Condo Market
The typical value of a condominium or co-op in an area, its one-year change, and how that value compares with the typical single-family home nearby.
On this page
The Zillow Home Value Index publishes separate readings for condominiums and co-ops, apart from the all-homes figure the home value (Zillow) family reports. This family holds that condo-only reading: its current level, its one-year change, and its premium or discount against the single-family value in the same area.
Zillow's index is built from a valuation of every home in an area rather than only the ones that sold, filtered here to the condominium and co-op segment (Zillow Home Value Index Methodology, 2019 Revision). The same construction — smoothed, seasonally adjusted, drawn from the middle tier of the market — carries over from the all-homes index; only the property type filtered into it changes.
Metrics in this family#
Zillow condo value
The most recent monthly condo/co-op index value, in dollars.
Zillow condo value change
The change in that value over the past year, as a percentage.
Considerations#
Coverage is the narrowest cut Zillow publishes. The condo segment has far fewer sales to draw on than the all-homes or single-family cuts, so it reaches a smaller share of areas, and the gap is widest in ZIP codes where condominiums are rare to begin with. Where Zillow has no condo reading, nothing is substituted from a wider cut or a neighboring area.
The premium is a comparison of two model outputs, not two transactions. Both the condo and single-family values it compares rest on Zillow's own valuations, so a distortion in either estimate carries into the spread. It is also read in an area whose condo and single-family markets can differ in ways beyond quality — building age, density, proximity to a center — that the comparison does not separate out.
Tract figures are assembled, not published. As with the all-homes index, a tract's condo value is a blend of the ZIP codes overlapping it, weighted by shared housing units, and is smoother than any one ZIP code's true value.
The value is nominal, smoothed, and seasonally adjusted, carrying the same limitations as the all-homes ZHVI: it is not adjusted for inflation, and short-run turns show up later than they happened — see Zillow Home Value Index.
References#
- 1Zillow Home Value Index Methodology, 2019 Revisionhttps://www.zillow.com/research/zhvi-methodology-2019-deep-26226/