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What $250K Buys You in Today's Condo Market


Condo owners were hit hard when the housing bubble burst in 2006 (property values decreased an average of 41%). Now the housing market is starting to rebound, especially the condo market (see our story: The Condo Market Makes a Comeback).

In the second quarter of 2012, the national median existing condo price was $178,000, according to the National Association of Realtors. That's a 7.5% increase compared to the same time last year. Median condo prices in some cities, including New York ($635,000) and Pittsburgh ($138,400), are even exceeding their previous median highs.

We found nine properties across the country to show how far your condo dollar will stretch these days. You'll trade square footage and amenities for a central location in cities such as Honolulu and Boston, while in smaller areas, such as Madison, Wis., and Lakewood, Colo., you can find properties twice or triple the size.

Here's a look at how much $250,000 will buy you in the condo market today.

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