Whatever you think you know about condominiums, you're probably wrong. Don't be rattled by the overbuilding of condos in certain areas, there's plenty of market for them across most of the U.S.

For one thing, density is a certainty. The U.S. Census projects 450,000,000 U.S. residents by 2050. We have a little over 300,000,000 now.

Since 2006, single heads of households have outnumbered marrieds, and only 40 percent of homebuyers today have children under the age of 18.

Condos are a lifestyle choice where residents can skip the yardwork and use the fitness center without carrying the overhead. It's the perfect step between apartment rentals and detached single-family homes. Condos serve workers -- they tend to be built near jobs, amenities and attractions.

That's why condos continue to defy the housing downturn. According to the National Association of Realtors, condominium and cooperative prices in 59 key metros -- show the national median existing-condo price hasn't dipped. It was $221,100 in the fourth quarter just like it was for Q-4 in 2006.

In addition, thirty-three metros showed increases in the median condo price, including four areas with double-digit gains, while 26 areas had price declines including four with double-digit drops.

Chicago is one of the metros celebrating density and the condo lifestyle. Figures from the Multiple Listing Service of Northern Illinois (MLSNI) found that sales of condos and townhouses (classified as attached homes by the MLSNI) were equal to or higher than 2006 levels in 55 suburban communities and 29 city neighborhoods in 2007.

That's pretty good considering that total sales for all types of housing declined over 21 (21.3) percent for sales, with sales of detached units (primarily single-family homes) posting a 23.8 percent decrease for the year.

The N.A.R. says the strongest condo price increases were in Bismarck, N.D., where the fourth quarter price of $125,000 rose 20.8 percent from a year earlier, followed by the New Orleans-Metairie-Kenner area of Louisiana, at $173,300, up 17.8 percent, and Knoxville, Tenn., where the median condo price of $160,800 rose 10.6 percent from the fourth quarter of 2006.

Metro area median existing-condo prices in the fourth quarter ranged from $109,900 in Wichita, Kan., to $595,700 in the San Francisco-Oakland-Fremont area.

The second most expensive condo market reported was Los Angeles-Long Beach-Santa Ana, at $363,100, followed by the San Diego-Carlsbad-San Marcos area at $327,000.

Affordable condo markets include both Indianapolis and Greensboro-High Point, N.C., at $116,700 in the fourth quarter, and the Cleveland-Elyria-Mentor area of Ohio at $120,000.

Thanks to a number of incentives and tax benefits, homeownership is still appealing to many, as long as there is some reasonable certainty that homeowners can sell their homes when they need to.

Condo owners move approximately every four years, while detached homebuyers tend to sell after 6 years, says the N.A.R.

Why would any practitioner not want that business?

Think of condominiums as what they really are -- neighborhoods, and you should have no problem recommending them to any buyer.

Published: February 20, 2008

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Blanche Evans is the award-winning senior editor of Realty Times, the Internet's leading independent real estate news service. She is featured daily on the Realty Times Video Network in the "Realty Viewpoint" segment. Blanche has been named one of the "25 Most Influential People In Real Estate" by REALTOR Magazine, and has been twice recognized as a "notable." In 2005, she was named "Top Reporter Covering the NAR" by Delahaye-Bacon's. Blanche is a renowned author of five real estate books. Her newest, Bubbles, Booms and Busts: Make Money In Any Real Estate Market, McGraw-Hill, was rave-reviewed by The New York Times. She was also selected from hundreds of real estate experts to contribute to Donald Trump's book, Trump: The Best Real Estate Advice I Ever Received: 100 Top Experts Share Their Strategies, Rutledge Hill Press, and is featured on page 68. Order Now Review - Honors In 2006, Blanche was selected among scores of candidates to author two consumer real estate guidebooks for the National Association of Realtors: The NAR Guide to Home Buying, and The NAR Guide to Home Selling, Wiley & Sons. She is currently planning two new books for the NAR and its members.       Known for her keen insight into real estate industry issues and for her ability to make complex subjects easy to understand, Blanche is a sought-after keynote and continuing education speaker. Real estate organizations from MLSs, to brokerages, to franchisors, to associations hire her to provide up-to-the-minute analysis of real estate industry news and advice on how to improve revenues. Her passionate delivery, peppered with stinging wit, is a huge hit with audiences and fans. Don Klein, CEO Greater Nashville Association of Realtors, Blanche Evans, Richard Courtney, president 2007, GRAR "The GNAR membership meeting last week featured Blanche Evans as the keynote speaker. Her comments and insights resonated extremely well with those in attendance and we have had many requests for copies of her PowerPoint Presentation. She was a terrific part of the membership meeting and convention program!" - Don Klein, CEO Greater Nashville Association of Realtors Coverage from WSMV, Nashville - 8-14-2007 That Interview Guy - Get Inside The Head Of Today's Generation 2007 AE Institute Session - To purchase 2006 AE Institute Session - Parts 1 2 3 4 5 6 7 8 9 HouseValues Mastermind call - Parts 1 2 Blanche's fireside chat with Jeremy Conaway, HAR - Click here. To contact Blanche, email her at . For more articles by Blanche, click here.