Lifestyle.  Price.  Location.   Value.   

All of those mentioned.  I am currently looking for a condo to downsize and have the freedom to travel, without worrying about issues of managing exterior maintenance,  I am also looking for a "community" atmosphere.

Many purchase for their college age kids here.  Many seniors like the security and no maintenance of a condo.

They don't!

Seniors who are down-sizing want minimal upkeep....none outside..... and a condo is the right choice for them.... especially new townhomes with demising walls that have sound deadening material.... it's a good option...

25%

Less maintenance and some just like that life style.

Many prefer for lower maintenance, esp snow, lawn, leaves, driveway.  Many for nicer amenities (e.g. pool, gym), many for location (close to train station or downtown).  Many prefer over condos as they tend to have higher values and sell faster.  Many use as starter homes and then rent out after they get married and have kids; many use after downsizing.  Many do it for budget reasons - some are less expensive and lower taxes.  (some are more expensive, so it depends.

There is no shortage of buyers here looking for the carefree and maintenance free life style of condos here. It could be a 1/3 of my market

They want to spend July and August in Maine, Sep and Oct in Utah, Nov and Dec in New York. And take a Royal Caribbean Cruise anytime the spirit moves them. 

I dont think that they do.

Spencer,
Whether condos are a good choice varies all over the country. Not many of my clients’ choose one when they have the facts.

My first time buyer under 30 want a condo or a town home.  They are just not ready the expense of a house & yard.  

I don't find many people that prefer condos or town homes.  It is most often economics that determine whether they will be purchasing a condo or town home rather than a single family detached home.  The people that specifically want a condo or town home are usually those with jobs that require them to be away from home for much of the month.  These are few and far between in my experience.

Because we are a second home market.

My clients who prefer a condo usually lean that way due to lower maintenance effort required by the homeowner.  Sometimes it's the cost vs. a single family home, though HOA dues must be considered in the overall financial picture.

We work with lots of millennials, who like the fact that condos are in and around big cities, as well as having things taken care of for them by the HOA. I find folks retiring and moving to other areas like condos due to downsizing and the HOA. My father and stepmother just bought a condo down south for those two reasons.