Do Detached Homes Appreciate Faster Than Condos?

Detached residential homes are often assumed to appreciate faster than condominiums. But does the market data support that assumption?

To compare the two property types, we reviewed NWMLS price trends for detached residential homes and condominiums. Both categories were indexed to 1.00 at the beginning of the analysis period, allowing us to compare their percentage change in value rather than their actual sale prices.

Long-Term Performance

Over the past 10 years, detached residential homes clearly outperformed condominiums.

By early 2026, the residential index had increased to approximately 2.18, while the condominium index had increased to approximately 1.89. This represents appreciation of roughly 118% for detached homes and 89% for condominiums.

The difference was not consistent throughout the entire period. From 2016 through approximately 2020, detached homes and condominiums generally appreciated at similar rates.

The larger separation developed during and after the COVID-19 pandemic.

Did the Pandemic Affect the Difference?

The data suggests that the pandemic played a meaningful role in widening the gap.

During the pandemic, many buyers placed greater importance on additional living space, home offices, private yards, garages, lack of desire for common amenities, and separation from neighboring units. Detached homes were generally better positioned to meet those preferences.

More Recent Performance

The comparison has been closer since January 2023.

From early 2023 through early 2026, detached residential homes increased by approximately 15%, while condominiums increased by approximately 11%. Condominiums outperformed detached homes during portions of 2023, 2024, and early 2025, although detached homes ended the period with slightly stronger overall appreciation.

Both detached homes and condominiums have experienced substantial appreciation over the past decade. Condominiums provide a more affordable entry point into homeownership and appear to keep pace with detached homes during some market cycles. However, the pandemic created a meaningful divergence between the two property types. Even after removing the estimated 16% pandemic-related increase in the gap, detached homes still maintained an approximately 14% appreciation advantage over the remaining eight years.

One caveat is that relatively few new condominiums have been constructed over the past decade. As a result, detached-home sales increasingly include newer construction in the 'median price', while the condominium sales data continues to reflect an older and largely unchanged housing stock.

In Whatcom County, the average year built of condominiums sold today is approximately the same as it was in 2016. By comparison, the average detached home sold today is about six years newer than the average detached home sold in 2016. This means part of the apparent appreciation advantage for detached homes may reflect the increasing presence of newer construction in the sales data, rather than appreciation alone.

So, are appreciation rates for detached homes and condominiums actually the same after accounting for the pandemic and the limited amount of new condominium construction? Probably not, but the difference is much smaller than the raw sales data suggests. The available data still points to a slightly stronger appreciation for detached housing.

The findings suggest that a condominium should not be ruled out solely because of concerns about its appreciation potential.