Market Timing in the Southern California Real Estate Market

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I'm considering buying a single family residence or condo. I understand right now it's a buyers market but average prices are climbing again. I could buy now, but I want to wait and see if I could get a better deal (lower price and better interest rate) if I wait.

My parents have a house they could sell me (1.2M), but it's out of my range. The benefit to that is I will pay very little interest. It's in a great location, has a view and is in good shape.

Plan B is a condo by a golf course ($550k). Good location in a remote area but only minuites to amenities.

The LDO approach I think is the condo, but should I buy now or wait???

Thanks in advance