The value of your condo going up gives very limited information if there is bubble or not.

If you want to figure out what the correct price level is, find statistics that compares price of housing to median income in your area over time. That's the single most important metric determining the correct property valuations.

Prices can go up as long as incomes go up. Major cities have higher productivity and prices can go up until they start to eat too much from the income. In declining areas prices can go down and houses are still overvalued.