The South End condo market in 2024 experienced notable fluctuations, influenced by shifting buyer demand, mortgage rates, and overall economic trends. While some months saw vigorous sales activity and rising median prices, others reflected longer days on the market and pricing adjustments. As we head into 2025, assessing past trends is essential to make informed decisions for the upcoming year.
2024 South End Condo Market Performance
Median Sales Prices & Market Activity
- Highest Median Price (2024): $1,672,537 (February)
- Lowest Median Price (2024): $982,968 (March)
- Highest Median Price (2023): $2,543,333
- Lowest Median Price (2023): $765,288
- Prices fluctuated month-to-month, with February reaching a peak and March seeing a dip, showing variability based on buyer activity and market conditions.
- Homes spent an average of 29 to 104 days on the market, with certain months seeing faster sales.
Quarterly Breakdown
- Q1 2024 (Jan-Mar): The market had steady activity, with February peaking at $1,672,537. However, March saw a dip to $982,968.
- Q2 2024 (Apr-Jun): Prices rebounded, reaching $1,414,798 in June.
- Q3 2024 (Jul-Sept): July maintained strength at $1,453,045, with September closing at $1,402,498.
- Q4 2024 (Oct-Dec): Prices started at $1,226,704 in October and ended the year in December at $1,183,629.
Days on Market (DOM) Trends
- In 2024, homes took an average of 45-104 days to sell.
- March had the fastest sales at 49 days, while December saw the slowest sales at 104 days.
- Buyer affordability concerns likely caused extended selling times later in the year.
Homes Selling Above Asking
- In 2023, 19% of homes sold above asking.
- In 2024, the percentage fluctuated from 30% in March to 65% in December.
- Competitive pricing and well-prepared listings were crucial in achieving over-asking prices.
Will 2025 Be a Buyer’s or Seller’s Market?
The South End condo market in 2025 will likely shift between a balanced market and a buyer’s market.
- Q1 & Q2: Buyers will have more negotiating power as sellers try to move properties early in the year.
- Q3 & Q4: The market will shift slightly toward sellers as interest rates stabilize and demand increases.
For Buyers
Best Time to Buy: January – March 2025 will likely offer the best deals.
Negotiation Power: With rising inventory, buyers will have more leverage in early 2025.
Watch Interest Rates: If rates drop, expect more buyer competition in late 2025.
For Sellers
Best Time to Sell: June – September 2025, as demand historically peaks during summer.
Competitive Pricing is Key: Buyers remain cautious, so setting a fair price will attract more offers.
Move-In Ready Units Sell Faster: Staged or recently updated homes tend to close quicker and closer to the asking price.
Will Condo Prices Decline in 2025?
- If interest rates remain high, South End condo prices could significantly decline in early 2025.
- If rates drop, demand will likely increase, stabilizing prices and shifting the market toward sellers.
How Will the New Presidential Administration Impact the Housing Market?
With a new administration in the White House, economic policies and potential rate adjustments could significantly impact the real estate market.
- Interest rates may stay elevated if inflation remains high, keeping demand lower.
- Buyer activity may increase if the administration pushes for housing incentives or rate reductions.
Final Thoughts
The South End condo market in 2024 reflected national economic challenges, but 2025 presents new opportunities for buyers and sellers. Buyers should act early in the year to secure the best deals, while sellers will benefit from listing during peak demand periods in mid to late 2025.
Thinking about buying or selling in 2025? Let’s discuss your options! Contact me for a personalized market analysis and expert guidance. Also, please check out My Market Analysis on South End Single Family or rental analysis. If you want a weekly update, check out my Instagram, Facebook, or YouTube, where you can see weekly market reports on Monday for Sales and Tues for Rentals.
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