Waterfront Condo Market Recap 2024 & 2025 Outlook
The Waterfront Condo Market in 2024 saw fluctuating sales, shifting buyer demand, and varying days on the market. Some months had vigorous closing activity and higher prices, while others experienced longer selling times and price adjustments.
As we move into 2025, understanding last year’s market performance will help buyers and sellers navigate their subsequent real estate decisions. Let’s break down the key trends and what to expect in the coming year.
2024 Waterfront Condo Market Performance
Median Sale Prices & Market Activity
- Highest Median Sale Price: $2,780,000 (March 2024)
- Lowest Median Sale Price: $1,030,000 (November 2024)
The median sale price peaked in March, reflecting early-year buying activity, while November saw the lowest prices due to slower seasonal demand.
The average days on the market (DOM) ranged from 0 to 159 days, with January experiencing the most extended selling times and February seeing the shortest turnover.
Most condos did not sell above the asking price, indicating that buyers had strong negotiation power throughout the year.
Quarterly Breakdown
Q1 2024 (Jan-Mar):
- January: 3 condos sold, median sale price $1,500,000, 159 DOM
- February: No sales recorded, showing a temporary market slowdown
- March: 8 condos sold, the median price peaked at $2,780,000, but 88 DOM
Q2 2024 (Apr-Jun):
- April: 6 sales, median sale price $1,780,000, shortest selling time at 28 DOM
- May: 10 condos closed, prices averaged $1,650,000, DOM increased to 72 days
- June: 9 sales, median price $1,950,000, average DOM at 35
Q3 2024 (Jul-Sept):
- July: 5 closings, median sale price $1,320,000, 52 DOM
- September: Market peak with 16 sales, median price $1,590,000, 60 DOM
Q4 2024 (Oct-Dec):
- October: 8 closings, median price $1,720,000, highest DOM at 125 days
- December: 6 sales, median price $1,200,000, 90 DOM
Will 2025 Be a Buyer’s or Seller’s Market?
The Waterfront Condo Market 2025 is expected to start as a buyer’s market, with high inventory and slower demand. However, buyer confidence may increase by mid-year, leading to higher sale prices and more competitive offers.
Early 2025 (January – April): Buyers will have negotiation power and pricing flexibility.
Mid-to-late 2025 (July – December): Sellers may regain control and increase prices if mortgage rates stabilize.
Sellers should price competitively, while buyers should act early before demand strengthens.
For Buyers 
Best Time to Buy: January – April 2025 to secure the best deals.
More Choices Available: Higher inventory gives buyers more substantial leverage.
Act Before Interest Rates Drop: If rates decline, competition may increase, making early 2025 an ideal time to purchase.
For Sellers 
Best Time to List: June – September 2025, when demand will likely rise.
Pricing Strategy Matters: Overpricing can increase days on the market, making competitive pricing essential.
Well-staged homes Sell Faster: Move-in-ready condos attract more offers and close faster.
Thinking about buying or selling in 2025? Contact me for a personalized market analysis and expert guidance! You Can also find waterfront Analysis to see a complete picture of how the 2024 market performed. Every Monday, I post a weekly sales report on Instagram, Facebook, and YouTube, and on Tuesday, I post a post on rentals on the same channels. Hence, you know different neighborhoods and how they perform so you can make a well-educated decision you feel comfortable about.
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