The Brighton single-family home market in 2024 showed notable trends in sales volume, pricing fluctuations, and buyer demand. While some months saw intense competition and rapid sales, others exhibited more extended listing periods and price adjustments.
As we move into 2025, understanding these patterns can help buyers and sellers make informed real estate decisions. Let’s review the 2024 market performance and what we can anticipate for the coming year.
2024 Brighton Single Family Market Performance
Sales Volume & Market Activity
- Highest Number of Homes Sold Above Asking: June 2024 (13 homes)
- Lowest Number of Homes Sold Above Asking: January, February, March 2024 (0 homes)
The number of homes selling above the asking price varied throughout the year, with peak sales occurring in the summer months when demand was at its highest.
🔹 Average Days on Market (DOM) ranged from 8 to 100 days, with December seeing the longest selling time and October experiencing the shortest.
🔹 Median sales prices fluctuated, peaking in June and December at approximately $700,000.
Quarterly Breakdown
Q1 2024 (Jan-Mar):
- January: 1 home closed, median price $980,000, 71 DOM
- February: 0 homes closed, median price $980,000, 0 DOM
- March: 1 home closed, median price $2,210,000, 13 DOM
Q2 2024 (Apr-Jun):
- April: 0 homes closed, median price $2,210,000, 0 DOM
- May: 1 home closed, median price $1,225,000, 25 DOM
- June: 3 homes closed, median price $1,285,667, 27 DOM
Market Insights:
- Spring and summer were the most competitive seasons, with more homes selling above asking price.
- The winter months showed lower transaction activity, leading to longer listing times.
Will 2025 Be a Buyer’s or Seller’s Market?
Early 2025 is expected to favor buyers, as inventory remains stable, and sellers may need to offer competitive pricing. By mid-to-late 2025, as demand rises, sellers could regain leverage.
🔹 Best Time for Buyers: January – April 2025, when fewer buyers compete, prices may be more negotiable. 🔹 Best Time for Sellers: May – September 2025, when more buyers actively search, and market conditions could push prices higher.
Key Takeaways
📌 For Buyers:
- Take advantage of early-year inventory and less competition.
- Consider negotiating prices before the market heats up in summer.
📌 For Sellers:
- List in spring or summer to maximize interest and selling price.
- Present homes well and price competitively to attract serious buyers.
Thinking about buying or selling in 2025? Contact me for a personalized market analysis and expert guidance! You Can also find Brighton Rental Analysis or Condo Market 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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