As Q1 2025 wraps up, here is the first quarter Boston Real Estate Recap of 2025, focusing on Back Bay, Beacon Hill, Charlestown, and Savin Hill. This reminds us that Boston is truly a city of micro-markets. Each neighborhood had its rhythm—whether it was swings in condo prices, fluctuating rent trends, or shifts in inventory. Here’s your deep dive into what stood out in the first quarter and what to watch heading into Q2.
🏠 Back Bay: Price Fluctuations & Rental Recovery
Condos:
Back Bay saw notable volatility in its condo market:
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January started slowly, with 16 closings at a median price of $2.979 million, marking an 8% drop from 2024. Homes sat on the market for over 100 days.
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February reversed course dramatically: 17 units were sold, and the median price skyrocketed 100% YoY to $3.6M. DOM dropped to 92.
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March showed solid momentum, with 15 condos closing at a median price of $3.21 million, a 8% year-over-year increase.
The story here? Luxury units and well-updated elevator buildings led the way, even as the total number of transactions dipped from the previous year.
Rentals:
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January saw rents climb 32% YoY to $5,050 as relocation traffic picked up early.
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In February, prices fell 40% to $4,089, reflecting a temporary imbalance in supply and demand.
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March rallied to $5,380 (+12% year-over-year) with 43 leases signed, showing a quick market recovery.
Takeaway: Buyers should look for opportunities during the off-season. Renters who hesitated in February may have missed their best window.
🏛️ Beacon Hill: Big Swings on a Small Scale
Condos:
This historic neighborhood delivered a rollercoaster Q1:
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January jumped with seven sales and a median price of $2.02M—double last year’s mark.
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February saw four sales at $2.89M, down 76% year-over-year, due to fewer high-end listings.
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March bounced again with 10 closings and an 184% price increase to $2.44M.
Rentals:
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January rents soared 146% year-over-year to $2,829, likely driven by low vacancy rates.
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February dropped to $4,859, a 76% decline from the inflated 2024 numbers.
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March softened slightly to $3,288 (-9.3% YoY), likely due to more mid-market options hitting the market.
Takeaway: Both condo and rental markets moved dramatically depending on unit quality and availability. Pricing here can pivot quickly.
🏘️ Charlestown: Luxury Skews & Rental Strength
Condos:
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January was quiet, with just a few sales and a median price of $ 705,000—an 88% year-over-year (YoY) dip.
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February saw a surge in high-end sales, pushing the median price to $2.89 million, a 279% year-over-year increase.
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March evened out with 16 condos sold at $1.06M (+33% YoY), showing more substantial traction in turnkey units.
Single-Family Homes:
Only two sales closed in March, and prices dropped 68% year-over-year (YoY) to $1.5 million, reflecting a decrease in high-end listings.
Rentals:
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January fell to $3,230 (-20% YoY).
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February rebounded to $4,859, a 39% increase.
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March landed at $3,696, a 3.5% increase YoY.
Takeaway: A few big sales caused significant swings, but underlying demand is growing, especially for renovated properties. Rental demand is back on track after a cold start.
🌳 Savin Hill: Consistent & Climbing
Condos:
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January saw four sales at a median of $642,500, down 28% YoY.
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February saw a modest rebound to $834,000, a 3.1% year-over-year increase.
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March posted a standout closing at $1.09M, marking a 34% jump.
Rentals:
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January increased 18% YoY to $3,385.
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February dipped slightly to $3,520.
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March mirrored February but saw faster lease-ups and higher demand.
Takeaway: Savin Hill remains one of the city’s best value plays. For buyers, the long-term upside looks strong. Renters enjoy a more stable market here than in Boston’s core neighborhoods.
🔮 What to Expect in Q2 2025
Buyers:
Look for more stability in neighborhoods like Charlestown and Savin Hill. High-end buyers will find expanded inventory in Beacon Hill and Back Bay, but competition will remain fierce.
Sellers:
Momentum is on your side. March’s substantial numbers show that well-staged and reasonably priced listings will sell quickly, especially as we head into relocation season.
Renters:
If you missed February’s softening, act quickly—spring pricing is likely to trend upward. Consider signing longer leases now to lock in lower rates.
Landlords:
Now’s the time to prepare your units and invest in minor upgrades. Demand will spike in late Q2, especially from transfer students and graduate students.
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Whether you’re buying, renting, selling, or investing in Boston, timing and data are everything. Let’s put a strategy together that works for you.
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Mondays – Sales data for three neighborhoods
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Tuesdays – Rental trends in 3 different areas
Stay informed. Stay ahead. Let’s talk about your real estate goals.
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