Brighton Condo Market Analysis

Brighton Condo Market Recap 2024 & 2025 Outlook

The Brighton condo market in 2024 saw significant shifts in sales activity, pricing trends, and buyer demand. While some months experienced competitive bidding and rapid transactions, others showed longer listing times and price fluctuations.

Understanding these trends will help buyers and sellers make informed decisions as we enter 2025. Let’s take a closer look at how the Brighton condo market performed and what we can anticipate for the year ahead.

2024 Brighton Condo Market Performance

Sales Volume & Market Activity

• Highest Number of Condos Sold: 26 (May 2024)
• Lowest Number of Condos Sold: 4 (January 2024)

The number of condos sold varied significantly throughout the year, with peak sales occurring in late spring and early summer, while winter months saw reduced activity.

🔹 Average Days on Market (DOM) ranged from 23 to 53 days, with May experiencing the shortest selling time and January seeing the longest.

🔹 More homes sold above the asking price in high-demand months, indicating intense competition.

Quarterly Breakdown

Q1 2024 (Jan-Mar):

• January: 4 condos closed, median price $400,250, 53 DOM
• February: 6 condos closed, median price $522,600, 24 DOM
• March: 11 condos closed, median price $638,182, 43 DOM

Q2 2024 (Apr-Jun):

• April: 13 condos closed, median price $496,154, 30 DOM
• May: 26 condos closed, median price $650,131, 23 DOM
• June: Data not available

Market Insights:

• Spring and early summer were the most competitive periods, with condos selling faster and closer to (or above) asking price.
• Winter months had slower sales, giving buyers better negotiation power.

Will 2025 Be a Buyer’s or Seller’s Market?

Early 2025 will continue favoring buyers, with potential price stabilizations and longer listing times. However, demand could pick up by mid-year, shifting some leverage back to sellers.

🔹 Best Time for Buyers: January – April 2025, when inventory remains higher and competition is lower. 🔹 Best Time for Sellers: May – September 2025, when demand is expected to be strongest.

Key Takeaways

📌 For Buyers:

• More inventory and negotiating power early in the year.
• Consider locking in favorable pricing before summer demand increases.

📌 For Sellers:

• The best time to list will likely be late spring to early fall.
• Well-presented homes priced competitively will 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, and Single Family 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.