The Fenway Condo Market 2024 saw fluctuating trends influenced by shifting buyer demand, mortgage rates, and overall economic conditions. While some months experienced strong sales prices and high activity, others reflected longer days on the market (DOM) and price adjustments.
As we move into 2025, understanding the Fenway Condo Market trends from the past year can help buyers and sellers make informed decisions. Let’s break down the key insights and explore what to expect in the coming year.
2024 Fenway Condo Market Performance
Median Sales Prices & Market Activity
- Highest Median Price: $1,294,500 (June 2024)
- Lowest Median Price: $490,850 (July 2024)
Prices in the Fenway Condo Market fluctuated throughout the year, with strong performance in the spring and early summer, followed by a mid-year dip. The average days on the market (DOM) ranged from 15 to 177 days, reflecting varying demand and buyer negotiation power.
Few homes sold above the asking price, reinforcing that buyers had substantial leverage throughout 2024.
Quarterly Breakdown
📊 Q1 2024 (Jan-Mar): The Fenway Condo Market started with moderate activity.
- January: Median price $754,830, with 35 DOM
- March: Sales slowed, with the median price dropping to $608,280 and 69 DOM
📊 Q2 2024 (Apr-Jun): Prices rebounded, peaking in June.
- April: $611,143 median price, 15 DOM (fastest selling period)
- June: $1,294,500 median price, but homes took 51 days to sell
📊 Q3 2024 (Jul-Sept): A mixed quarter, with July seeing a price dip before recovering in September.
- July: Prices fell to $490,850, but 10 closings indicated steady demand
- September: Market rebounded, with a median price of $708,916 and 100% of homes selling at asking price
📊 Q4 2024 (Oct-Dec): The year ended with strong pricing but slower sales.
- December: Highest DOM at 177 days, yet median price remained strong at $783,250
Will 2025 Be a Buyer’s or Seller’s Market?
The Fenway Condo Market in 2025 is expected to start as a buyer’s market, with affordability concerns persisting. However, demand may strengthen by mid-year, leading to a more balanced market.
✅ Early 2025 (January – April): Buyers will have more negotiating power as sellers adjust pricing.
✅ Mid-to-Late 2025 (July – December): If interest rates stabilize or drop, competition may increase, benefiting sellers.
Sellers should price competitively to attract offers, while buyers should act early before the market shifts.
For Buyers 🏡
✅ Best Time to Buy: January – April 2025 for the best deals.
✅ More Choices Available: Higher inventory levels provide flexibility.
✅ Mortgage Watch: If rates decline, buyer competition may increase, pushing prices upward.
For Sellers 🏠
✅ Best Time to Sell: July – December 2025, as demand will peak.
✅ Competitive Pricing is Key: Overpricing can lead to longer days on the market.
✅ Updated Homes Sell Faster: Move-in-ready condos tend to attract more offers.
Will Prices Decline in 2025?
The Fenway Condo Market may see slight price corrections early in the year, but it remains a highly desirable area.
- If mortgage rates stay high, buyers will continue negotiating lower prices.
- If rates drop, demand will increase, stabilizing prices.
Sellers who price competitively and market effectively will see the best results in 2025.
The Fenway Condo Market in 2024 reflected economic shifts but still presented opportunities for buyers and sellers. As we move into 2025:
📌 Buyers should act early to secure the best deals before competition rises.
📌 Sellers should list in peak demand months to maximize their sale price.
📩 Thinking about buying or selling in 2025? Contact me for expert insights and a personalized market analysis! Please also check out Fenway Rental Market Analysis, which might help anyone unsure if they should Buy, Sell, or rent. If you are curious about how the sales market in Boston or the rental market is performing weekly, check out my Instagram account. I cover sales and rental data about the Boston rental market every Monday. You Can also find these same reports on my Facebook and YouTube pages.
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