Q1 2025 Market Report: Greater Boston Residential Snapshot

Q1 2025 Market Report: Greater Boston Residential Snapshot

The first quarter of 2025 reflected an active, though segmented, residential real estate market across Greater Boston.

Swampscott had a GREAT first quarter in 2025, while towns like Brookline and Weston lost some ground.

In the single family sector, many communities posted strong year-over-year price growth, with especially notable gains in Watertown (+22.0%), Swampscott (+37.5%), Roslindale (+18.5%), and Salem (+13.2%). Transaction volume also rose in key mid-priced markets like Swampscott (+44.4%) and Salem (+40.9%), indicating a broadening base of buyer activity. However, higher-end markets like Brookline (−33.3%) and Weston (−33.3%) experienced volume contractions, longer days to offer, and average sale-to-list ratios well below 100%, suggesting tempered demand in the luxury space.

The condo market similarly showed increased activity in several areas, most notably Somerville, where transaction volume grew 37% YoY and the average sale-to-list ratio held at 101.0%. Cambridge and Jamaica Plain also posted healthy volumes—Cambridge condos averaged $1.18M (up 4.5% YoY) with 27 sales, while Jamaica Plain saw 51 condo sales (up 21.4%), despite a 10.5% decline in average price and a significant increase in market time.

JP Condos took the biggest hit over last year.

Hottest Markets in Greater Boston – Q1 2025

For single families, Swampscott was a standout: homes averaged $1.08M (up 37.5%), with a sale-to-list ratio of 100.3% and days to offer at 30. Watertown showed even faster market velocity (15 days to offer) and a 104.5% sale-to-list ratio, while Salem and Dedham followed with YoY price increases of 13.2% and 18.5%, respectively. Roslindale also posted strong appreciation (+18.5%), but longer market times (53 days) and just 12 sales slightly muted the strength of that market.

For condos, Somerville led the way in both sales growth and price stability. The average condo sold for $978,957 (down just 2.9%) but moved quickly (40 days) and above asking. Cambridge maintained pricing power with a $1.18M average (up 4.5%) and a 100.4% sale-to-list ratio. While Jamaica Plain posted higher sales volume, it was accompanied by a sharp price dip and an 82.1% increase in time to offer (to 37 days).

Fastest-Moving Greater Boston Markets - Q1-2025

The single family segment dominated the speed metrics:

• Watertown: 15 days to offer

• Salem: 16 days

• Mattapan: 28 days (though just 3 sales make this less reliable)

• Dedham: 26 days

Condos in Somerville and Cambridge also moved briskly, with average days to offer of 40 and 42, respectively.

Greater Boston Market Highlights

• Jamaica Plain Condos: Strong volume (+21.4%) but declining prices (−10.5%) and much slower market times suggest temporary buyer advantage or shifting demand patterns.

• Roslindale Single Families: Solid appreciation (+18.5%) and a high price-per-square-foot ($482), but the longest time to offer among key markets (53 days) and only 12 transactions.

• West Roxbury Single Families: Balanced fundamentals — 102.4% sale-to-list ratio, 24 sales, and 31 days to offer. Prices rose 3.8% YoY.

• Brookline Single Families: Still high-priced at $3.07M, but homes took 43 days to sell and closed at 93.1% of list, suggesting softened demand.

• Somerville Condos: High transaction volume, quick sales, and above-ask prices (101%) reflect continued strong demand.

• Cambridge Condos: Stable and competitive, with modest appreciation, short market times (42 days), and a 100.4% sale-to-list ratio.

Looking Ahead to Q2-2025

This is, of course, focusing on Q1’s closed data, based on our own experiences in the field along with feedback from agents and buyers, we think the Greater Boston Q2-2025 residential market is poised for acceleration. Properties — especially single family homes — are increasingly drawing multiple offers. And while the economy burns up in flames, home buyers can find some solace in interest rates dropping into a more affordable range. If this trend continues through April and May, we could see a sharp escalation in pricing, even faster market times, and high competition in every market set and subset.

We’ll be back in mid-Spring to check in on the Q2-2025 market.