I went to my my friend's house. He wasn't there. He was going to come back after a few minutes but I didn't have time to wait. It was already 8:00 PM. I wouldn't have been able to meet him unless I had stayed there until 8:30 PM.
So I should say (1) "If I hadn't stayed there until 8:30 PM, I wouldn't have been able to meet him." Can we also say (2) "If I had stayed there until 8:30 PM then also I wouldn't have been able to meet him because he reached home at 9 PM"?
See above. You have to surround text that is the topic of a narrative, but not otherwise part of it, in quotation marks. Don't use quotation marks when you set the scene with the first part of a narrative and want to know whether the final sentence, which is part of the narrative, is correct.
I changed the last verb in your original sentence to the past perfect. With that change, the sentence is correct.
The sentence I labeled "(1)" is correct but it doesn't mean the same thing; it means that you did, in fact, stay until 8:30.
The sentence labeled "(2)" is incorrect. If you remove "also", it will be grammatically OK but overly wordy.
You don't have to repeat "AM" or "PM" when the narrative makes clear whether you're talking about morning or afternoon. Write one of those abbreviations once at the beginning.