Is Fairhaven, MA a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since May 2023
Since last year, Fairhaven has remained a Seller's Market.
Key Takeaway
Fairhaven is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Fairhaven, MA
How much do homes in Fairhaven, MA cost?
Median Sold Price
$459,950
$339/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Key Takeaway
Homes in Fairhaven have sold for 9.7% more than they did a year ago.
Summary: The median home sold price in Fairhaven was $459,950 in May 2024, up 9.7% from last year, and the median price per square foot was $339.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $233.7K | $362.5K | +55.1% |
| 2 Bedrooms | $385K | $437K | +13.5% |
| 3 Bedrooms | $430K | $448.4K | +4.3% |
| 4 Bedrooms | $506.7K | $603.5K | +19.1% |
| 5+ Bedrooms | $600K | $579.9K | -3.3% |
Summary: Fairhaven housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes increased by 55.1%, 2 bedroom homes increased by 13.5%, 3 bedroom homes increased by 4.3%, 4 bedroom homes increased by 19.1%, and 5+ bedroom homes decreased by 3.3%.
Median Sold Price Compared To Nearby Cities
| Mattapoisett | $650K | $760K | +16.9% |
| Acushnet | $420K | $490K | +16.7% |
| New Bedford | $376.5K | $423.6K | +12.5% |
| Fairhaven | $419.4K | $459.9K | +9.7% |
Housing Supply in Fairhaven, MA
How many homes are available in Fairhaven, MA?
Number of Homes For Sale
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 29 | 32 | +10.3% |
Summary: The Fairhaven real estate market had 32 homes for sale in May 2024, a 10.3% increase compared to April 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 0 | 0 | 0.0% |
| 2 Bedrooms | 7 | 11 | +57.1% |
| 3 Bedrooms | 15 | 14 | -6.7% |
| 4 Bedrooms | 4 | 4 | 0.0% |
| 5+ Bedrooms | 3 | 3 | 0.0% |
Summary: The Fairhaven housing inventory by bedroom type for May 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes increased by 57.1%, 3 bedroom homes decreased by 6.7%, 4 bedroom homes remained the same, and 5+ bedroom homes remained the same.
Number of Homes Sold
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 9 | 9 | 0.0% |
Asking Price vs. Sold Price
3 Homes Were Sold
Under Asking
2 Homes Were Sold
At Asking
4 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Fairhaven, you could pay more than the asking price. 44.4% of homes here sold above asking price last month.
Summary: A total of 9 homes were sold or pending in Fairhaven in May 2024, the same as the previous month. Of the 9 sold homes, 33% were sold under asking, 22% were sold at asking, and 44% were sold over asking.
Days on Market for Fairhaven, MA
How long does it take to sell a home in Fairhaven, MA?
Average Sale Time
| May 2023 | May 2024 | CHANGE |
|---|---|---|
| 31 Days | 28 Days | -8.8% |
Summary: Homes in Fairhaven had an average of 28 days on market in May 2024, down by 8.8% compared to last year.
Breakdown of Home Sale Times
7 Homes Were Sold
Under 30 Days
2 Homes Were Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Fairhaven are selling fast, if you're buying plan to act quickly.
Summary: During May 2024, 9 homes were sold in Fairhaven; 78% of homes were sold within 30 days, 22% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.
