Is Fairfield, AL a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Fairfield is a buyer's market

Buyer's
Market

Difference Since Last Month

Last month, Fairfield was a Seller's Market.

Key Takeaway

Fairfield is a Buyers Housing Market, which means prices tend to be lower and homes stay on the market longer.

Housing Prices in Fairfield, AL

How much do homes in Fairfield, AL cost?

Median Sold Price

$159,950

$102/sqft

Based on all homes sold in January 2024.

Difference Since Last Month

+$89,950(+128.5%)

Key Takeaway

Homes in Fairfield have sold for 128.5% more than they did a month ago.

Summary: The median home sold price in Fairfield was $159,950 in January 2024, up 128.5% from last month, and the median price per square foot was $102.

Median Sold Price By Bedroom Count

# BEDSDec 2023Jan 2024CHANGE
1 --
N/A
2 $40.5K-
N/A
3 $80K$140K
+75.0%
4 $75K-
N/A
5+ -$244K
N/A

Summary: Fairfield housing prices by bedroom type for January 2024 compared to the previous month: The home price of 1 bedroom homes did not change, 2 bedroom homes did not change, 3 bedroom homes increased by 75%, 4 bedroom homes did not change, and 5+ bedroom homes did not change.

Median Sold Price Compared To Nearby Cities

Fairfield
+128.5%
Birmingham
-6.4%
Midfield
-12.8%

Housing Supply in Fairfield, AL

How many homes are available in Fairfield, AL?

Number of Homes For Sale

Dec 2023Jan 2024CHANGE
3231-3.1%

Summary: The Fairfield real estate market had 31 homes for sale in January 2024, a 3.1% decrease compared to December 2023.

Homes For Sale By Bedroom Count

# BEDSDec 2023Jan 2024CHANGE
1 11
0.0%
2 32
-33.3%
3 2225
+13.6%
4 52
-60.0%
5+ 11
0.0%

Summary: The Fairfield housing inventory by bedroom type for January 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes decreased by 33.3%, 3 bedroom homes increased by 13.6%, 4 bedroom homes decreased by 60%, and 5+ bedroom homes remained the same.

Number of Homes Sold

Dec 2023Jan 2024CHANGE
94-55.6%

Asking Price vs. Sold Price

2 Homes Were Sold
Under Asking

2 Homes Were Sold
At Asking

0 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Fairfield, you may be able to get a good deal. 50% of homes here sold below asking price last month.

Summary: A total of 4 homes were sold or pending in Fairfield in January 2024, down by 55.6% month-over-month. Of the 4 sold homes, 50% were sold under asking, 50% were sold at asking, and 0% were sold over asking.

Days on Market for Fairfield, AL

How long does it take to sell a home in Fairfield, AL?

Average Sale Time

Dec 2023Jan 2024CHANGE
47 Days39 Days-16.4%

Summary: Homes in Fairfield had an average of 39 days on market in Jan 2024, down by 16.4% compared to last month.

Breakdown of Home Sale Times

2 Homes Were Sold
Under 30 Days

1 Home Was Sold
In 30 - 90 Days

1 Home Was Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

Many homes in Fairfield are selling fast, if you're buying plan to act quickly.

Summary: During January 2024, 4 homes were sold in Fairfield; 50% of homes were sold within 30 days, 25% of homes were sold within 30 to 90 days, and 25% of homes were sold over 90 days.

Housing Market Reports are calculated by Rocket Homes Real Estate and based on information from the MLS.

Report Updated 27 Days Ago

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