Is Fairlawn, DC a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since March 2023
Since last year, Fairlawn has remained a Buyer's Market.
Housing Prices in Fairlawn, DC
How much do homes in Fairlawn, DC cost?
Median Sold Price
$404,000
$287/sqft
Based on all homes sold in the last 12 months.
Difference Since March 2023
Summary: The median home sold price in Fairlawn was $404,000 in March 2024, down 6% from last year, and the median price per square foot was $287.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | Mar 2023 | Mar 2024 | CHANGE |
---|---|---|---|
1 Bedroom | - | $65K | N/A |
2 Bedrooms | $468K | $345K | -26.3% |
3 Bedrooms | $390K | $365K | -6.4% |
4 Bedrooms | $547.5K | $560K | +2.3% |
5+ Bedrooms | $540K | $550K | +1.9% |
Summary: Fairlawn housing prices by bedroom type for March 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes decreased by 26.3%, 3 bedroom homes decreased by 6.4%, 4 bedroom homes increased by 2.3%, and 5+ bedroom homes increased by 1.9%.
Median Sold Price Compared To Nearby Neighborhoods
Southeast | $494.2K | $471.3K | -4.6% |
Fairlawn | $430K | $404K | -6.0% |
Housing Supply in Fairlawn, DC
How many homes are available in Fairlawn, DC?
Number of Homes For Sale
Feb 2024 | Mar 2024 | CHANGE |
---|---|---|
98 | 105 | +7.1% |
Summary: The Fairlawn real estate market had 105 homes for sale in March 2024, a 7.1% increase compared to February 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Feb 2024 | Mar 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 2 | 1 | -50.0% |
2 Bedrooms | 25 | 24 | -4.0% |
3 Bedrooms | 49 | 55 | +12.2% |
4 Bedrooms | 19 | 22 | +15.8% |
5+ Bedrooms | 3 | 3 | 0.0% |
Summary: The Fairlawn housing inventory by bedroom type for March 2024 compared to the previous month: The inventory of 1 bedroom homes decreased by 50%, 2 bedroom homes decreased by 4%, 3 bedroom homes increased by 12.2%, 4 bedroom homes increased by 15.8%, and 5+ bedroom homes remained the same.
Number of Homes Sold
Feb 2024 | Mar 2024 | CHANGE |
---|---|---|
6 | 4 | -33.3% |
Asking Price vs. Sold Price
1 Home Was Sold
Under Asking
2 Homes Were Sold
At Asking
1 Home Was Sold
Over Asking
Summary: A total of 4 homes were sold or pending in Fairlawn in March 2024, down by 33.3% month-over-month. Of the 4 sold homes, 25% were sold under asking, 50% were sold at asking, and 25% were sold over asking.
Days on Market for Fairlawn, DC
How long does it take to sell a home in Fairlawn, DC?
Average Sale Time
Mar 2023 | Mar 2024 | CHANGE |
---|---|---|
58 Days | 17 Days | -69.8% |
Summary: Homes in Fairlawn had an average of 17 days on market in Mar 2024, down by 69.8% compared to last year.
Breakdown of Home Sale Times
3 Homes Were Sold
Under 30 Days
1 Home Was Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Summary: During March 2024, 4 homes were sold in Fairlawn; 75% of homes were sold within 30 days, 25% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.