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.
Key Takeaway
Fairlawn is a Buyers Housing Market, which means prices tend to be lower and homes stay on the market longer.
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
Key Takeaway
Homes in Fairlawn have sold for 6% less than they did a year ago.
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
Key Takeaway
If you're buying a home in Fairlawn, expect to pay close to the asking price. 50% of homes here sold near the asking price last month.
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
Key Takeaway
Many homes in Fairlawn are selling fast, if you're buying plan to act quickly.
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.
