Is Fairland, MD a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since April 2023
Since last year, Fairland has remained a Seller's Market.
Key Takeaway
Fairland is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Fairland, MD
How much do homes in Fairland, MD cost?
Median Sold Price
$405,000
$244/sqft
Based on all homes sold in the last 12 months.
Difference Since April 2023
Key Takeaway
Homes in Fairland have sold for 1.3% more than they did a year ago.
Summary: The median home sold price in Fairland was $405,000 in April 2024, up 1.3% from last year, and the median price per square foot was $244.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $190K | $205K | +7.9% |
| 2 Bedrooms | $283.7K | $282.5K | -0.4% |
| 3 Bedrooms | $405K | $405K | 0.0% |
| 4 Bedrooms | $620K | $655K | +5.6% |
| 5+ Bedrooms | $695K | $699K | +0.6% |
Summary: Fairland housing prices by bedroom type for April 2024 compared to the previous year: The home price of 1 bedroom homes increased by 7.9%, 2 bedroom homes decreased by 0.4%, 3 bedroom homes did not change, 4 bedroom homes increased by 5.6%, and 5+ bedroom homes increased by 0.6%.
Median Sold Price Compared To Nearby Neighborhoods
| Fairland | $400K | $405K | +1.3% |
| Greencastle Lakes | $400K | $370K | -7.5% |
Housing Supply in Fairland, MD
How many homes are available in Fairland, MD?
Number of Homes For Sale
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 32 | 31 | -3.1% |
Summary: The Fairland real estate market had 31 homes for sale in April 2024, a 3.1% decrease compared to March 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 2 | 2 | 0.0% |
| 2 Bedrooms | 9 | 9 | 0.0% |
| 3 Bedrooms | 16 | 15 | -6.3% |
| 4 Bedrooms | 4 | 3 | -25.0% |
| 5+ Bedrooms | 1 | 2 | +100.0% |
Summary: The Fairland housing inventory by bedroom type for April 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes remained the same, 3 bedroom homes decreased by 6.3%, 4 bedroom homes decreased by 25%, and 5+ bedroom homes increased by 100%.
Number of Homes Sold
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 11 | 14 | +27.3% |
Asking Price vs. Sold Price
1 Home Was Sold
Under Asking
2 Homes Were Sold
At Asking
11 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Fairland, you could pay more than the asking price. 78.6% of homes here sold above asking price last month.
Summary: A total of 14 homes were sold or pending in Fairland in April 2024, up by 27.3% month-over-month. Of the 14 sold homes, 7% were sold under asking, 14% were sold at asking, and 79% were sold over asking.
Days on Market for Fairland, MD
How long does it take to sell a home in Fairland, MD?
Average Sale Time
| Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|
| 9 Days | 13 Days | +37.6% |
Summary: Homes in Fairland had an average of 13 days on market in Apr 2024, up by 37.6% compared to last year.
Breakdown of Home Sale Times
13 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 Fairland are selling fast, if you're buying plan to act quickly.
Summary: During April 2024, 14 homes were sold in Fairland; 93% of homes were sold within 30 days, 7% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.
