Is Fairmount Heights, MD a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Fairmount Heights is a buyer's market

Buyer's
Market

Difference Since January 2023

At the same time last year, Fairmount Heights was a Seller's Market.

Key Takeaway

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

Housing Prices in Fairmount Heights, MD

How much do homes in Fairmount Heights, MD cost?

Median Sold Price

$362,500

$241/sqft

Based on all homes sold in the last 12 months.

Difference Since January 2023

+$6,500(+1.8%)

Key Takeaway

Homes in Fairmount Heights have sold for 1.8% more than they did a year ago.

Summary: The median home sold price in Fairmount Heights was $362,500 in January 2024, up 1.8% from last year, and the median price per square foot was $241.

Median Sold Price By Bedroom Count

# BEDSJan 2023Jan 2024CHANGE
1 --
N/A
2 -$165K
N/A
3 $310K$347K
+11.9%
4 $382.5K$369.7K
-3.3%
5+ $351.4K$485.9K
+38.3%

Summary: Fairmount Heights housing prices by bedroom type for January 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes did not change, 3 bedroom homes increased by 11.9%, 4 bedroom homes decreased by 3.3%, and 5+ bedroom homes increased by 38.3%.

Housing Supply in Fairmount Heights, MD

How many homes are available in Fairmount Heights, MD?

Number of Homes For Sale

Dec 2023Jan 2024CHANGE
31310.0%

Summary: The Fairmount Heights real estate market had 31 homes for sale in January 2024, the same as December 2023.

Homes For Sale By Bedroom Count

# BEDSDec 2023Jan 2024CHANGE
1 00
0.0%
2 43
-25.0%
3 99
0.0%
4 1415
+7.1%
5+ 44
0.0%

Summary: The Fairmount Heights 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 25%, 3 bedroom homes remained the same, 4 bedroom homes increased by 7.1%, and 5+ bedroom homes remained the same.

Number of Homes Sold

Dec 2023Jan 2024CHANGE
32-33.3%

Asking Price vs. Sold Price

1 Home Was Sold
Under Asking

1 Home Was Sold
At Asking

0 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

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

Summary: A total of 2 homes were sold or pending in Fairmount Heights in January 2024, down by 33.3% month-over-month. Of the 2 sold homes, 50% were sold under asking, 50% were sold at asking, and 0% were sold over asking.

Days on Market for Fairmount Heights, MD

How long does it take to sell a home in Fairmount Heights, MD?

Average Sale Time

Jan 2023Jan 2024CHANGE
63 Days11 Days-81.9%

Summary: Homes in Fairmount Heights had an average of 11 days on market in Jan 2024, down by 81.9% compared to last year.

Breakdown of Home Sale Times

2 Homes Were Sold
Under 30 Days

0 Homes Were Sold
In 30 - 90 Days

0 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

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

Summary: During January 2024, 2 homes were sold in Fairmount Heights; 100% of homes were sold within 30 days, 0% of homes were sold within 30 to 90 days, and 0% 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 21 Days Ago

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