Is Fairmount Heights, MD a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since June 2023
Since last year, Fairmount Heights has remained a Seller's Market.
Key Takeaway
Fairmount Heights is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Fairmount Heights, MD
How much do homes in Fairmount Heights, MD cost?
Median Sold Price
$365,000
$249/sqft
Based on all homes sold in the last 12 months.
Difference Since June 2023
Key Takeaway
Homes in Fairmount Heights have sold for 1.2% less than they did a year ago.
Summary: The median home sold price in Fairmount Heights was $365,000 in June 2024, down 1.2% from last year, and the median price per square foot was $249.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Jun 2023 | Jun 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | - | N/A |
| 2 Bedrooms | $207.5K | $215K | +3.6% |
| 3 Bedrooms | $290K | $353K | +21.7% |
| 4 Bedrooms | $375K | $380K | +1.3% |
| 5+ Bedrooms | $437K | $482.5K | +10.4% |
Summary: Fairmount Heights housing prices by bedroom type for June 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes increased by 3.6%, 3 bedroom homes increased by 21.7%, 4 bedroom homes increased by 1.3%, and 5+ bedroom homes increased by 10.4%.
Median Sold Price Compared To Nearby Cities
| Seat Pleasant | $315K | $331K | +5.1% |
| Fairmount Heights | $369.5K | $365K | -1.2% |
Housing Supply in Fairmount Heights, MD
How many homes are available in Fairmount Heights, MD?
Number of Homes For Sale
| May 2024 | Jun 2024 | CHANGE |
|---|---|---|
| 11 | 11 | 0.0% |
Summary: The Fairmount Heights real estate market had 11 homes for sale in June 2024, the same as May 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | May 2024 | Jun 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 0 | 0 | 0.0% |
| 2 Bedrooms | 1 | 1 | 0.0% |
| 3 Bedrooms | 3 | 4 | +33.3% |
| 4 Bedrooms | 6 | 6 | 0.0% |
| 5+ Bedrooms | 1 | 0 | -100.0% |
Summary: The Fairmount Heights housing inventory by bedroom type for June 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes remained the same, 3 bedroom homes increased by 33.3%, 4 bedroom homes remained the same, and 5+ bedroom homes decreased by 100%.
Number of Homes Sold
| May 2024 | Jun 2024 | CHANGE |
|---|---|---|
| 5 | 3 | -40.0% |
Asking Price vs. Sold Price
0 Homes Were Sold
Under Asking
0 Homes Were Sold
At Asking
3 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Fairmount Heights, you could pay more than the asking price. 100% of homes here sold above asking price last month.
Summary: A total of 3 homes were sold or pending in Fairmount Heights in June 2024, down by 40.0% month-over-month. Of the 3 sold homes, 0% were sold under asking, 0% were sold at asking, and 100% 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
| Jun 2023 | Jun 2024 | CHANGE |
|---|---|---|
| 15 Days | 4 Days | -70.2% |
Summary: Homes in Fairmount Heights had an average of 4 days on market in Jun 2024, down by 70.2% compared to last year.
Breakdown of Home Sale Times
3 Homes Were Sold
Under 30 Days
0 Homes Were Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Fairmount Heights are selling fast, if you're buying plan to act quickly.
Summary: During June 2024, 3 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.
