Is Fair Lawn, NJ a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Fair Lawn is a neutral's market

Buyer's
Market

Difference Since September 2023

At the same time last year, Fair Lawn was a Seller's Market.

Key Takeaway

Fair Lawn is a Neutral Housing Market, which means prices tend to be reasonable and homes stay on the market for a typical length of time.

Housing Prices in Fair Lawn, NJ

How much do homes in Fair Lawn, NJ cost?

Median Sold Price

$619,000

$404/sqft

Based on all homes sold in the last 12 months.

Difference Since September 2023

+$54,000(+9.6%)

Key Takeaway

Homes in Fair Lawn have sold for 9.6% more than they did a year ago.

Summary: The median home sold price in Fair Lawn was $619,000 in September 2024, up 9.6% from last year, and the median price per square foot was $404.

Median Sold Price By Bedroom Count

# BEDSSep 2023Sep 2024CHANGE
1 $242.5K-
N/A
2 $412.5K$389K
-5.7%
3 $530K$572.5K
+8.0%
4 $600K$715K
+19.2%
5+ $845K$930K
+10.1%

Summary: Fair Lawn housing prices by bedroom type for September 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes decreased by 5.7%, 3 bedroom homes increased by 8%, 4 bedroom homes increased by 19.2%, and 5+ bedroom homes increased by 10.1%.

Median Sold Price Compared To Nearby Cities

Hawthorne
+11.8%
Fair Lawn
+9.6%
Glen Rock
+4.0%

Housing Supply in Fair Lawn, NJ

How many homes are available in Fair Lawn, NJ?

Number of Homes For Sale

Aug 2024Sep 2024CHANGE
4356+30.2%

Summary: The Fair Lawn real estate market had 56 homes for sale in September 2024, a 30.2% increase compared to August 2024.

Homes For Sale By Bedroom Count

# BEDSAug 2024Sep 2024CHANGE
1 01
+100.0%
2 23
+50.0%
3 2530
+20.0%
4 1213
+8.3%
5+ 49
+125.0%

Summary: The Fair Lawn housing inventory by bedroom type for September 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 100%, 2 bedroom homes increased by 50%, 3 bedroom homes increased by 20%, 4 bedroom homes increased by 8.3%, and 5+ bedroom homes increased by 125%.

Number of Homes Sold

Aug 2024Sep 2024CHANGE
98-11.1%

Asking Price vs. Sold Price

1 Home Was Sold
Under Asking

0 Homes Were Sold
At Asking

7 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Fair Lawn, you could pay more than the asking price. 87.5% of homes here sold above asking price last month.

Summary: A total of 8 homes were sold or pending in Fair Lawn in September 2024, down by 11.1% month-over-month. Of the 8 sold homes, 13% were sold under asking, 0% were sold at asking, and 88% were sold over asking.

Days on Market for Fair Lawn, NJ

We’re sorry, we don't have information for this market at the moment

Housing Market Reports are calculated by Rocket Homes Real Estate and based on information from the MLS.

Report Updated 6 Days Ago

Newest Listings in Fair Lawn, NJ

Nearby Markets to Fair Lawn, NJ

What housing markets are near Fair Lawn, NJ?