Is Fairfield, NJ a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since March 2023
At the same time last year, Fairfield was a Seller's Market.
Key Takeaway
Fairfield is a Buyers Housing Market, which means prices tend to be lower and homes stay on the market longer.
Housing Prices in Fairfield, NJ
How much do homes in Fairfield, NJ cost?
Median Sold Price
$650,000
-
Based on all homes sold in the last 12 months.
The Median Sold Price hasn't changed since March 2023.
Key Takeaway
The sold price of homes in Fairfield has remained the same since last year.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | - | N/A |
| 2 Bedrooms | $585K | $620K | +6.0% |
| 3 Bedrooms | $550K | $585K | +6.4% |
| 4 Bedrooms | $711K | $730K | +2.7% |
| 5+ Bedrooms | $795K | $1.0M | +28.2% |
Summary: Fairfield 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 increased by 6%, 3 bedroom homes increased by 6.4%, 4 bedroom homes increased by 2.7%, and 5+ bedroom homes increased by 28.2%.
Median Sold Price Compared To Nearby Cities
| Pine Brook | $694K | $805K | +16.0% |
| Lincoln Park | $400K | $439.5K | +9.9% |
| Montville Township | $699.9K | $739K | +5.6% |
| Fairfield Township | $640K | $650K | +1.6% |
| Fairfield | $650K | $650K | 0.0% |
Housing Supply in Fairfield, NJ
How many homes are available in Fairfield, NJ?
Number of Homes For Sale
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 19 | 23 | +21.1% |
Summary: The Fairfield real estate market had 23 homes for sale in March 2024, a 21.1% increase compared to February 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 0 | 0 | 0.0% |
| 2 Bedrooms | 0 | 0 | 0.0% |
| 3 Bedrooms | 8 | 9 | +12.5% |
| 4 Bedrooms | 8 | 12 | +50.0% |
| 5+ Bedrooms | 3 | 2 | -33.3% |
Summary: The Fairfield housing inventory by bedroom type for March 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 12.5%, 4 bedroom homes increased by 50%, and 5+ bedroom homes decreased by 33.3%.
Number of Homes Sold
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 5 | 2 | -60.0% |
Asking Price vs. Sold Price
0 Homes Were Sold
Under Asking
1 Home Was Sold
At Asking
1 Home Was Sold
Over Asking
Key Takeaway
If you're buying a home in Fairfield, expect to pay close to the asking price. 50% of homes here sold near the asking price last month.
Summary: A total of 2 homes were sold or pending in Fairfield in March 2024, down by 60.0% month-over-month. Of the 2 sold homes, 0% were sold under asking, 50% were sold at asking, and 50% were sold over asking.
Days on Market for Fairfield, NJ
We’re sorry, we don't have information for this market at the moment
