Is Fairmount, NY 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, Fairmount has remained a Buyer's Market.
Key Takeaway
Fairmount is a Buyers Housing Market, which means prices tend to be lower and homes stay on the market longer.
Housing Prices in Fairmount, NY
How much do homes in Fairmount, NY cost?
Median Sold Price
$233,250
$159/sqft
Based on all homes sold in the last 12 months.
Difference Since April 2023
Key Takeaway
Homes in Fairmount have sold for 24.2% more than they did a year ago.
Summary: The median home sold price in Fairmount was $233,250 in April 2024, up 24.2% from last year, and the median price per square foot was $159.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | $62K | N/A |
| 2 Bedrooms | $151.5K | $160K | +5.6% |
| 3 Bedrooms | $186.2K | $230K | +23.5% |
| 4 Bedrooms | $203.8K | $248.5K | +21.9% |
| 5+ Bedrooms | $225K | $350K | +55.6% |
Summary: Fairmount housing prices by bedroom type for April 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes increased by 5.6%, 3 bedroom homes increased by 23.5%, 4 bedroom homes increased by 21.9%, and 5+ bedroom homes increased by 55.6%.
Median Sold Price Compared To Nearby Neighborhoods
| Fairmount | $187.7K | $233.2K | +24.2% |
| Westvale | $227K | $234.9K | +3.5% |
Housing Supply in Fairmount, NY
How many homes are available in Fairmount, NY?
Number of Homes For Sale
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 23 | 23 | 0.0% |
Summary: The Fairmount real estate market had 23 homes for sale in April 2024, the same as March 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 0 | 0 | 0.0% |
| 2 Bedrooms | 5 | 1 | -80.0% |
| 3 Bedrooms | 13 | 15 | +15.4% |
| 4 Bedrooms | 5 | 7 | +40.0% |
| 5+ Bedrooms | 0 | 0 | 0.0% |
Summary: The Fairmount 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 decreased by 80%, 3 bedroom homes increased by 15.4%, 4 bedroom homes increased by 40%, and 5+ bedroom homes remained the same.
Number of Homes Sold
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 6 | 3 | -50.0% |
Asking Price vs. Sold Price
1 Home Was Sold
Under Asking
0 Homes Were Sold
At Asking
2 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Fairmount, you could pay more than the asking price. 66.7% of homes here sold above asking price last month.
Summary: A total of 3 homes were sold or pending in Fairmount in April 2024, down by 50.0% month-over-month. Of the 3 sold homes, 33% were sold under asking, 0% were sold at asking, and 67% were sold over asking.
Days on Market for Fairmount, NY
How long does it take to sell a home in Fairmount, NY?
Average Sale Time
| Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|
| 5 Days | 6 Days | +33.3% |
Summary: Homes in Fairmount had an average of 6 days on market in Apr 2024, up by 33.3% 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 are selling fast, if you're buying plan to act quickly.
Summary: During April 2024, 3 homes were sold in Fairmount; 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.
