Is Fairlawn, OH a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Fairlawn is a seller's market

Buyer's
Market

Difference Since November 2021

Since last year, Fairlawn has remained a Seller's Market.

Key Takeaway

Fairlawn is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.

How much do homes in Fairlawn, OH cost?

Median Sold Price

$290,000

$128/sqft

Based on all homes sold in the last 12 months.

Difference Since November 2021

+$47,000(+19.3%)

Key Takeaway

Homes in Fairlawn have sold for 19.3% more than they did a year ago.

Median Sold Price By Bedroom Count

# BEDSNov 2021Nov 2022%
1 -$109.2K
N/A
2 $152.6K$171K
+12.0%
3 $239.1K$283K
+18.3%
4 $292K$350K
+19.9%
5+ $540K$396.2K
-26.6%

Median Sold Price Compared To Nearby Cities

Fairlawn
+19.3%
Akron
+7.9%
Bath Township
+4.1%
Copley Township
+2.1%

How many homes are available in Fairlawn, OH?

Number of Homes For Sale

Oct 2022Nov 2022%
3531-11.4%

Homes For Sale By Bedroom Count

# BEDSOct 2022Nov 2022%
1 00
0.0%
2 32
-33.3%
3 1814
-22.2%
4 1314
+7.7%
5+ 11
0.0%

Number of Homes Sold

Oct 2022Nov 2022%
10100.0%

Asking Price vs. Sold Price

4 Homes Were Sold
Under Asking

5 Homes Were Sold
At Asking

1 Home Was Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Fairlawn, expect to pay close to the asking price. 50% of homes here sold near the asking price last month.

Average Sale Time

Nov 2021Nov 2022%
21 Days27 Days+31.0%

Breakdown of Home Sale Times

7 Homes Were Sold
Under 30 Days

3 Homes Were Sold
In 30 - 90 Days

0 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

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

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

About Fairlawn, OH

Fairlawn, OH has 31 homes for sale to choose from. Between October 2022 and November 2022, Fairlawn, OH real estate market has seen decrease in the number of listings by 11.4%. While the average time on the market in November 2022 was 27 days, the median list price was $290,000. From October 2022 through November 2022, the following changes in listing prices were observed in this housing market: prices of 1 bedroom properties increased by 0%, the cost of 2 bedrooms properties went up by 12%, 3 bedrooms properties became 18.3% more expensive, 4 bedrooms properties prices increased by 19.9%, 5 bedrooms properties prices decreased by 26.6%. Housing inventory have changed in this real estate market: number of 1 bedroom homes remained the same, volume of 2 bedrooms homes went down by 33.3%, the quantity of 3 bedrooms homes went down by 22.2%, 4 bedrooms homes became 7.7% more available, the quantity of 5 bedrooms homes have not changed. In November 2022 more than 1 listings in Fairlawn, OH were sold above the asking price. During the same period more than 5 listings were sold at asking price, while more than 4 were sold below.

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