Is Fairlawn, OH a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since March 2023
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.
Housing Prices in Fairlawn, OH
How much do homes in Fairlawn, OH cost?
Median Sold Price
$266,000
$137/sqft
Based on all homes sold in the last 12 months.
Difference Since March 2023
Key Takeaway
Homes in Fairlawn have sold for 6.7% less than they did a year ago.
Summary: The median home sold price in Fairlawn was $266,000 in March 2024, down 6.7% from last year, and the median price per square foot was $137.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $109.2K | - | N/A |
| 2 Bedrooms | $175K | $188K | +7.4% |
| 3 Bedrooms | $277.5K | $260K | -6.3% |
| 4 Bedrooms | $377K | $398.7K | +5.8% |
| 5+ Bedrooms | $400K | $810K | +102.5% |
Summary: Fairlawn 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 7.4%, 3 bedroom homes decreased by 6.3%, 4 bedroom homes increased by 5.8%, and 5+ bedroom homes increased by 102.5%.
Median Sold Price Compared To Nearby Cities
| Copley Township | $289K | $320K | +10.7% |
| Akron | $127.4K | $130K | +2.0% |
| Bath Township | $457K | $455.2K | -0.4% |
| Fairlawn | $285K | $266K | -6.7% |
Housing Supply in Fairlawn, OH
How many homes are available in Fairlawn, OH?
Number of Homes For Sale
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 27 | 25 | -7.4% |
Summary: The Fairlawn real estate market had 25 homes for sale in March 2024, a 7.4% decrease 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 | 6 | 7 | +16.7% |
| 3 Bedrooms | 10 | 10 | 0.0% |
| 4 Bedrooms | 10 | 7 | -30.0% |
| 5+ Bedrooms | 1 | 1 | 0.0% |
Summary: The Fairlawn 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 increased by 16.7%, 3 bedroom homes remained the same, 4 bedroom homes decreased by 30%, and 5+ bedroom homes remained the same.
Number of Homes Sold
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 7 | 10 | +42.9% |
Asking Price vs. Sold Price
7 Homes Were Sold
Under Asking
1 Home Was Sold
At Asking
2 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Fairlawn, you may be able to get a good deal. 70% of homes here sold below asking price last month.
Summary: A total of 10 homes were sold or pending in Fairlawn in March 2024, up by 42.9% month-over-month. Of the 10 sold homes, 70% were sold under asking, 10% were sold at asking, and 20% were sold over asking.
Days on Market for Fairlawn, OH
How long does it take to sell a home in Fairlawn, OH?
Average Sale Time
| Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|
| 25 Days | 36 Days | +42.4% |
Summary: Homes in Fairlawn had an average of 36 days on market in Mar 2024, up by 42.4% compared to last year.
Breakdown of Home Sale Times
6 Homes Were Sold
Under 30 Days
3 Homes Were Sold
In 30 - 90 Days
1 Home Was Sold
Over 90 Days
Key Takeaway
Many homes in Fairlawn are selling fast, if you're buying plan to act quickly.
Summary: During March 2024, 10 homes were sold in Fairlawn; 60% of homes were sold within 30 days, 30% of homes were sold within 30 to 90 days, and 10% of homes were sold over 90 days.
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