Is Fairmount, PA 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 Seller's Market.
Key Takeaway
Fairmount is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Fairmount, PA
How much do homes in Fairmount, PA cost?
Median Sold Price
$460,006
$336/sqft
Based on all homes sold in the last 12 months.
Difference Since April 2023
Key Takeaway
Homes in Fairmount have sold for 1.1% more than they did a year ago.
Summary: The median home sold price in Fairmount was $460,006 in April 2024, up 1.1% from last year, and the median price per square foot was $336.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $242.5K | $227.9K | -6.0% |
| 2 Bedrooms | $403K | $395K | -2.0% |
| 3 Bedrooms | $549K | $535K | -2.6% |
| 4 Bedrooms | $654.5K | $700K | +7.0% |
| 5+ Bedrooms | $771.5K | $430K | -44.3% |
Summary: Fairmount housing prices by bedroom type for April 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 6%, 2 bedroom homes decreased by 2%, 3 bedroom homes decreased by 2.6%, 4 bedroom homes increased by 7%, and 5+ bedroom homes decreased by 44.3%.
Median Sold Price Compared To Nearby Neighborhoods
| Spring Garden | $350K | $507.5K | +45.0% |
| Cabot | $294.5K | $387.5K | +31.6% |
| Brewerytown | $304.4K | $315K | +3.5% |
| Fairmount | $455K | $460K | +1.1% |
Housing Supply in Fairmount, PA
How many homes are available in Fairmount, PA?
Number of Homes For Sale
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 102 | 110 | +7.8% |
Summary: The Fairmount real estate market had 110 homes for sale in April 2024, a 7.8% increase compared to March 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 17 | 16 | -5.9% |
| 2 Bedrooms | 25 | 25 | 0.0% |
| 3 Bedrooms | 37 | 41 | +10.8% |
| 4 Bedrooms | 19 | 22 | +15.8% |
| 5+ Bedrooms | 4 | 6 | +50.0% |
Summary: The Fairmount housing inventory by bedroom type for April 2024 compared to the previous month: The inventory of 1 bedroom homes decreased by 5.9%, 2 bedroom homes remained the same, 3 bedroom homes increased by 10.8%, 4 bedroom homes increased by 15.8%, and 5+ bedroom homes increased by 50%.
Number of Homes Sold
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 15 | 21 | +40.0% |
Asking Price vs. Sold Price
12 Homes Were Sold
Under Asking
4 Homes Were Sold
At Asking
5 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Fairmount, you may be able to get a good deal. 57.1% of homes here sold below asking price last month.
Summary: A total of 21 homes were sold or pending in Fairmount in April 2024, up by 40.0% month-over-month. Of the 21 sold homes, 57% were sold under asking, 19% were sold at asking, and 24% were sold over asking.
Days on Market for Fairmount, PA
How long does it take to sell a home in Fairmount, PA?
Average Sale Time
| Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|
| 76 Days | 46 Days | -39.7% |
Summary: Homes in Fairmount had an average of 46 days on market in Apr 2024, down by 39.7% compared to last year.
Breakdown of Home Sale Times
10 Homes Were Sold
Under 30 Days
7 Homes Were Sold
In 30 - 90 Days
4 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, 21 homes were sold in Fairmount; 48% of homes were sold within 30 days, 33% of homes were sold within 30 to 90 days, and 19% of homes were sold over 90 days.
