Is Fairwood, WA 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, Fairwood has remained a Seller's Market.
Key Takeaway
Fairwood is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Fairwood, WA
How much do homes in Fairwood, WA cost?
Median Sold Price
$740,000
$363/sqft
Based on all homes sold in the last 12 months.
Difference Since April 2023
Key Takeaway
Homes in Fairwood have sold for 1% more than they did a year ago.
Summary: The median home sold price in Fairwood was $740,000 in April 2024, up 1% from last year, and the median price per square foot was $363.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $320K | $268.5K | -16.1% |
| 2 Bedrooms | $315K | $325K | +3.2% |
| 3 Bedrooms | $699K | $700K | 0.1% |
| 4 Bedrooms | $764K | $767.5K | 0.5% |
| 5+ Bedrooms | $849.9K | $805K | -5.3% |
Summary: Fairwood housing prices by bedroom type for April 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 16.1%, 2 bedroom homes increased by 3.2%, 3 bedroom homes increased by 0.1%, 4 bedroom homes increased by 0.5%, and 5+ bedroom homes decreased by 5.3%.
Housing Supply in Fairwood, WA
How many homes are available in Fairwood, WA?
Number of Homes For Sale
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 31 | 43 | +38.7% |
Summary: The Fairwood real estate market had 43 homes for sale in April 2024, a 38.7% increase compared to March 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 1 | 2 | +100.0% |
| 2 Bedrooms | 5 | 6 | +20.0% |
| 3 Bedrooms | 9 | 10 | +11.1% |
| 4 Bedrooms | 13 | 20 | +53.8% |
| 5+ Bedrooms | 3 | 5 | +66.7% |
Summary: The Fairwood housing inventory by bedroom type for April 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 100%, 2 bedroom homes increased by 20%, 3 bedroom homes increased by 11.1%, 4 bedroom homes increased by 53.8%, and 5+ bedroom homes increased by 66.7%.
Number of Homes Sold
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 8 | 21 | +162.5% |
Asking Price vs. Sold Price
6 Homes Were Sold
Under Asking
2 Homes Were Sold
At Asking
13 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Fairwood, you could pay more than the asking price. 61.9% of homes here sold above asking price last month.
Summary: A total of 21 homes were sold or pending in Fairwood in April 2024, up by 162.5% month-over-month. Of the 21 sold homes, 29% were sold under asking, 10% were sold at asking, and 62% were sold over asking.
Days on Market for Fairwood, WA
How long does it take to sell a home in Fairwood, WA?
Average Sale Time
| Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|
| 10 Days | 16 Days | +54.4% |
Summary: Homes in Fairwood had an average of 16 days on market in Apr 2024, up by 54.4% compared to last year.
Breakdown of Home Sale Times
17 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 Fairwood are selling fast, if you're buying plan to act quickly.
Summary: During April 2024, 21 homes were sold in Fairwood; 81% of homes were sold within 30 days, 14% of homes were sold within 30 to 90 days, and 5% of homes were sold over 90 days.
Listings courtesy of Northwest Multiple Listing Service as distributed by MLS GRID.
The data relating to real estate for sale on this website comes in part from the Internet Data Exchange program of Northwest MLS IDX. Real estate listings held by other brokerage firms are marked with the green "three trees" logo and includes the name of the listing broker(s). Copyright © 2024 Northwest MLS. All rights reserved.