Is Fairlawn, DC a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since May 2023
At the same time last year, Fairlawn was a Seller's Market.
Housing Prices in Fairlawn, DC
How much do homes in Fairlawn, DC cost?
Median Sold Price
$390,000
$275/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Summary: The median home sold price in Fairlawn was $390,000 in May 2024, down 9.3% from last year, and the median price per square foot was $275.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $275K | $65K | -76.4% |
2 Bedrooms | $459K | $340K | -25.9% |
3 Bedrooms | $395K | $360K | -8.9% |
4 Bedrooms | $575K | $435K | -24.3% |
5+ Bedrooms | $540K | $550K | +1.9% |
Summary: Fairlawn housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 76.4%, 2 bedroom homes decreased by 25.9%, 3 bedroom homes decreased by 8.9%, 4 bedroom homes decreased by 24.3%, and 5+ bedroom homes increased by 1.9%.
Median Sold Price Compared To Nearby Neighborhoods
Southeast | $480.5K | $479.5K | -0.2% |
Fairlawn | $430K | $390K | -9.3% |
Housing Supply in Fairlawn, DC
How many homes are available in Fairlawn, DC?
Number of Homes For Sale
Apr 2024 | May 2024 | CHANGE |
---|---|---|
36 | 46 | +27.8% |
Summary: The Fairlawn real estate market had 46 homes for sale in May 2024, a 27.8% increase compared to April 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 1 | 1 | 0.0% |
2 Bedrooms | 7 | 12 | +71.4% |
3 Bedrooms | 19 | 21 | +10.5% |
4 Bedrooms | 9 | 12 | +33.3% |
5+ Bedrooms | 0 | 0 | 0.0% |
Summary: The Fairlawn housing inventory by bedroom type for May 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes increased by 71.4%, 3 bedroom homes increased by 10.5%, 4 bedroom homes increased by 33.3%, and 5+ bedroom homes remained the same.
Number of Homes Sold
Apr 2024 | May 2024 | CHANGE |
---|---|---|
5 | 4 | -20.0% |
Asking Price vs. Sold Price
2 Homes Were Sold
Under Asking
2 Homes Were Sold
At Asking
0 Homes Were Sold
Over Asking
Summary: A total of 4 homes were sold or pending in Fairlawn in May 2024, down by 20.0% month-over-month. Of the 4 sold homes, 50% were sold under asking, 50% were sold at asking, and 0% were sold over asking.
Days on Market for Fairlawn, DC
How long does it take to sell a home in Fairlawn, DC?
Average Sale Time
May 2023 | May 2024 | CHANGE |
---|---|---|
24 Days | 21 Days | -11.5% |
Summary: Homes in Fairlawn had an average of 21 days on market in May 2024, down by 11.5% compared to last year.
Breakdown of Home Sale Times
3 Homes Were Sold
Under 30 Days
1 Home Was Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Summary: During May 2024, 4 homes were sold in Fairlawn; 75% of homes were sold within 30 days, 25% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.