Is Fairfield, NJ a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since April 2023
At the same time last year, Fairfield was a Neutral Market.
Key Takeaway
Fairfield is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Fairfield, NJ
How much do homes in Fairfield, NJ cost?
Median Sold Price
$700,000
-
Based on all homes sold in the last 12 months.
Difference Since April 2023
Key Takeaway
Homes in Fairfield have sold for 6.5% more than they did a year ago.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | - | N/A |
| 2 Bedrooms | $575K | $620K | +7.8% |
| 3 Bedrooms | $577.5K | $599.9K | +3.9% |
| 4 Bedrooms | $715K | $727.5K | +1.7% |
| 5+ Bedrooms | $887.5K | $1.0M | +14.9% |
Summary: Fairfield housing prices by bedroom type for April 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes increased by 7.8%, 3 bedroom homes increased by 3.9%, 4 bedroom homes increased by 1.7%, and 5+ bedroom homes increased by 14.9%.
Median Sold Price Compared To Nearby Cities
| Lincoln Park | $404K | $450K | +11.4% |
| Fairfield Township | $650K | $700K | +7.7% |
| Fairfield | $657.5K | $700K | +6.5% |
| Montville Township | $707.5K | $739.5K | +4.5% |
Housing Supply in Fairfield, NJ
How many homes are available in Fairfield, NJ?
Number of Homes For Sale
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 24 | 28 | +16.7% |
Summary: The Fairfield real estate market had 28 homes for sale in April 2024, a 16.7% increase compared to March 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 0 | 0 | 0.0% |
| 2 Bedrooms | 0 | 0 | 0.0% |
| 3 Bedrooms | 8 | 10 | +25.0% |
| 4 Bedrooms | 14 | 16 | +14.3% |
| 5+ Bedrooms | 2 | 2 | 0.0% |
Summary: The Fairfield housing inventory by bedroom type for April 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes remained the same, 3 bedroom homes increased by 25%, 4 bedroom homes increased by 14.3%, and 5+ bedroom homes remained the same.
Number of Homes Sold
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 2 | 8 | +300.0% |
Asking Price vs. Sold Price
1 Home Was Sold
Under Asking
0 Homes Were Sold
At Asking
7 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Fairfield, you could pay more than the asking price. 87.5% of homes here sold above asking price last month.
Summary: A total of 8 homes were sold or pending in Fairfield in April 2024, up by 300.0% month-over-month. Of the 8 sold homes, 13% were sold under asking, 0% were sold at asking, and 88% were sold over asking.
Days on Market for Fairfield, NJ
We’re sorry, we don't have information for this market at the moment
