$10,000 Closing Credit*
$925,000
2,524 SqFt
4 Beds
•3 Full Baths
Ben Frederick, Listing Office: Seattle Works Real Estate
Is Fairwood, WA a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since September 2023
At the same time last year, Fairwood was a Seller's Market.
Key Takeaway
Fairwood is a Buyers Housing Market, which means prices tend to be lower and homes stay on the market longer.
Housing Prices in Fairwood, WA
How much do homes in Fairwood, WA cost?
Median Sold Price
$762,500
$362/sqft
Based on all homes sold in the last 12 months.
Difference Since September 2023
+$26,000(+3.5%)
Key Takeaway
Homes in Fairwood have sold for 3.5% more than they did a year ago.
Summary: The median home sold price in Fairwood was $762,500 in September 2024, up 3.5% from last year, and the median price per square foot was $362.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Sep 2023 | Sep 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $290K | $256.5K | -11.6% |
| 2 Bedrooms | $300K | $319.9K | +6.7% |
| 3 Bedrooms | $690K | $735K | +6.5% |
| 4 Bedrooms | $750K | $822.5K | +9.7% |
| 5+ Bedrooms | $790K | $917.5K | +16.1% |
Summary: Fairwood housing prices by bedroom type for September 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 11.6%, 2 bedroom homes increased by 6.7%, 3 bedroom homes increased by 6.5%, 4 bedroom homes increased by 9.7%, and 5+ bedroom homes increased by 16.1%.
Housing Supply in Fairwood, WA
How many homes are available in Fairwood, WA?
Number of Homes For Sale
| Aug 2024 | Sep 2024 | CHANGE |
|---|---|---|
| 46 | 64 | +39.1% |
Summary: The Fairwood real estate market had 64 homes for sale in September 2024, a 39.1% increase compared to August 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Aug 2024 | Sep 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 2 | 4 | +100.0% |
| 2 Bedrooms | 4 | 5 | +25.0% |
| 3 Bedrooms | 17 | 19 | +11.8% |
| 4 Bedrooms | 18 | 31 | +72.2% |
| 5+ Bedrooms | 5 | 5 | 0.0% |
Summary: The Fairwood housing inventory by bedroom type for September 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 100%, 2 bedroom homes increased by 25%, 3 bedroom homes increased by 11.8%, 4 bedroom homes increased by 72.2%, and 5+ bedroom homes remained the same.
Number of Homes Sold
| Aug 2024 | Sep 2024 | CHANGE |
|---|---|---|
| 15 | 8 | -46.7% |
Asking Price vs. Sold Price
4 Homes Were Sold
Under Asking
1 Home Was Sold
At Asking
3 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Fairwood, you may be able to get a good deal. 50% of homes here sold below asking price last month.
Summary: A total of 8 homes were sold or pending in Fairwood in September 2024, down by 46.7% month-over-month. Of the 8 sold homes, 50% were sold under asking, 13% were sold at asking, and 38% 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
| Sep 2023 | Sep 2024 | CHANGE |
|---|---|---|
| 17 Days | 12 Days | -29.3% |
Summary: Homes in Fairwood had an average of 12 days on market in Sep 2024, down by 29.3% compared to last year.
Breakdown of Home Sale Times
7 Homes Were Sold
Under 30 Days
1 Home Was Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Fairwood are selling fast, if you're buying plan to act quickly.
Summary: During September 2024, 8 homes were sold in Fairwood; 88% of homes were sold within 30 days, 13% of homes were sold within 30 to 90 days, and 0% 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.