Is Fairfield, CA a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since May 2023
Since last year, Fairfield has remained a Seller's Market.
Key Takeaway
Fairfield is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Fairfield, CA
How much do homes in Fairfield, CA cost?
Median Sold Price
$625,000
$340/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Key Takeaway
Homes in Fairfield have sold for 4.5% more than they did a year ago.
Summary: The median home sold price in Fairfield was $625,000 in May 2024, up 4.5% from last year, and the median price per square foot was $340.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $266K | $280K | +5.3% |
| 2 Bedrooms | $396.2K | $402.5K | +1.6% |
| 3 Bedrooms | $540K | $548K | +1.5% |
| 4 Bedrooms | $668.9K | $688.5K | +2.9% |
| 5+ Bedrooms | $795K | $799.9K | +0.6% |
Summary: Fairfield housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes increased by 5.3%, 2 bedroom homes increased by 1.6%, 3 bedroom homes increased by 1.5%, 4 bedroom homes increased by 2.9%, and 5+ bedroom homes increased by 0.6%.
Median Sold Price Compared To Nearby Cities
| Fairfield | $598.1K | $625K | +4.5% |
| Fairfield-Suisun City | $579.6K | $600K | +3.5% |
| Suisun City | $537.1K | $549.5K | +2.3% |
Housing Supply in Fairfield, CA
How many homes are available in Fairfield, CA?
Number of Homes For Sale
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 234 | 263 | +12.4% |
Summary: The Fairfield real estate market had 263 homes for sale in May 2024, a 12.4% increase compared to April 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 0 | 2 | +100.0% |
| 2 Bedrooms | 21 | 24 | +14.3% |
| 3 Bedrooms | 94 | 96 | +2.1% |
| 4 Bedrooms | 91 | 109 | +19.8% |
| 5+ Bedrooms | 28 | 32 | +14.3% |
Summary: The Fairfield housing inventory by bedroom type for May 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 100%, 2 bedroom homes increased by 14.3%, 3 bedroom homes increased by 2.1%, 4 bedroom homes increased by 19.8%, and 5+ bedroom homes increased by 14.3%.
Number of Homes Sold
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 65 | 62 | -4.6% |
Asking Price vs. Sold Price
23 Homes Were Sold
Under Asking
10 Homes Were Sold
At Asking
28 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Fairfield, you could pay more than the asking price. 45.9% of homes here sold above asking price last month.
Summary: A total of 62 homes were sold or pending in Fairfield in May 2024, down by 4.6% month-over-month. Of the 61 sold homes, 38% were sold under asking, 16% were sold at asking, and 46% were sold over asking.
Days on Market for Fairfield, CA
How long does it take to sell a home in Fairfield, CA?
Average Sale Time
| May 2023 | May 2024 | CHANGE |
|---|---|---|
| 22 Days | 28 Days | +28.4% |
Summary: Homes in Fairfield had an average of 28 days on market in May 2024, up by 28.4% compared to last year.
Breakdown of Home Sale Times
9 Homes Were Sold
Under 30 Days
6 Homes Were Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Fairfield are selling fast, if you're buying plan to act quickly.
Summary: During May 2024, 62 homes were sold in Fairfield; 15% of homes were sold within 30 days, 10% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.
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