Is Fairlawn, OH 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, Fairlawn has remained a Seller's Market.
Key Takeaway
Fairlawn is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Fairlawn, OH
How much do homes in Fairlawn, OH cost?
Median Sold Price
$273,800
$137/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Key Takeaway
Homes in Fairlawn have sold for 4.6% less than they did a year ago.
Summary: The median home sold price in Fairlawn was $273,800 in May 2024, down 4.6% from last year, and the median price per square foot was $137.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $109.2K | - | N/A |
| 2 Bedrooms | $175K | $191.5K | +9.4% |
| 3 Bedrooms | $275K | $268K | -2.5% |
| 4 Bedrooms | $374K | $402.5K | +7.6% |
| 5+ Bedrooms | $400K | $810K | +102.5% |
Summary: Fairlawn housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes increased by 9.4%, 3 bedroom homes decreased by 2.5%, 4 bedroom homes increased by 7.6%, and 5+ bedroom homes increased by 102.5%.
Median Sold Price Compared To Nearby Cities
| Copley Township | $281.8K | $321K | +13.9% |
| Akron | $125.8K | $132.7K | +5.5% |
| Bath Township | $475.2K | $489.9K | +3.1% |
| Fairlawn | $287.1K | $273.8K | -4.6% |
Housing Supply in Fairlawn, OH
How many homes are available in Fairlawn, OH?
Number of Homes For Sale
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 27 | 28 | +3.7% |
Summary: The Fairlawn real estate market had 28 homes for sale in May 2024, a 3.7% increase compared to April 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 0 | 0 | 0.0% |
| 2 Bedrooms | 8 | 6 | -25.0% |
| 3 Bedrooms | 12 | 12 | 0.0% |
| 4 Bedrooms | 6 | 8 | +33.3% |
| 5+ Bedrooms | 1 | 2 | +100.0% |
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 decreased by 25%, 3 bedroom homes remained the same, 4 bedroom homes increased by 33.3%, and 5+ bedroom homes increased by 100%.
Number of Homes Sold
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 8 | 9 | +12.5% |
Asking Price vs. Sold Price
6 Homes Were Sold
Under Asking
1 Home Was Sold
At Asking
2 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Fairlawn, you may be able to get a good deal. 66.7% of homes here sold below asking price last month.
Summary: A total of 9 homes were sold or pending in Fairlawn in May 2024, up by 12.5% month-over-month. Of the 9 sold homes, 67% were sold under asking, 11% were sold at asking, and 22% were sold over asking.
Days on Market for Fairlawn, OH
How long does it take to sell a home in Fairlawn, OH?
Average Sale Time
| May 2023 | May 2024 | CHANGE |
|---|---|---|
| 34 Days | 33 Days | -4.7% |
Summary: Homes in Fairlawn had an average of 33 days on market in May 2024, down by 4.7% compared to last year.
Breakdown of Home Sale Times
6 Homes Were Sold
Under 30 Days
2 Homes Were Sold
In 30 - 90 Days
1 Home Was Sold
Over 90 Days
Key Takeaway
Many homes in Fairlawn are selling fast, if you're buying plan to act quickly.
Summary: During May 2024, 9 homes were sold in Fairlawn; 67% of homes were sold within 30 days, 22% of homes were sold within 30 to 90 days, and 11% of homes were sold over 90 days.
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