Is Fairfax, CA a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Fairfax is a buyer's market

Buyer's
Market

Difference Since October 2023

At the same time last year, Fairfax was a Seller's Market.

Key Takeaway

Fairfax is a Buyers Housing Market, which means prices tend to be lower and homes stay on the market longer.

Housing Prices in Fairfax, CA

How much do homes in Fairfax, CA cost?

Median Sold Price

$1,865,000

$829/sqft

Based on all homes sold in the last 12 months.

Difference Since October 2023

-$60,000(-3.1%)

Key Takeaway

Homes in Fairfax have sold for 3.1% less than they did a year ago.

Summary: The median home sold price in Fairfax was $1,865,000 in October 2024, down 3.1% from last year, and the median price per square foot was $829.

Median Sold Price By Bedroom Count

# BEDSOct 2023Oct 2024CHANGE
1 $552.5K$510K
-7.7%
2 $1.3M$1.3M
-0.4%
3 $1.6M$1.7M
+5.7%
4 $2.1M$1.8M
-14.9%
5+ $2.5M$3.0M
+19.9%

Summary: Fairfax housing prices by bedroom type for October 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 7.7%, 2 bedroom homes decreased by 0.4%, 3 bedroom homes increased by 5.7%, 4 bedroom homes decreased by 14.9%, and 5+ bedroom homes increased by 19.9%.

Median Sold Price Compared To Nearby Neighborhoods

Hancock Park
+8.9%
Eastside West Hollywood
+3.4%
Center City
+2.0%
Fairfax
-3.1%

Housing Supply in Fairfax, CA

How many homes are available in Fairfax, CA?

Number of Homes For Sale

Sep 2024Oct 2024CHANGE
4051+27.5%

Summary: The Fairfax real estate market had 51 homes for sale in October 2024, a 27.5% increase compared to September 2024.

Homes For Sale By Bedroom Count

# BEDSSep 2024Oct 2024CHANGE
1 10
-100.0%
2 24
+100.0%
3 510
+100.0%
4 1317
+30.8%
5+ 1920
+5.3%

Summary: The Fairfax housing inventory by bedroom type for October 2024 compared to the previous month: The inventory of 1 bedroom homes decreased by 100%, 2 bedroom homes increased by 100%, 3 bedroom homes increased by 100%, 4 bedroom homes increased by 30.8%, and 5+ bedroom homes increased by 5.3%.

Number of Homes Sold

Sep 2024Oct 2024CHANGE
550.0%

Asking Price vs. Sold Price

5 Homes Were Sold
Under Asking

0 Homes Were Sold
At Asking

0 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Fairfax, you may be able to get a good deal. 100% of homes here sold below asking price last month.

Summary: A total of 5 homes were sold or pending in Fairfax in October 2024, the same as the previous month. Of the 5 sold homes, 100% were sold under asking, 0% were sold at asking, and 0% were sold over asking.

Days on Market for Fairfax, CA

How long does it take to sell a home in Fairfax, CA?

Average Sale Time

Oct 2023Oct 2024CHANGE
52 Days74 Days+42.5%

Summary: Homes in Fairfax had an average of 74 days on market in Oct 2024, up by 42.5% compared to last year.

Breakdown of Home Sale Times

2 Homes Were Sold
Under 30 Days

1 Home Was Sold
In 30 - 90 Days

2 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

Many homes in Fairfax are selling fast, if you're buying plan to act quickly.

Summary: During October 2024, 5 homes were sold in Fairfax; 40% of homes were sold within 30 days, 20% of homes were sold within 30 to 90 days, and 40% of homes were sold over 90 days.

Housing Market Reports are calculated by Rocket Homes Real Estate and based on information from the MLS.

Report Updated 21 Days Ago

Newest Listings in Fairfax, CA

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