$4,441 Closing Credit*
$374,000
1,258 SqFt
Nicola C Taylor, Listing Office: EXP Realty, LLC
Is Fairlawn, DC a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since November 2023
At the same time last year, Fairlawn was a Seller's Market.
Key Takeaway
Fairlawn is a Buyers Housing Market, which means prices tend to be lower and homes stay on the market longer.
Housing Prices in Fairlawn, DC
How much do homes in Fairlawn, DC cost?
Median Sold Price
$380,000
$267/sqft
Based on all homes sold in the last 12 months.
Difference Since November 2023
-$20,000(-5.0%)
Key Takeaway
Homes in Fairlawn have sold for 5% less than they did a year ago.
Summary: The median home sold price in Fairlawn was $380,000 in November 2024, down 5% from last year, and the median price per square foot was $267.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Nov 2023 | Nov 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | $262.5K | N/A |
| 2 Bedrooms | $403.9K | $287.2K | -28.9% |
| 3 Bedrooms | $367.5K | $380K | +3.4% |
| 4 Bedrooms | $520K | $540.5K | +3.9% |
| 5+ Bedrooms | $575K | - | N/A |
Summary: Fairlawn housing prices by bedroom type for November 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes decreased by 28.9%, 3 bedroom homes increased by 3.4%, 4 bedroom homes increased by 3.9%, and 5+ bedroom homes did not change.
Median Sold Price Compared To Nearby Neighborhoods
| Southeast | $461.1K | $506K | +9.7% |
| Fairlawn | $400K | $380K | -5.0% |
Housing Supply in Fairlawn, DC
How many homes are available in Fairlawn, DC?
Number of Homes For Sale
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 51 | 56 | +9.8% |
Summary: The Fairlawn real estate market had 56 homes for sale in November 2024, a 9.8% increase compared to October 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 5 | 3 | -40.0% |
| 2 Bedrooms | 14 | 17 | +21.4% |
| 3 Bedrooms | 20 | 22 | +10.0% |
| 4 Bedrooms | 12 | 13 | +8.3% |
| 5+ Bedrooms | 0 | 1 | +100.0% |
Summary: The Fairlawn housing inventory by bedroom type for November 2024 compared to the previous month: The inventory of 1 bedroom homes decreased by 40%, 2 bedroom homes increased by 21.4%, 3 bedroom homes increased by 10%, 4 bedroom homes increased by 8.3%, and 5+ bedroom homes increased by 100%.
Number of Homes Sold
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 7 | 5 | -28.6% |
Asking Price vs. Sold Price
1 Home Was Sold
Under Asking
1 Home Was Sold
At Asking
3 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Fairlawn, you could pay more than the asking price. 60% of homes here sold above asking price last month.
Summary: A total of 5 homes were sold or pending in Fairlawn in November 2024, down by 28.6% month-over-month. Of the 5 sold homes, 20% were sold under asking, 20% were sold at asking, and 60% were sold over asking.
Days on Market for Fairlawn, DC
How long does it take to sell a home in Fairlawn, DC?
Average Sale Time
| Nov 2023 | Nov 2024 | CHANGE |
|---|---|---|
| 14 Days | 96 Days | +585.7% |
Summary: Homes in Fairlawn had an average of 96 days on market in Nov 2024, up by 585.7% compared to last year.
Breakdown of Home Sale Times
1 Home Was Sold
Under 30 Days
1 Home Was Sold
In 30 - 90 Days
3 Homes Were Sold
Over 90 Days
Key Takeaway
Most homes in Fairlawn are taking a long time to sell, it's a good idea to negotiate on homes here.
Summary: During November 2024, 5 homes were sold in Fairlawn; 20% of homes were sold within 30 days, 20% of homes were sold within 30 to 90 days, and 60% of homes were sold over 90 days.
