$6,709 Closing Credit*
$565,000
1,810 SqFt
3 Beds
•2 Full Baths
Jennifer D Tilghman, Listing Office: Keller Williams Preferred Properties
Is Fairlawn, DC a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since October 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
$273/sqft
Based on all homes sold in the last 12 months.
Difference Since October 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 October 2024, down 5% from last year, and the median price per square foot was $273.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | $247.5K | N/A |
| 2 Bedrooms | $403.9K | $319.9K | -20.8% |
| 3 Bedrooms | $365K | $380K | +4.1% |
| 4 Bedrooms | $480K | $554.5K | +15.5% |
| 5+ Bedrooms | $525K | $575K | +9.5% |
Summary: Fairlawn housing prices by bedroom type for October 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes decreased by 20.8%, 3 bedroom homes increased by 4.1%, 4 bedroom homes increased by 15.5%, and 5+ bedroom homes increased by 9.5%.
Median Sold Price Compared To Nearby Neighborhoods
| Southeast | $459.7K | $499.9K | +8.8% |
| Fairlawn | $400K | $380K | -5.0% |
Housing Supply in Fairlawn, DC
How many homes are available in Fairlawn, DC?
Number of Homes For Sale
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 44 | 52 | +18.2% |
Summary: The Fairlawn real estate market had 52 homes for sale in October 2024, a 18.2% increase compared to September 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 5 | 4 | -20.0% |
| 2 Bedrooms | 11 | 14 | +27.3% |
| 3 Bedrooms | 17 | 20 | +17.6% |
| 4 Bedrooms | 11 | 14 | +27.3% |
| 5+ Bedrooms | 0 | 0 | 0.0% |
Summary: The Fairlawn housing inventory by bedroom type for October 2024 compared to the previous month: The inventory of 1 bedroom homes decreased by 20%, 2 bedroom homes increased by 27.3%, 3 bedroom homes increased by 17.6%, 4 bedroom homes increased by 27.3%, and 5+ bedroom homes remained the same.
Number of Homes Sold
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 4 | 5 | +25.0% |
Asking Price vs. Sold Price
3 Homes Were Sold
Under Asking
1 Home Was Sold
At Asking
1 Home Was Sold
Over Asking
Key Takeaway
If you're buying a home in Fairlawn, you may be able to get a good deal. 60% of homes here sold below asking price last month.
Summary: A total of 5 homes were sold or pending in Fairlawn in October 2024, up by 25.0% month-over-month. Of the 5 sold homes, 60% were sold under asking, 20% were sold at asking, and 20% 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
| Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|
| 24 Days | 50 Days | +107.4% |
Summary: Homes in Fairlawn had an average of 50 days on market in Oct 2024, up by 107.4% compared to last year.
Breakdown of Home Sale Times
3 Homes Were Sold
Under 30 Days
1 Home Was 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 October 2024, 5 homes were sold in Fairlawn; 60% of homes were sold within 30 days, 20% of homes were sold within 30 to 90 days, and 20% of homes were sold over 90 days.
