$4,156 Closing Credit*
$350,000
1,840 SqFt
2 Beds
•2 Full Baths, 2 Partial
Bridgette M Ruttkay, Listing Office: RE/MAX Realty Services
Is Fairland, MD a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since October 2023
Since last year, Fairland has remained a Seller's Market.
Key Takeaway
Fairland is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Fairland, MD
How much do homes in Fairland, MD cost?
Median Sold Price
$417,000
$249/sqft
Based on all homes sold in the last 12 months.
Difference Since October 2023
+$12,000(+3.0%)
Key Takeaway
Homes in Fairland have sold for 3% more than they did a year ago.
Summary: The median home sold price in Fairland was $417,000 in October 2024, up 3% from last year, and the median price per square foot was $249.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $205K | $235K | +14.6% |
| 2 Bedrooms | $290K | $305.5K | +5.3% |
| 3 Bedrooms | $405K | $418.5K | +3.3% |
| 4 Bedrooms | $651.5K | $675K | +3.6% |
| 5+ Bedrooms | $699K | $775K | +10.9% |
Summary: Fairland housing prices by bedroom type for October 2024 compared to the previous year: The home price of 1 bedroom homes increased by 14.6%, 2 bedroom homes increased by 5.3%, 3 bedroom homes increased by 3.3%, 4 bedroom homes increased by 3.6%, and 5+ bedroom homes increased by 10.9%.
Housing Supply in Fairland, MD
How many homes are available in Fairland, MD?
Number of Homes For Sale
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 27 | 35 | +29.6% |
Summary: The Fairland real estate market had 35 homes for sale in October 2024, a 29.6% increase compared to September 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 1 | 1 | 0.0% |
| 2 Bedrooms | 7 | 7 | 0.0% |
| 3 Bedrooms | 11 | 14 | +27.3% |
| 4 Bedrooms | 6 | 7 | +16.7% |
| 5+ Bedrooms | 2 | 6 | +200.0% |
Summary: The Fairland housing inventory by bedroom type for October 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes remained the same, 3 bedroom homes increased by 27.3%, 4 bedroom homes increased by 16.7%, and 5+ bedroom homes increased by 200%.
Number of Homes Sold
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 4 | 12 | +200.0% |
Asking Price vs. Sold Price
1 Home Was Sold
Under Asking
4 Homes Were Sold
At Asking
7 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Fairland, you could pay more than the asking price. 58.3% of homes here sold above asking price last month.
Summary: A total of 12 homes were sold or pending in Fairland in October 2024, up by 200.0% month-over-month. Of the 12 sold homes, 8% were sold under asking, 33% were sold at asking, and 58% were sold over asking.
Days on Market for Fairland, MD
How long does it take to sell a home in Fairland, MD?
Average Sale Time
| Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|
| 18 Days | 13 Days | -26.9% |
Summary: Homes in Fairland had an average of 13 days on market in Oct 2024, down by 26.9% compared to last year.
Breakdown of Home Sale Times
11 Homes Were Sold
Under 30 Days
1 Home Was Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Fairland are selling fast, if you're buying plan to act quickly.
Summary: During October 2024, 12 homes were sold in Fairland; 92% of homes were sold within 30 days, 8% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.
