$4,209 Closing Credit*
$354,400
1,320 SqFt
3 Beds
•2 Full Baths
Mary Anne Long, Listing Office: Keller Williams Realty Centre
Is Fairwood, MD a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since December 2023
At the same time last year, Fairwood was a Seller's Market.
Key Takeaway
Fairwood is a Neutral Housing Market, which means prices tend to be reasonable and homes stay on the market for a typical length of time.
Housing Prices in Fairwood, MD
How much do homes in Fairwood, MD cost?
Median Sold Price
$700,000
$197/sqft
Based on all homes sold in the last 12 months.
Difference Since December 2023
+$50,010(+7.7%)
Key Takeaway
Homes in Fairwood have sold for 7.7% more than they did a year ago.
Summary: The median home sold price in Fairwood was $700,000 in December 2024, up 7.7% from last year, and the median price per square foot was $197.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Dec 2023 | Dec 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | - | N/A |
| 2 Bedrooms | - | $325K | N/A |
| 3 Bedrooms | $514.9K | $520K | +1.0% |
| 4 Bedrooms | $728.9K | $720K | -1.2% |
| 5+ Bedrooms | $815K | $850K | +4.3% |
Summary: Fairwood housing prices by bedroom type for December 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes did not change, 3 bedroom homes increased by 1%, 4 bedroom homes decreased by 1.2%, and 5+ bedroom homes increased by 4.3%.
Housing Supply in Fairwood, MD
How many homes are available in Fairwood, MD?
Number of Homes For Sale
| Nov 2024 | Dec 2024 | CHANGE |
|---|---|---|
| 23 | 20 | -13.0% |
Summary: The Fairwood real estate market had 20 homes for sale in December 2024, a 13.0% decrease compared to November 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Nov 2024 | Dec 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 4 | 3 | -25.0% |
| 2 Bedrooms | 2 | 1 | -50.0% |
| 3 Bedrooms | 7 | 9 | +28.6% |
| 4 Bedrooms | 6 | 6 | 0.0% |
| 5+ Bedrooms | 4 | 1 | -75.0% |
Summary: The Fairwood housing inventory by bedroom type for December 2024 compared to the previous month: The inventory of 1 bedroom homes decreased by 25%, 2 bedroom homes decreased by 50%, 3 bedroom homes increased by 28.6%, 4 bedroom homes remained the same, and 5+ bedroom homes decreased by 75%.
Number of Homes Sold
| Nov 2024 | Dec 2024 | CHANGE |
|---|---|---|
| 4 | 3 | -25.0% |
Asking Price vs. Sold Price
1 Home Was Sold
Under Asking
2 Homes Were Sold
At Asking
0 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Fairwood, expect to pay close to the asking price. 66.7% of homes here sold near the asking price last month.
Summary: A total of 3 homes were sold or pending in Fairwood in December 2024, down by 25.0% month-over-month. Of the 3 sold homes, 33% were sold under asking, 67% were sold at asking, and 0% were sold over asking.
Days on Market for Fairwood, MD
How long does it take to sell a home in Fairwood, MD?
Average Sale Time
| Dec 2023 | Dec 2024 | CHANGE |
|---|---|---|
| 25 Days | 28 Days | +10.2% |
Summary: Homes in Fairwood had an average of 28 days on market in Dec 2024, up by 10.2% compared to last year.
Breakdown of Home Sale Times
2 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 Fairwood are selling fast, if you're buying plan to act quickly.
Summary: During December 2024, 3 homes were sold in Fairwood; 67% of homes were sold within 30 days, 33% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.
