$7,125 Closing Credit*
$599,975
3,588 SqFt
4 Beds
•3 Full Baths, 1 Partial
Tammy Perkins-Mack, Listing Office: RESCOM, REALTORS
Is Fairwood, MD a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since September 2023
Since last year, Fairwood has remained a Seller's Market.
Key Takeaway
Fairwood is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Fairwood, MD
How much do homes in Fairwood, MD cost?
Median Sold Price
$615,000
$184/sqft
Based on all homes sold in the last 12 months.
Difference Since September 2023
-$75,000(-10.9%)
Key Takeaway
Homes in Fairwood have sold for 10.9% less than they did a year ago.
Summary: The median home sold price in Fairwood was $615,000 in September 2024, down 10.9% from last year, and the median price per square foot was $184.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Sep 2023 | Sep 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | - | N/A |
| 2 Bedrooms | - | $325K | N/A |
| 3 Bedrooms | $536.2K | $499.9K | -6.8% |
| 4 Bedrooms | $728.9K | $725K | -0.5% |
| 5+ Bedrooms | $849K | $810K | -4.6% |
Summary: Fairwood housing prices by bedroom type for September 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 decreased by 6.8%, 4 bedroom homes decreased by 0.5%, and 5+ bedroom homes decreased by 4.6%.
Housing Supply in Fairwood, MD
How many homes are available in Fairwood, MD?
Number of Homes For Sale
| Aug 2024 | Sep 2024 | CHANGE |
|---|---|---|
| 26 | 29 | +11.5% |
Summary: The Fairwood real estate market had 29 homes for sale in September 2024, a 11.5% increase compared to August 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Aug 2024 | Sep 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 3 | 4 | +33.3% |
| 2 Bedrooms | 0 | 2 | +100.0% |
| 3 Bedrooms | 7 | 7 | 0.0% |
| 4 Bedrooms | 7 | 6 | -14.3% |
| 5+ Bedrooms | 9 | 10 | +11.1% |
Summary: The Fairwood housing inventory by bedroom type for September 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 33.3%, 2 bedroom homes increased by 100%, 3 bedroom homes remained the same, 4 bedroom homes decreased by 14.3%, and 5+ bedroom homes increased by 11.1%.
Number of Homes Sold
| Aug 2024 | Sep 2024 | CHANGE |
|---|---|---|
| 8 | 6 | -25.0% |
Asking Price vs. Sold Price
1 Home Was Sold
Under Asking
1 Home Was Sold
At Asking
4 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Fairwood, you could pay more than the asking price. 66.7% of homes here sold above asking price last month.
Summary: A total of 6 homes were sold or pending in Fairwood in September 2024, down by 25.0% month-over-month. Of the 6 sold homes, 17% were sold under asking, 17% were sold at asking, and 67% 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
| Sep 2023 | Sep 2024 | CHANGE |
|---|---|---|
| 25 Days | 26 Days | +3.2% |
Summary: Homes in Fairwood had an average of 26 days on market in Sep 2024, up by 3.2% compared to last year.
Breakdown of Home Sale Times
4 Homes Were Sold
Under 30 Days
2 Homes Were 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 September 2024, 6 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.
