$9,738 Closing Credit*
$820,000
3,106 SqFt
4 Beds
•4 Full Baths, 1 Partial
Errin N Smith, Listing Office: RE/MAX 100
Is Fairwood, MD 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, 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
$645,000
$184/sqft
Based on all homes sold in the last 12 months.
Difference Since October 2023
-$45,000(-6.5%)
Key Takeaway
Homes in Fairwood have sold for 6.5% less than they did a year ago.
Summary: The median home sold price in Fairwood was $645,000 in October 2024, down 6.5% from last year, and the median price per square foot was $184.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | - | N/A |
| 2 Bedrooms | - | $325K | N/A |
| 3 Bedrooms | $536.2K | $494.9K | -7.7% |
| 4 Bedrooms | $729.4K | $715K | -2.0% |
| 5+ Bedrooms | $850K | $806K | -5.2% |
Summary: Fairwood 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 did not change, 3 bedroom homes decreased by 7.7%, 4 bedroom homes decreased by 2%, and 5+ bedroom homes decreased by 5.2%.
Housing Supply in Fairwood, MD
How many homes are available in Fairwood, MD?
Number of Homes For Sale
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 23 | 20 | -13.0% |
Summary: The Fairwood real estate market had 20 homes for sale in October 2024, a 13.0% decrease compared to September 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 4 | 4 | 0.0% |
| 2 Bedrooms | 2 | 2 | 0.0% |
| 3 Bedrooms | 5 | 6 | +20.0% |
| 4 Bedrooms | 5 | 4 | -20.0% |
| 5+ Bedrooms | 7 | 4 | -42.9% |
Summary: The Fairwood 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 20%, 4 bedroom homes decreased by 20%, and 5+ bedroom homes decreased by 42.9%.
Number of Homes Sold
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 8 | 3 | -62.5% |
Asking Price vs. Sold Price
0 Homes Were Sold
Under Asking
0 Homes Were Sold
At Asking
3 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Fairwood, you could pay more than the asking price. 100% of homes here sold above asking price last month.
Summary: A total of 3 homes were sold or pending in Fairwood in October 2024, down by 62.5% month-over-month. Of the 3 sold homes, 0% were sold under asking, 0% were sold at asking, and 100% 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
| Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|
| 54 Days | 60 Days | +9.7% |
Summary: Homes in Fairwood had an average of 60 days on market in Oct 2024, up by 9.7% compared to last year.
Breakdown of Home Sale Times
1 Home Was Sold
Under 30 Days
2 Homes Were Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Key Takeaway
Avg time on Rocket Homes in Fairwood has remained consistent over time.
Summary: During October 2024, 3 homes were sold in Fairwood; 33% of homes were sold within 30 days, 67% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.
