$475 Closing Credit*
$40,000
BLAIR EASTMAN, Listing Office: EXP REALTY LLC
Is Fairmont, NC 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, Fairmont was a Seller's Market.
Key Takeaway
Fairmont is a Buyers Housing Market, which means prices tend to be lower and homes stay on the market longer.
Housing Prices in Fairmont, NC
How much do homes in Fairmont, NC cost?
Median Sold Price
$155,000
$105/sqft
Based on all homes sold in the last 12 months.
Difference Since October 2023
+$18,500(+13.6%)
Key Takeaway
Homes in Fairmont have sold for 13.6% more than they did a year ago.
Summary: The median home sold price in Fairmont was $155,000 in October 2024, up 13.6% from last year, and the median price per square foot was $105.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | - | N/A |
| 2 Bedrooms | $95K | $148K | +55.8% |
| 3 Bedrooms | $165K | $150K | -9.1% |
| 4 Bedrooms | $80K | $223K | +178.8% |
| 5+ Bedrooms | $180K | - | N/A |
Summary: Fairmont 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 increased by 55.8%, 3 bedroom homes decreased by 9.1%, 4 bedroom homes increased by 178.8%, and 5+ bedroom homes did not change.
Median Sold Price Compared To Nearby Cities
| Fairmont | $136.5K | $155K | +13.6% |
| Fairmont Township | $136.5K | $155K | +13.6% |
Housing Supply in Fairmont, NC
How many homes are available in Fairmont, NC?
Number of Homes For Sale
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 12 | 11 | -8.3% |
Summary: The Fairmont real estate market had 11 homes for sale in October 2024, a 8.3% decrease compared to September 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 0 | 0 | 0.0% |
| 2 Bedrooms | 1 | 2 | +100.0% |
| 3 Bedrooms | 6 | 5 | -16.7% |
| 4 Bedrooms | 2 | 0 | -100.0% |
| 5+ Bedrooms | 3 | 4 | +33.3% |
Summary: The Fairmont 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 increased by 100%, 3 bedroom homes decreased by 16.7%, 4 bedroom homes decreased by 100%, and 5+ bedroom homes increased by 33.3%.
Number of Homes Sold
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 2 | 1 | -50.0% |
Asking Price vs. Sold Price
1 Home Was Sold
Under Asking
0 Homes Were Sold
At Asking
0 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Fairmont, you may be able to get a good deal. 100% of homes here sold below asking price last month.
Summary: A total of 1 homes were sold or pending in Fairmont in October 2024, down by 50.0% month-over-month. Of the 1 sold homes, 100% were sold under asking, 0% were sold at asking, and 0% were sold over asking.
Days on Market for Fairmont, NC
How long does it take to sell a home in Fairmont, NC?
Average Sale Time
| Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|
| 66 Days | 82 Days | +23.3% |
Summary: Homes in Fairmont had an average of 82 days on market in Oct 2024, up by 23.3% compared to last year.
Breakdown of Home Sale Times
0 Homes Were Sold
Under 30 Days
1 Home Was Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Key Takeaway
Avg time on Rocket Homes in Fairmont has remained consistent over time.
Summary: During October 2024, 1 homes were sold in Fairmont; 0% of homes were sold within 30 days, 100% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.
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