$8,894 Closing Credit*
$749,000
3 Beds
•1 Full Bath, 2 Partial
Listing Office: CORCORAN SAWYER SMITH
Is Fair Lawn, NJ a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since August 2023
At the same time last year, Fair Lawn was a Seller's Market.
Key Takeaway
Fair Lawn 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 Fair Lawn, NJ
How much do homes in Fair Lawn, NJ cost?
Median Sold Price
$613,000
$404/sqft
Based on all homes sold in the last 12 months.
Difference Since August 2023
+$45,500(+8.0%)
Key Takeaway
Homes in Fair Lawn have sold for 8% more than they did a year ago.
Summary: The median home sold price in Fair Lawn was $613,000 in August 2024, up 8% from last year, and the median price per square foot was $404.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Aug 2023 | Aug 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $242.5K | - | N/A |
| 2 Bedrooms | $400K | $468K | +17.0% |
| 3 Bedrooms | $531.5K | $555K | +4.4% |
| 4 Bedrooms | $589K | $715K | +21.4% |
| 5+ Bedrooms | $845K | $930K | +10.1% |
Summary: Fair Lawn housing prices by bedroom type for August 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes increased by 17%, 3 bedroom homes increased by 4.4%, 4 bedroom homes increased by 21.4%, and 5+ bedroom homes increased by 10.1%.
Median Sold Price Compared To Nearby Cities
| Elmwood Park | $466K | $530K | +13.7% |
| Hawthorne | $475K | $540K | +13.7% |
| Fair Lawn | $567.5K | $613K | +8.0% |
| Glen Rock | $860K | $926K | +7.7% |
Housing Supply in Fair Lawn, NJ
How many homes are available in Fair Lawn, NJ?
Number of Homes For Sale
| Jul 2024 | Aug 2024 | CHANGE |
|---|---|---|
| 39 | 55 | +41.0% |
Summary: The Fair Lawn real estate market had 55 homes for sale in August 2024, a 41.0% increase compared to July 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Jul 2024 | Aug 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 0 | 0 | 0.0% |
| 2 Bedrooms | 4 | 3 | -25.0% |
| 3 Bedrooms | 17 | 27 | +58.8% |
| 4 Bedrooms | 16 | 21 | +31.3% |
| 5+ Bedrooms | 2 | 4 | +100.0% |
Summary: The Fair Lawn housing inventory by bedroom type for August 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes decreased by 25%, 3 bedroom homes increased by 58.8%, 4 bedroom homes increased by 31.3%, and 5+ bedroom homes increased by 100%.
Number of Homes Sold
| Jul 2024 | Aug 2024 | CHANGE |
|---|---|---|
| 7 | 9 | +28.6% |
Asking Price vs. Sold Price
0 Homes Were Sold
Under Asking
2 Homes Were Sold
At Asking
7 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Fair Lawn, you could pay more than the asking price. 77.8% of homes here sold above asking price last month.
Summary: A total of 9 homes were sold or pending in Fair Lawn in August 2024, up by 28.6% month-over-month. Of the 9 sold homes, 0% were sold under asking, 22% were sold at asking, and 78% were sold over asking.
Days on Market for Fair Lawn, NJ
We’re sorry, we don't have information for this market at the moment
