$9,227 Closing Credit*
$777,000
4 Beds
•2 Full Baths, 1 Partial
Kim A. Leonelli, Listing Office: Coldwell Banker, Alpine/Closter
Is Fair Lawn, NJ a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since October 2023
Since last year, Fair Lawn has remained a Seller's Market.
Key Takeaway
Fair Lawn is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Fair Lawn, NJ
How much do homes in Fair Lawn, NJ cost?
Median Sold Price
$622,500
$404/sqft
Based on all homes sold in the last 12 months.
Difference Since October 2023
+$45,000(+7.8%)
Key Takeaway
Homes in Fair Lawn have sold for 7.8% more than they did a year ago.
Summary: The median home sold price in Fair Lawn was $622,500 in October 2024, up 7.8% from last year, and the median price per square foot was $404.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | - | N/A |
| 2 Bedrooms | $400K | $389K | -2.8% |
| 3 Bedrooms | $538K | $620K | +15.2% |
| 4 Bedrooms | $602.5K | $670K | +11.2% |
| 5+ Bedrooms | $892.5K | $925K | +3.6% |
Summary: Fair Lawn 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 decreased by 2.8%, 3 bedroom homes increased by 15.2%, 4 bedroom homes increased by 11.2%, and 5+ bedroom homes increased by 3.6%.
Median Sold Price Compared To Nearby Cities
| Elmwood Park | $470.5K | $530K | +12.6% |
| Hawthorne | $490K | $545K | +11.2% |
| Fair Lawn | $577.5K | $622.5K | +7.8% |
| Glen Rock | $875K | $902K | +3.1% |
Housing Supply in Fair Lawn, NJ
How many homes are available in Fair Lawn, NJ?
Number of Homes For Sale
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 45 | 61 | +35.6% |
Summary: The Fair Lawn real estate market had 61 homes for sale in October 2024, a 35.6% increase compared to September 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 0 | 1 | +100.0% |
| 2 Bedrooms | 2 | 6 | +200.0% |
| 3 Bedrooms | 26 | 24 | -7.7% |
| 4 Bedrooms | 11 | 19 | +72.7% |
| 5+ Bedrooms | 6 | 11 | +83.3% |
Summary: The Fair Lawn housing inventory by bedroom type for October 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 100%, 2 bedroom homes increased by 200%, 3 bedroom homes decreased by 7.7%, 4 bedroom homes increased by 72.7%, and 5+ bedroom homes increased by 83.3%.
Number of Homes Sold
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 9 | 12 | +33.3% |
Asking Price vs. Sold Price
4 Homes Were Sold
Under Asking
1 Home Was 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. 58.3% of homes here sold above asking price last month.
Summary: A total of 12 homes were sold or pending in Fair Lawn in October 2024, up by 33.3% month-over-month. Of the 12 sold homes, 33% were sold under asking, 8% were sold at asking, and 58% were sold over asking.
Days on Market for Fair Lawn, NJ
How long does it take to sell a home in Fair Lawn, NJ?
Breakdown of Home Sale Times
1 Home Was Sold
Under 30 Days
0 Homes Were Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Fair Lawn are selling fast, if you're buying plan to act quickly.
Summary: During October 2024, 12 homes were sold in Fair Lawn; 8% of homes were sold within 30 days, 0% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.
