Is Fairmont, NC a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since April 2023
Since last year, Fairmont has remained a Seller's Market.
Key Takeaway
Fairmont is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Fairmont, NC
How much do homes in Fairmont, NC cost?
Median Sold Price
$165,000
$123/sqft
Based on all homes sold in the last 12 months.
Difference Since April 2023
Key Takeaway
Homes in Fairmont have sold for 57.1% more than they did a year ago.
Summary: The median home sold price in Fairmont was $165,000 in April 2024, up 57.1% from last year, and the median price per square foot was $123.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | - | N/A |
| 2 Bedrooms | $95K | $100K | +5.3% |
| 3 Bedrooms | $150K | $187K | +24.7% |
| 4 Bedrooms | $100K | $160K | +60.0% |
| 5+ Bedrooms | - | $180K | N/A |
Summary: Fairmont housing prices by bedroom type for April 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes increased by 5.3%, 3 bedroom homes increased by 24.7%, 4 bedroom homes increased by 60%, and 5+ bedroom homes did not change.
Median Sold Price Compared To Nearby Cities
| Fairmont | $105K | $165K | +57.1% |
| Fairmont Township | $105K | $165K | +57.1% |
Housing Supply in Fairmont, NC
How many homes are available in Fairmont, NC?
Number of Homes For Sale
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 20 | 18 | -10.0% |
Summary: The Fairmont real estate market had 18 homes for sale in April 2024, a 10.0% decrease compared to March 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 0 | 0 | 0.0% |
| 2 Bedrooms | 3 | 2 | -33.3% |
| 3 Bedrooms | 10 | 10 | 0.0% |
| 4 Bedrooms | 6 | 5 | -16.7% |
| 5+ Bedrooms | 1 | 1 | 0.0% |
Summary: The Fairmont housing inventory by bedroom type for April 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes decreased by 33.3%, 3 bedroom homes remained the same, 4 bedroom homes decreased by 16.7%, and 5+ bedroom homes remained the same.
Number of Homes Sold
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 1 | 4 | +300.0% |
Asking Price vs. Sold Price
1 Home Was Sold
Under Asking
0 Homes Were Sold
At Asking
3 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Fairmont, you could pay more than the asking price. 75% of homes here sold above asking price last month.
Summary: A total of 4 homes were sold or pending in Fairmont in April 2024, up by 300.0% month-over-month. Of the 4 sold homes, 25% were sold under asking, 0% were sold at asking, and 75% 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
| Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|
| 53 Days | 79 Days | +48.4% |
Summary: Homes in Fairmont had an average of 79 days on market in Apr 2024, up by 48.4% compared to last year.
Breakdown of Home Sale Times
1 Home Was Sold
Under 30 Days
1 Home Was Sold
In 30 - 90 Days
2 Homes Were Sold
Over 90 Days
Key Takeaway
Most homes in Fairmont are taking a long time to sell, it's a good idea to negotiate on homes here.
Summary: During April 2024, 4 homes were sold in Fairmont; 25% of homes were sold within 30 days, 25% of homes were sold within 30 to 90 days, and 50% of homes were sold over 90 days.
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The data relating to real estate for sale on this web site comes in part from the Longleaf Pine REALTORS®, Inc. All information deemed reliable but not guaranteed and should be independently verified. All properties are subject to prior sale, change or withdrawl. Neither listing broker(s) nor Longleaf Pine REALTORS®, Inc. shall be held responsible for typographical errors, misinformation, misprints and shall be held totally harmless. Copyright 2024 Longleaf Pine REALTORS®, Inc. All rights reserved.