Is Fairview Park, OH a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since May 2023
Since last year, Fairview Park has remained a Seller's Market.
Key Takeaway
Fairview Park is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Fairview Park, OH
How much do homes in Fairview Park, OH cost?
Median Sold Price
$258,000
$142/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Key Takeaway
Homes in Fairview Park have sold for 3.8% more than they did a year ago.
Summary: The median home sold price in Fairview Park was $258,000 in May 2024, up 3.8% from last year, and the median price per square foot was $142.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $162.2K | $75K | -53.8% |
| 2 Bedrooms | $166K | $175K | +5.4% |
| 3 Bedrooms | $253K | $265K | +4.7% |
| 4 Bedrooms | $310K | $325K | +4.8% |
| 5+ Bedrooms | $419K | $350K | -16.5% |
Summary: Fairview Park housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 53.8%, 2 bedroom homes increased by 5.4%, 3 bedroom homes increased by 4.7%, 4 bedroom homes increased by 4.8%, and 5+ bedroom homes decreased by 16.5%.
Median Sold Price Compared To Nearby Cities
| Brook Park | $185K | $210K | +13.5% |
| Brookpark | $185K | $210K | +13.5% |
| Rocky River | $320K | $360K | +12.5% |
| North Olmsted | $225.6K | $249.9K | +10.8% |
| Fairview Park | $248.5K | $258K | +3.8% |
Housing Supply in Fairview Park, OH
How many homes are available in Fairview Park, OH?
Number of Homes For Sale
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 49 | 55 | +12.2% |
Summary: The Fairview Park real estate market had 55 homes for sale in May 2024, a 12.2% increase compared to April 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 2 | 2 | 0.0% |
| 2 Bedrooms | 7 | 7 | 0.0% |
| 3 Bedrooms | 32 | 37 | +15.6% |
| 4 Bedrooms | 8 | 8 | 0.0% |
| 5+ Bedrooms | 0 | 1 | +100.0% |
Summary: The Fairview Park housing inventory by bedroom type for May 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 15.6%, 4 bedroom homes remained the same, and 5+ bedroom homes increased by 100%.
Number of Homes Sold
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 18 | 18 | 0.0% |
Asking Price vs. Sold Price
7 Homes Were Sold
Under Asking
2 Homes Were Sold
At Asking
9 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Fairview Park, you could pay more than the asking price. 50% of homes here sold above asking price last month.
Summary: A total of 18 homes were sold or pending in Fairview Park in May 2024, the same as the previous month. Of the 18 sold homes, 39% were sold under asking, 11% were sold at asking, and 50% were sold over asking.
Days on Market for Fairview Park, OH
How long does it take to sell a home in Fairview Park, OH?
Average Sale Time
| May 2023 | May 2024 | CHANGE |
|---|---|---|
| 17 Days | 14 Days | -15.3% |
Summary: Homes in Fairview Park had an average of 14 days on market in May 2024, down by 15.3% compared to last year.
Breakdown of Home Sale Times
13 Homes Were Sold
Under 30 Days
5 Homes Were Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Fairview Park are selling fast, if you're buying plan to act quickly.
Summary: During May 2024, 18 homes were sold in Fairview Park; 72% of homes were sold within 30 days, 28% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.
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