Fairfield Real Estate Insights - June 2024

Welcome to the Monthly Real Estate Insights for Fairfield, CA, for June 2024. This update provides a comprehensive overview of the current market trends and changes in the real estate landscape for single-family residences. Staying informed about these trends is essential for making well-informed decisions whether you are a home buyer, seller, or real estate professional.

top Takeaways

  1. Market Index Score: The Market Index score for June 2024 is 52, indicating a balanced market with a slight advantage for sellers.

  2. Current Trends: The median list price has increased, while the market action score has decreased slightly, suggesting a balanced but slightly cooling market.

  3. Mortgage Rates: The current 30-year fixed mortgage rate is 6.95%, a decrease from last month’s rate of 7.03%.

Market Overview

Key Metrics

  • Median List Price: $720,000 (up from $669,532 last month)

  • Median Price of New Listings: $764,450 (up from $647,500 last month)

  • Average Days on Market: 49 (down from 50 last month)

  • Median Days on Market: 28 (unchanged from last month)

  • Median Rent: $3,073 (up from $2,995 last month)

  • Market Action Score: 52 (down from 56 last month)

Analysis and Trends

The Fairfield real estate market is currently balanced, with a slight advantage for sellers, as indicated by the Market Index score of 52. This balance reflects a stable market where both buyers and sellers have opportunities to negotiate favorable terms. Despite the slight cooling indicated by the decrease in the market action score, the market remains competitive.

Seller’s Perspective

For sellers, a Market Index score of 52 means there are still opportunities to gain favorable terms for their properties. The increase in median list price and new listings price suggests strong demand, enabling sellers to attract multiple offers and competitive pricing. Sellers should remain optimistic but realistic about their pricing strategies to maintain interest and competitiveness.

Buyer’s Perspective

Buyers in Fairfield face a slightly competitive market. However, the balanced nature of the market provides opportunities for negotiation and securing favorable terms. The slight decrease in mortgage rates to 6.95% is a positive development, potentially lowering monthly payments. Buyers should act decisively but also take advantage of the balanced market conditions to negotiate better terms.

Current Market Insights

An interesting fact about the current housing market in Fairfield is the notable increase in the median list price, which has risen to $720,000 from $669,532 last month. This increase highlights the growing demand and willingness of buyers to invest in the market, driven by the desirable location and amenities of Fairfield.

Another noteworthy trend is the increase in median rent, which has risen to $3,073 from $2,995 last month. This reflects a strong rental market, indicating high demand for rental properties, likely due to high home prices and limited availability, making renting a more attractive option for many residents.

Future Outlook

Looking ahead, the Fairfield real estate market is expected to remain balanced with a slight advantage for sellers. The anticipation of steady interest rates and ongoing high demand suggests that both buyers and sellers will continue to find opportunities in the market. Buyers should remain vigilant and prepared to act swiftly, while sellers can expect continued strong interest in their properties.

The Fairfield real estate market in June 2024 continues to be a balanced market with competitive dynamics and slight adjustments in pricing and days on market. Understanding these trends and the implications of the Market Index score can help all parties make better decisions. If you have any questions or need further assistance, please feel free to reach out. Your local real estate professional is here to help guide you through these times with expert advice and support.


Fairfield's real estate market presents a strong opportunity for sellers, while buyers must navigate a competitive landscape. As we move into the next month, staying informed and working with a seasoned Real Estate Professional from Realty One Elite will be key to navigating this dynamic market. For any inquiries or guidance, do not hesitate to reach out and explore how market trends may impact your real estate decisions.


Remember, whether buying or selling, understanding the current market conditions is crucial in making informed decisions. We hope this update provides valuable insights into Fairfield's real estate landscape and aids in your future real estate endeavors.



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