Fairmont home prices fall in the third quarter of 2020

Medium realestate4

The median sale price of a home sold in the third quarter of 2020 in Fairmont fell by $96,500 while total sales decreased by 33.3%, according to BlockShopper.com.

From July through September of 2020, there were six homes sold, with a median sale price of $69,000 - a 58.3% decrease over the $165,500 median sale price for the same period of the previous year. There were nine homes sold in Fairmont in the third quarter of 2019.

The median sales tax in Fairmont for the most recent year with available data, 2019, was $1,258, approximately 1.8% of the median home sale price for the third quarter of 2020.

The following table compares Fairmont to other Will County cities with similar median sales prices in the third quarter of 2020:

CityJuly - Sept. 2020 Home SalesJuly - Sept. 2019 Home Sales% change (Total Home Sales)July - Sept. 2020 Median Sales PriceJuly - Sept. 2019 Median Sales Price% change (Median Sales Price)
Lincoln Estates330%$160,000$299,900-46.6%
Lakewood Shores28-75%$157,500$201,500-21.8%
Ingalls Park516-68.8%$136,000$112,20021.2%
University Park1427-48.1%$123,250$105,00017.4%
Park Forest171421.4%$84,900$69,60022%

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