Unlock Tremendous Value: Fremont Homes Selling at Record Pace! 2024

Fremont, CA Real Estate Market Update: June 2024

Welcome to the latest edition of the Fremont, CA real estate market update. If you’re considering selling your home in Fremont, this comprehensive guide will provide you with the essential information you need to make an informed decision. From current price trends to inventory levels, we cover all the critical aspects of the Fremont housing market. Let’s dive in!

1. Fremont Housing Market Overview

3-Year Price Trend

The Fremont housing market has experienced notable fluctuations over the past three years. As of June 2024, the price per square foot (PPSF) has shown a resilient upward trend, currently averaging at $1,036. This price represents a significant increase from earlier years, indicating a robust market.

Median List Price Per Square Foot

• Median List Price: $1,036/sq. ft.
• Low Price: $509/sq. ft.
• High Price: $1,382/sq. ft.

These figures highlight the diversity in property values across Fremont, offering opportunities for both budget-conscious buyers and those seeking luxury homes.

2. Market Dynamics

Days on Market

One key indicator of market health is how long homes stay on the market. Currently, homes in Fremont spend an average of 18 days on the Multiple Listing Service (MLS), a 12% decrease year-over-year (YoY). This quick turnover suggests a strong demand for homes in the area.

Buyer and Seller Behavior

• Buyers Paying Over List Price: 80% (+6% YoY)
• Sellers Reducing Prices: 12% (+8% YoY)

A substantial 80% of buyers are willing to pay over the list price, which indicates a competitive market. On the other hand, 12% of sellers have reduced their prices, which might reflect an adjustment to more realistic market expectations or pricing strategies to attract buyers.

3. Inventory and Listings

Inventory by Days Active

The distribution of active listings by their days on the market provides insight into inventory turnover:

• 0-7 Days (Blue): 12%
• 1-2 Weeks (Light Blue): 30%
• 2-3 Weeks (Green): 18%
• 3-4 Weeks (Yellow): 5%
• 5+ Weeks (Red): 35%

Most homes are sold within the first two weeks of listing, further underscoring the market’s brisk pace. This fast turnover can be advantageous for sellers looking to close deals quickly.

Percentage of Listings Reduced

Over the past three years, the percentage of listings that have seen price reductions has varied, peaking during mid-2022 but showing a downward trend more recently. As of June 2024, the rate of listings with reduced prices has stabilized, suggesting sellers are becoming more adept at setting competitive prices from the outset.