Fremont Real Estate Market Update 2024: Trends, Prices, and Insights

As a local Fremont real estate agent, I’m here to share the latest on our thriving housing market. November 2024 highlights Fremont as a strong seller’s market—a trend that continues to make our city one of the Bay Area’s most desirable places to live.

Fremont: A Seller’s Market

In November 2024, Fremont was clearly a seller’s market. The Months of Inventory dropped to just 0.4 months—a 42.9% decrease from October and a 45.2% drop compared to last year. This low supply means homes are selling faster than ever, creating fierce competition among buyers.

Key Market Metrics

• List-to-Sold Price Ratio: Homes sold for 104.9% of their list price, a slight 0.67% increase from last month. Sellers are receiving offers above the asking price, reflecting high demand.

• Median Days on Market: Homes sold in just 9 days on average, a 12.5% increase compared to last month—still remarkably fast by any standard.

• Median Sold Price: Fremont’s median sold price was $1,721,300, a slight 0.21% dip month-over-month. Despite this, prices remain strong.

New Listings: Fresh Opportunities

November saw 46 new properties hit the market, a 45.9% increase from October. The median list price for these homes was $1,691,500, with a median price per square foot of $1,006, up by 4.7%. These homes averaged 1,734 square feet in living area, a 7.1% rise from the previous month. Total sales volume for new listings reached $93,580,439, demonstrating robust activity.

Pending Listings Snapshot

Pending listings provide insight into market activity. The median list price for pending homes in November was $1,688,000, down slightly by 0.6% from October. There were 41 pending properties, a 52.9% decrease, reflecting the impact of tighter inventory.

Homes in the pending category spent an average of 8 days on the market, 11.1% faster than last month. The median price per square foot was $1,056, with a total pending sales volume of $76,682,548. While fewer homes went under contract, the speed and price stability indicate strong buyer demand.

Sold Listings: A Strong Finish

Sold listings in Fremont highlight the market’s strength. November saw 90 properties sold, an 11.1% increase from October. The median sold price was $1,721,300, nearly identical to last month. Homes sold for 104.87% of their asking price, with a median price per square foot of $1,085, up by 0.2%.

These sales totaled $171,074,502 in volume, a 15.6% increase month-over-month. Properties sold within an average of 9 days, emphasizing how quickly homes move in Fremont.

Months Supply of Inventory

Fremont’s inventory remains tight. The months supply of inventory dropped to 0.4 months, a sharp 42.9% decline from October and a 45.2% drop compared to last year. This limited supply continues to push demand higher, making Fremont a seller’s paradise.

Why Fremont?

Fremont’s excellent schools, diverse communities, and close proximity to Silicon Valley jobs make it a top choice for families and professionals alike. The city’s parks, safety, and vibrant neighborhoods add to its appeal, ensuring that Fremont remains a sought-after destination.

Let’s Work Together

Navigating Fremont’s competitive market takes experience and strategy. Whether you’re buying your dream home or selling your property for top dollar, I’m here to guide you every step of the way. Contact me for personalized advice or a detailed market analysis tailored to your needs. Together, we’ll make your real estate journey a success!