Fremont Real Estate Market Update: December 2024

For those shopping during the Black Friday & Cyber Monday sales, hope you were able to catch some good deals! As you may have heard, US retail sales have started off the holiday season strong, largely driven by the recent boost in consumer confidence. According to the Consumer Confidence Index Board, optimism increased for the second straight month in November and marked a 16 month high for the index! There was also good news in the housing market, as conforming loan limits were raised for 2025 and mortgage rates continued their recovery after having peaked in early November. Locally, most areas are seeing home prices ticking up compared to last month. Sales activity is also way up compared to last year during this time.

Fremont - Quick takeaways (12/04/24): 📈

November 2024 prices - The average home in Fremont sold for $1.91M last month, closing slightly ahead of the Sept & Oct numbers in the $1.8s. Examining the number of homes selling above $3M in the past couple months: August had 10 (record high at $2.14M), Sept had 6, Oct with 5, and November had 6.
Price over asking % - The average home sold 4.7% above the asking price last month, which was nearly similar to the ratio from October at 4.6%. The market is still favoring sellers in many areas, particularly so for neighborhoods with stronger school ratings.
6 month change - Average price over 6 months is down 2.6% from $1.96M in May. While it's been a volatile range between $1.85M-$2.14M, price has generally been on a upward trend since the start of the 2024. If Fremont has another strong month, perhaps we may see price > $2M even before the spring time!
1 yr change - Average price is up 10.9% compared to 1 year ago at $1.72M. The number of homes sold this past November (88 sales) was significantly higher compared to the 66 sold in 2023 and the 65 sold in 2022. Year over year that's a 33% increase in sold inventory, which combined with rising prices, is suggesting the market is getting increasingly hot / active.
See the Nov sold homes HERE.

Take care,

Josh Uy

Fremont Data title banner over Mission Peak and the Fremont hills

Table of Fremont detached home sales month by month over the past two years: number sold, average list price, average sold price, percent over asking, and price per square foot. The latest month's average sold price is highlighted and the one from six months earlier is outlined, and a smaller table below compares the latest month with the same month one and two years earlier

Line chart comparing the average list price and average sold price of Fremont detached homes, month by month over the past two years

Bar chart of the number of detached homes sold in Fremont each month over the past two years

Line chart of the average sold price per square foot of Fremont detached homes, month by month over the past two years

Line chart of the average sold price per square foot in Fremont by quarter over three years, with one line for each zip code: 94536, 94538, 94539 and 94555

Sales data was pulled from the Bayeast Association of Realtors MLS (deemed reliable but not guaranteed), then organized by Josh Uy. For more information on how these trends might affect your home values and/or the timing of your real estate moves, please feel free to contact me anytime. You can also visit my website (www.JoshUy.com) which has additional resources for home buyers and home sellers.

Visit my website!

Contact Josh Uy, REALTOR, DRE #01952401. Phone 510.449.7280. Email Josh@EverhomeRE.com. Website and QR code both link to www.JoshUy.com. Buying, selling, new homes, and investments.