Fremont’s real estate market in December cooled slightly from last year, but so have markets everywhere. To me, writing about the decline in the Bay Area real estate market is a lot like trying to pick out the ugliest woman at the Miss USA Pageant. Even the bad news looks pretty good.
Specifically, 169 residential units sold in Fremont in December of 2005, down 28.5% from last year’s total of 233. Expireds were up from 17 to 32. This means the ratio of expired to sold was up from 7% to 19%, but 19% is hardly a tragegedy. Similarly, days on market are up from 15 to 24, but 24 is pretty good compared to most markets.
The average home sold through the MLS in Fremont in December listed for $668,634, and sold for $663,718, or 99.3% of list. On a cost per square foot basis, homes appreciated 12.6% from December to December. Inventory is very low at just over two months.