The real estate market in Fremont slowed only slightly from last year compared to the slowdown we’ve seen in other markets.
According to statistics culled from the BayEast MLS (the source of all of our statistics, by the way), the average home in Fremont sold in June for $718,513, just barely below the $719,932 average list price. The median price was $660,000.
What we say about appreciation depends on what number you like, or we could hedge our bets and call it flat. Based on sold price per square foot, the average home sold for 2.68% more than it did last June, however, the median price was down 1.86%. There’s certainly not much difference for those who may have bought at the height of the price curve, banking on appreciation. If that’s what you did, you’ll get it, but I hope you have a lot of patience.
Most metrics show the slowdown to be moderate, as we said before. Unit volume is down 20.2% (as opposed to 25-50% in other areas), and expireds only rose from a total of 31 to 41. The expired to sold ratio is currently at 17%, which is still quite low. Inventory is also low at 2.4 months.