JOSH UY
Real Estate Consultant
DRE #01952401
Fremont Sales Data
2021 -2024
Home sales were tracked on a quarterly basis since Q1 2021, specifically targeting detached single family properties within the four residential zip codes of Fremont: 94536, 94538, 94539, & 94555. To get a better idea of the market activity since that time, we focused on three key metrics: number of homes sold, list vs sold price, and sold $ per sq ft. This data was obtained from the Bayeast Association of Realtors MLS (deemed reliable but not guaranteed), then organized by Josh Uy. Please reach out if you would like to see more details about the search and/or the full data set.
1.) Number of Homes Sold
Historically March & the Q2 months (April, May, June) have always been the most active season in the market, seeing the highest amount of listings & also more buyer activity. In the past few years though, the increased activity & pace have sometimes extended beyond the Spring trend and into the Summer period.
Compared to Q3 last year, Fremont has seen an increase in sold inventory for most areas in 2024 (the only exception was 94539 at -2%), but note both periods were much lower than the more active 2022 year.
2.) Average Sold Price
While rates have yet to drop considerably (Sept was the first Fed rate cut since 2020), all of the zip codes in Fremont have surpassed their previous 2022 highs either during this quarter or back in Q2 2024.
The 94555 zip code is currently sitting at an all time high of $2.04M, while 94539 is just 1% away the all time high at $2.76M. 94536 & 94538’s prices cooled a bit since last quarter, where they both set new all time highs. Compared to Q3 2023, 94555 was the biggest gainer at +27%, followed by 94539 at + 16%, then 94539 at +6%, and lastly 94536 with +2%. Price has rebounded quite well since the Q4 2022 / Q1 2023 time frame.
Traditionally Q2 is the quarter with the highest averages in the year, while there tends to be a drop off in Q4 with the lower activity. Looking at the data since 2021, there are definitely seasonal trends that influence price (along with marketing, upgrades, etc), but the major shifts in price are more attributed to broader economic changes (i.e interest rate movement: relaxed at 2-3%, then up rapidly, and now slowly declining).
3.) Sold $ per sq ft
After Fremont recorded new all time highs in all zip codes last quarter, prices cooled off a little during Q3. Despite the dip, these Sold $ Per Sq Ft figures are still higher than the 2022 peak periods, the only exception being 94536 at just -.5% lower. While 94536 was slightly negative, everyone else saw gains since then: 94538 at +2%, 94555 at +5.2%, and 94539 at +8.2%.
Compared to Q3 2023, the average Sold $ Per Sq Ft figure is up across the board: +10% in 94539, +11% in 94555, +12% in 94536, and +14% in 94538.
Sales data pulled from the Bayeast Association of Realtors MLS & organized by Josh Uy (data deemed reliable but not guaranteed). Fremont zip code data obtained from zip-codes.com.
