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Neighborhoods Watch: Fremont Real Estate Trends


Why this is the perfect place for investors.

With nearly 80% of households earning above $75,000, Fremont, CA, boasts a prosperous and thriving community. Its peaceful environment and vibrant economy make it an attractive place to live and invest in real estate.

Fremont is unique in California's history as the birthplace of the state's motion picture industry. This legacy of innovation continued when Apple and Steve Jobs opened their first manufacturing site here in 1984, cementing Fremont's status as a key player on the hardware side of the Bay Area's tech scene. Fremont's automotive industry has also produced millions of trucks and cars, showcasing the city's long-standing industrial prowess. Modern innovation creates a dynamic environment that attracts a diverse and affluent population.

Fremont's serene neighborhoods and its strategic location near Silicon Valley offer the perfect balance of tranquility and opportunity. Whether you're looking to invest or sell real estate, Fremont's robust economy and high quality of life make it an ideal destination for anyone seeking to be part of a thriving community. As you explore the real estate trends in Fremont, you'll discover a city that delivers a wealth of opportunities.

Fremont's booming housing market

The current housing market in Fremont is experiencing a remarkable upswing, making it a prime location for real estate investment. As of April 2024, the median sold price in Fremont reached an impressive $1,424,523, translating to $917 per square foot. It is a 7.5% increase from the previous year, showcasing the city's growing appeal and robust market conditions.

In comparison, Alameda County, where Fremont is located, also saw significant gains. The median sold price in the county stood at $1,401,250 in April 2024, reflecting a 14.4% rise from the previous year. Home sales in Alameda County surged by 20.3%, highlighting the region's strong demand and active market.

Looking at the broader picture, Fremont's housing market outperforms state and national averages. The median home price across the United States was $420,800 in the first quarter of 2024, while California's state median home price was $793,600. These figures underscore Fremont's highly desirable location within a thriving state.

The competitive nature of Fremont's market is evidenced by the fact that 86% of homes sold for over the asking price in April 2024, with only 6% selling under the asking price. This dynamic indicates a seller's market, where demand continues to outstrip supply, driving prices upward and creating lucrative opportunities for those looking to sell their properties. For investors and sellers, Fremont's housing market presents an enticing prospect. The consistent appreciation in home values, coupled with high buyer demand, ensures that investing in Fremont real estate is a secure and profitable endeavor.

Exploring Fremont's neighboring markets

Fremont's thriving real estate market is complemented by equally robust neighboring areas, making the entire region a hotspot for potential buyers and investors. Newark, Union City, and Milpitas have all witnessed substantial growth and present lucrative opportunities for those looking to invest or sell real estate.

In Newark, the median sold price in April 2024 reached $1,230,000, reflecting a 9.6% increase from the previous year. This upward trend underscores the area's strong market dynamics, positioning it firmly as a seller's market. Union City mirrors Newark's real estate landscape, reporting a median sold price of $1,230,000 in April 2024. This figure represents a 5% increase from the previous year, further highlighting the area's steady appreciation and competitive market.

Milpitas boasts a median sold price of $1,360,000 in April 2024. This price point marks a 5.4% increase from the previous year, reinforcing the area's consistent growth. As with Newark and Union City, Milpitas remains a seller's market, with properties being highly sought after by eager buyers. These neighboring cities create a robust real estate corridor, amplifying the appeal of investing in the Fremont area.

A snapshot of market dynamics

The housing supply in Fremont is a key indicator of the market's health and vibrancy. In March 2024, were 281 homes available for sale, which increased to 325 homes in April 2024. This uptick in available properties indicates a responsive market, catering to the high demand from eager buyers looking to make Fremont their home.

Despite the increase in homes for sale, the number of homes sold remained relatively stable, with 124 homes sold in March 2024 and 120 homes sold in April 2024. This consistency in sales volume highlights the ongoing strong demand for real estate in Fremont, where interested buyers quickly snap up properties.

One of the most striking aspects of Fremont's housing market is the speed at which homes are sold. The average time on the market was just 17 days in April 2023, but this figure dropped dramatically to an average of only nine days in April 2024. Furthermore, 96% of homes sold in April 2024 were sold in under 30 days, underscoring the intense competition among buyers and the desirability of Fremont properties.

A prime destination for investment properties

The city's robust rental market, coupled with its steady demand, makes it an ideal location for investors. With an average rent of $1,897 for a two-bedroom home, rental prices have remained stable over the past year, indicating a reliable and consistent income stream for property owners.

One of Fremont's notable neighborhoods, Glenmoor, offers an attractive rental market for investors. The average rent for a two-bedroom home in Glenmoor is $2,547, a slight decrease of 1% from the previous year. Despite this minor dip, Glenmoor remains a sought-after area for renters, providing a steady flow of potential tenants for property owners.

Similarly, the Ardenwood neighborhood stands out with its average rent of $2,900 for a two-bedroom home. Although this reflects a 3% decrease from last year, Ardenwood continues to command high rental rates, appealing to renters looking for quality living spaces. This slight reduction in rent could present an opportune moment for investors to enter the market and capitalize on future appreciation.

Fremont's rental market is bolstered by the fact that 39.3% of homes in the city are rentals. This high percentage indicates a strong demand for rental properties, ensuring landlords can easily find tenants. The combination of stable rental prices, desirable neighborhoods, and a significant proportion of rental homes makes Fremont a prime destination for real estate investment.

Is now the right time to invest in Fremont real estate?

Investing in Fremont real estate now could be a wise decision, given the market's promising trends and the potential for long-term gains. Home values have shown a consistent upward trajectory. Nationally, home values have been rising steadily since 1965, doubling approximately every ten years until 2000, when homes didn't double again until 2017. Fremont, with its desirable location and thriving community, is no exception to this pattern of appreciation. As inflation begins to slow, mortgage rates are expected to follow suit. Predictions suggest that they might decrease slightly by late 2024, making it an opportune time for potential investors to secure favorable financing terms.

Fremont's robust market dynamics provide sellers with an excellent environment in which to capitalize on appreciated home values. With homes selling over the asking price and a swift turnover rate, sellers are well-positioned to achieve competitive prices for their properties. The ongoing demand for real estate in Fremont ensures that properties are sold quickly and at attractive price points.

Partner with the experts

Navigating the Fremont real estate market requires the expertise of seasoned professionals, and the Marinelli Real Estate Team is your ideal partner. A family-operated company since 1988, they have consistently ranked among the top ten highest-producing teams in the region. Their deep-rooted knowledge of the local market conditions and trends enables them to secure the best prices for buyers and sellers.