Month-over-Month Changes

In November 2023, the Fremont real estate market experienced the following changes compared to October 2023:

  • Homes Sold: Decreased slightly by 3%, with 64 homes sold in November compared to 66 in the previous month.
  • Median Sale Price: Decreased by 12%, from $1,710,000 in October 2023 to $1,512,500 in November 2023.
  • Days on Market (DOM): Remained stable at 8 days, the same as in October 2023.
  • Percentage of List Price Received: Sellers received 104% of their asking price in November, a slight decrease from 106% in October.

Analysis

The month-over-month data for Fremont indicates a slight decrease in the number of homes sold and a notable decrease in the median sale price. The stable DOM and a high percentage of list price received suggest that while there is a slight cooling, the market remains favorable for sellers.

Year-over-Year Comparison

Comparing November 2023 to November 2022, the Fremont market shows the following changes:

  • Homes Sold: Decreased by 3%, from 66 homes in November 2022 to 64 in November 2023.
  • Median Sale Price: Increased by 5%, from $1.44M in November 2022 to $1.51M in November 2023.
  • Days on Market: Decreased significantly from 16 days in November 2022 to 8 days in November 2023.
  • Percentage of List Price Received: Improved from 98% in November 2022 to 104% in November 2023.

Analysis

Year-over-year, Fremont’s real estate market has seen a slight decrease in the number of homes sold but an increase in median sale prices. The significant decrease in DOM and the improvement in the percentage of list price received indicate a strong seller’s market.

Price Points and Quadrants

The sales data for November 2023 in Fremont, broken down by quadrants, reveals:

  • Top Quadrant: 16 homes sold, Median Sale Price: $2,475,000, Median DOM: 11, Avg. $/Sq.Ft.: $1,006.
  • Second Quadrant: 16 homes sold, Median Sale Price: $1,687,500, Median DOM: 7, Avg. $/Sq.Ft.: $1,006.
  • Third Quadrant: 16 homes sold, Median Sale Price: $1,406,000, Median DOM: 9, Avg. $/Sq.Ft.: $991.
  • Bottom Quadrant: 16 homes sold, Median Sale Price: $1,167,500, Median DOM: 7, Avg. $/Sq.Ft.: $856.

Analysis

The quadrant data for Fremont in November 2023 shows a balanced distribution of sales across all price ranges. The top and second quadrants, representing higher-priced homes, have a shorter DOM, indicating a quicker movement in these segments.

Conclusion

The Fremont market in November 2023 demonstrated a slight decrease in homes sold month-over-month but an increase in median sale prices year-over-year. The market is experiencing a shift with shorter DOM and sellers receiving above their asking price. The quadrant data provides valuable insights for both buyers and sellers, indicating a robust market across all price segments.

Data provided by MLSListings and is deemed reliable but not guaranteed.