Skip to main content

Market report for Fremont Bay Area area February 2023

Page 1


Fremont area

Milpitas

Jump to Milpitas Report

Fremont

Jump to Fremont City Report

Newark

Jump to Newark Report

Union City

Jump to Union City Report

Hayward

Jump to Hayward Report

Castro Valley

Jump to Castro Valley Report

Jump to San Leandro Report

Tri-Cities

San Leandro (Fremont, Newark & Union City)

Jump to Tri-Cities Report

Pleasanton

Jump to Pleasanton Report

San Ramon

Jump to San Ramon Report

Livermore

Jump to Livermore Report

What’syourhome reallyworthin today’smarket?

That's really the question you should be asking yourself

Our market is incredibly diverse, and rapidly changing Values vary not just by neighborhood, but by street Your home isn't necessarily worth what your neighbors’ home is worth At the end of the day, it’s the current market that sets the value of your home

So, do you know what your home is worth in today's market?

Icanhelp...

Contact me for a confidential, no obligation assessment of your home's value.

LowerMortgageRatesAre BringingBuyersBacktothe Market

As mortgage rates rose last year, activity in the housing market slowed down. As a result, homes started seeing fewer offers and staying on the market for longer. That meant some homeowners decided to pause on selling.

Now, however, rates are beginning to come down—and buyers are starting to re-enter the market. In fact, the latest data from the Mortgage Bankers Association (MBA) shows an increase of 7% more mortgage applications, as compared to the week before.

Milpitas

What's in the Milpitas data?

Milpitas' single-family housing market saw a decrease to a $1.3M median sold price, with 9 units sold and 39 new listings. The condo & townhome market has declined month-over-month, with 37 new listings and 4 sales, totaling approximately $897K. Buyers have remained aggressive with their offer prices continuing to be at around 100%. Only 6% of homes have been completed, so the market has seen a decrease in supply. The surging demand continues driving the cost of buying up, creating an imbalance between the pricing range and active options in the marketplace.

37

Single Family Homes

Last 12 months, year-over-year.

Condos & Townhomes

Last 12 months, year-over-year

Single Family Homes

The median sales price decreased from $1.4m in January 2022, to $1 3m compared to January 2023

Condos & Townhomes

The median sales price has decreased from $1 1m in January 2022, to $897k as of January 2023

AVGDays OntheMarket

Single Family Homes

The average days on market has increased from 12 days in January 2022, to 14 days in January 2023

Condos & Townhomes

The average days on market has increased from 16 days in January 2022, to 61 days in January 2023

Overbids

Single Family Homes

The overbid percentage has decreased from 108.4% in January 2022, to 100.4% as of January 2023.

Condos & Townhomes

The overbid percentage has decreased from 107.7% in January 2022, to 98.7% as of January 2023.

Fremont

What's in the Fremont data?

Fremont's single-family housing market saw a decrease to a $1.3M median sold price, with 41 units sold and 106 new listings. The condo & townhome market inclined monthover-month, with 90 new listings and 18 sales, totaling approximately $1M. Buyers have remained aggressive with their offer prices continuing to be at around 100%. Only 6% of homes have been completed, so the market has seen a decrease in a upply. The surging demand continues driving the cost of buying up, creating an imbalance between the pricing range and active options in the marketplace.

Single Family Homes

106 New Listings

41 Sold Listings

1.3 Months of Inventory

$1.3M Median Sale Price

96.8%

Median Sale vs List

38 Avg Days on Market

Data includes all single family, townhome, and condominium sales in Alameda, Albany, Berkeley, Castro Valley, El Cerrito, El Sobrante, Emeryville, Fremont, Hayward, Lafayette, Moraga, Newark, Oakland, Orinda, Piedmont, Richmond, San Leandro, San Lorenzo, San Pablo and Union City sourced from Broker Metrics. Data from sources deemed reliable but may contain errors and are subject to revision. © 2023. All rights reserved. Each Office Is Independently Owned and Operated. DRE#02029039.

90

New Listings

18

Sold Listings

1.5

Months of Inventory

$1M

Median Sale Price 95.2%

Median Sale vs List

38

Avg Days on Market

JANUARY 2021 - JANUARY 2022

Single Family Homes

Condos & Townhomes

Single Family Homes

The median sales price has decreased from $1 6m in January 2022, to $1 3m as of January 2023

Condos & Townhomes

The median sales price has increased from $883k in January 2022, to $1m as of January 2023.

AVGDays OntheMarket

Single Family Homes

The average days on market went up from 13 days in January 2022, to 38 days in January 2023

Condos & Townhomes

The average days on market has increased from 19 days in January 2022, to 38 days as of January 2023

Overbids

Single Family Homes

The overbid percentage has decreased from 113.2% in January 2022, to 93.8% as of January 2023.

Condos & Townhomes

The overbid percentage has decreased, from 110 2% in January 2022, to 95 2% as of January 2023

Newark

What's in the Newark data?

Newark's single-family housing market saw a decrease to a $1M median sold price, with 13 units sold and 35 new listings. The condo & townhome market has inclined month-over-month, with 17 new listings and 6 sales, totaling approximately $643K. Buyers have remained aggressive with their offer prices continuing to be at around 100%. Only 6% of homes have been completed, so the market has seen a decrease in supply. The surging demand continues driving up, creating an imbalance between the pricing range and active options in the marketplace.

Single Family Homes

35 New Listings

13 Sold Listings

0.9 Months of Inventory

$1M Median Sale Price

92.1%

Median Sale vs List

18 Avg Days on Market

The data includes all single-family, townhome, and condominium sales in Milpitas, Fremont, Newark, Union City, Hayward, San Leandro, Tri-Cities, Pleasanton, San Ramon, Livermore, and Castro Valley sourced from Broker Metrics. Data from sources deemed reliable may contain errors and be subject to revision. © 2023. All rights reserved. Each Office Is Independently Owned and Operated. DRE# 01345026.

17

New Listings

& Townhomes

6

Sold Listings

0.6

Months of Inventory

$643K

Median Sale Price 99.6%

Median Sale vs List

22

Avg Days on Market

Single Family Homes

The median sales price has decreased from $1 3m in January 2022, to $1m as of January 2023

Condos & Townhomes

The median sales price has increased from $622k in January 2022, to $643k as of January 2023.

AVGDays OntheMarket

Single Family Homes

The average days on market has increased from 11 days in January 2022, to 18 days as of January 2023.

Condos & Townhomes

The average days on market has increased from 10 days in January 2022, to 22 days as of January 2023

Overbids

Single Family Homes

The overbid percentage has decreased from 117.4% in January 2022, to 92.1% as of January 2023.

Condos & Townhomes

The overbid percentage has decreased from 102 2% in January 2022, to 99 6% as of January 2023

Union City

What's in the Union City data?

Union City's single-family housing market saw a decrease to a $1.3M median sold price, with 9 units sold and 38 new listings. The condo & townhome market has declined month-over-month, with 13 new listings and 4 sales, totaling approximately $475K. Buyers have remained aggressive with their offer prices continuing to be at around 100%. Only 6% of homes have been completed, so the market has seen a decrease in supply. The surging demand continues driving the cost of buying up, creating an imbalance between the pricing range and active options in the marketplace.

Single Family Homes

38 New Listings

9 Sold Listings

0.9 Months of Inventory

$1.3M Median Sale Price

92% Median Sale vs List

18 Avg Days on Market

The data includes all single-family, townhome, and condominium sales in Milpitas, Fremont, Newark, Union City, Hayward, San Leandro, Tri-Cities, Pleasanton, San Ramon, Livermore, and Castro Valley sourced from Broker Metrics. Data from sources deemed reliable may contain errors and be subject to revision. © 2023. All rights reserved. Each Office Is Independently Owned and Operated. DRE# 01345026.

Listings

2 Months of Inventory

Median Sale Price 92.9% Median Sale vs List 63 Avg Days on Market 4 Sold Listings

ngle Family Homes

Single Family Homes

The median sales price has decreased from $1 5m in January 2022, to $1 3m as of January 2023

Condos & Townhomes

The median sales price has decreased from $687k, in January 2022, to $475k as of January 2023.

AVGDays OntheMarket

Single Family Homes

The average days on market went up from 7 days last January 2022, to 18 days as of January 2023.

Condos & Townhomes

The average days on market went up from 24 day in January 2022, to 63 days as of January 2023

Overbids

Single Family Homes

The overbid percentage has decreased from 115% last January 2022, to 92% a year later.

Condos & Townhomes

The overbid percentage has decreased from 100 3% last January 2022, to 92.9% a year later.

Hayward

What's in the Hayward data?

Hayward's single-family housing market saw a decrease to an $865K median sold price, with 30 units sold and 150 new listings. The condo & townhome market inclined month-over-month with 51 new listings, and 10 sales totaling approximately $669K. Buyers have remained aggressive with their offer prices continuing to be at around 100%. Only 6% of homes have been completed, so the market has seen a decrease in supply. The surging demand continues driving the cost of buying up, creating an imbalance between the pricing range and active options in the marketplace.

Single Family Homes

150 New Listings

30 Sold Listings

1.5 Months of Inventory

$865K Median Sale Price

93.5% Median Sale vs List

33 Avg Days on Market

The data includes all single-family, townhome, and condominium sales in Milpitas, Fremont, Newark, Union City, Hayward, San Leandro, Tri-Cities, Pleasanton, San Ramon, Livermore, and Castro Valley sourced from Broker Metrics. Data from sources deemed reliable may contain errors and be subject to revision. © 2023. All rights reserved. Each Office Is Independently Owned and Operated. DRE# 01345026.

51

New Listings

10

Sold Listings

1.4

Months of Inventory

$669K

Median Sale Price 95.9%

Median Sale vs List

61

Avg Days on Market

Single Family Homes

Last 12 months, year-over-year. Condos & Townhomes

Last 12 months, year-over-year

Median SalesPrice

Single Family Homes

The median sales price has decreased from $965k last January 2022, to $865k as of January 2023

Condos & Townhomes

The median sales price has increased from $625k last January 2022, to $669k as of January 2023.

AVGDays OntheMarket

Single Family Homes

The average days on market went up from 13 days last January 2022, to 33 days as of January 2023.

Condos & Townhomes

The average days on market went up from 22 days in January 2022, to 61 days as of January 2023

Overbids

Single Family Homes

The overbid percentage has decreased from 107.9% last January 2022, to 93.5% a year later.

Condos & Townhomes

The overbid percentage has decreased from 103 7% last January 2022, to 95 9% a year later.

Castro Valley

What's in the Castro Valley data?

Castro Valley's single-family housing market saw a decreased to $1M median sold price, with 27 units sold and 48 new listings. The condo & townhome market declined month-over-month, with 6 new listings and 4 sales, totaling approximately $619K. Buyers have remained aggressive their offer prices at around 100%. Only 6% of homes have been completed, so the market has seen a decrease in supply. The surging demand continues driving the cost of buying up, creating an imbalance between the pricing range and active options in the marketplace.

Single Family Homes

48 New Listings

27 Sold Listings

1 Months of Inventory

$1M Median Sale Price

94.5%

Median Sale vs List

40 Avg Days on Market

The data includes all single-family, townhome, and condominium sales in Milpitas, Fremont, Newark, Union City, Hayward, San Leandro, Tri-Cities, Pleasanton, San Ramon, Livermore, and Castro Valley sourced from Broker Metrics. Data from sources deemed reliable may contain errors and be subject to revision. © 2023. All rights reserved. Each Office Is Independently Owned and Operated. DRE# 01345026.

New Listings

4 Sold Listings

0 Months of Inventory $619K

Median Sale Price 96.1%

Median Sale vs List 0 Avg Days on Market

CastroValley

Single Family Homes

Last 12 months,

Condos & Townhomes

Single Family Homes

The median sales price has decreased from $1 2m last January 2022, to $1m as of January 2023

Condos & Townhomes

The median sales price has decreased from $835k last January 2022, to $619k as of January 2023.

AVGDays OntheMarket

Single Family Homes

The average days on market went up from 9 days last January 2022, to 40 days as of January 2023

Condos & Townhomes

The average days on market went down from 5 days in January 2022, to 0 days as of January 2023

Overbids

Single Family Homes

The overbid percentage has decreased from 110.3% last January 2022, to 94.5% a year later.

Condos & Townhomes

The overbid percentage has decreased from 106 78% last January 2022, to 96 1% a year later.

San Leandro

What's in the San Leandro data?

San Leandro's single-family housing market saw a decrease to a $767K median sold price, with 25 units sold and 65 new listings. The condo & townhome market has inclined month-over-month, with 18 new listings and 4 sales, totaling approximately $531K. Buyers have remained aggressive with their offer prices continuing to be at around 100%. Only 6% of homes have been completed, so the market has seen a decrease in supply. The surging demand continues driving the cost of buying up, creating an imbalance between the pricing range and active options in the marketplace.

Single Family Homes

65 New Listings

25 Sold Listings

1.5 Months of Inventory

$767K Median Sale Price

98.3% Median Sale vs List

30 Avg Days on Market

The data includes all single-family, townhome, and condominium sales in Milpitas, Fremont, Newark, Union City, Hayward, San Leandro, Tri-Cities, Pleasanton, San Ramon, Livermore, and Castro Valley sourced from Broker Metrics. Data from sources deemed reliable may contain errors and be subject to revision. © 2023. All rights reserved. Each Office Is Independently Owned and Operated. DRE# 01345026.

18

New Listings

4 Sold Listings

1.8

Months of Inventory

$531K

Median Sale Price

93%

Median Sale vs List

24 Avg Days on Market

SanLeandro

Single Family Homes

Last 12 months, year-over-year. Condos & Townhomes

Median SalesPrice

Single Family Homes

The median sales price has decreased from $917k last January 2022, to $767k as of January 2023

Condos & Townhomes

The median sales price has increased from $515k last January 2022, to $531k as of January 2023.

AVGDays OntheMarket

Single Family Homes

The average days on market went up from 10 days last January 2022, to 30 days as of January 2023

Condos & Townhomes

The average days on market went down from 28 days in January 2022, to 24 days as of January 2023

Overbids

Single Family Homes

The overbid percentage has decreased from 110.7% last January 2022, to 98.3% a year later.

Condos & Townhomes

The overbid percentage decreased from 106% last January 2022, to 93% a year later

Tri-Cities

What's in the Tri-Cities data?

Tri-Cities' single-family housing market saw a decrease to a $1.2M median sold price, with 63 units sold and 180 new listings. The condo & townhome market has inclined month-over-month, with 130 new listings and 29 sales, totaling approximately $800K. Buyers have remained aggressive with their offer prices continuing to be at around 100%. Only 6% of homes have been completed, so the market has seen a decrease in supply. The surging demand continues driving the cost of buying up, creating an imbalance between the pricing range and active options in the marketplace.

Single

Family Homes

180 New Listings

63 Sold Listings

1.1 Months of Inventory

$1.2M Median Sale Price

95.4%

Median Sale vs List

28

Avg Days on Market

The data includes all single-family, townhome, and condominium sales in Milpitas, Fremont, Newark, Union City, Hayward, San Leandro, Tri-Cities, Pleasanton, San Ramon, Livermore, and Castro Valley sourced from Broker Metrics. Data from sources deemed reliable may contain errors and be subject to revision. © 2023. All rights reserved. Each Office Is Independently Owned and Operated. DRE# 01345026.

Single Family Homes

Last 12 months, year-over-year.

Condos & Townhomes

Last 12 months, year-over-year

Single Family Homes

The median sales price has decreased from $1.5m last January 2022, to $1.2m as of January 2023.

Condos & Townhomes

The median sales price has increased from $710k last January 2022, to $800k as of January 2023

AVGDays OntheMarket

Single Family Homes

The average days on market went up from 11 days last January 2022, to 28 days in January 2023.

Condos & Townhomes

The average days on market went up from 19 days in January 2022, to 36 days as of January 2023

Overbids

Single Family Homes

The overbid percentage has decreased from 114.2 last January 2022, to 95.40% a year later.

Condos & Townhomes

The overbid percentage has decreased from 106.6% last January 2022, to 95.7% a year later.

Pleasanton

What's in the Pleasanton data?

Pleasanton's single-family housing market saw a decrease to a $1.4M median sold price, with 19 units sold and 46 new listings. The condo & townhome market has declined month-over-month m, with 17 new listings and 8 sales, totaling approximately $716K. Buyers remain aggressive in their offer prices at around 100%. Only 6% of homes have been completed, so the market has seen a decrease in supply. The surging demand continues driving the cost of buying up, creating an imbalance between the pricing range and active options in the marketplace.

Single Family Homes

46 New Listings

19 Sold Listings

1.1 Months of Inventory

$1.4M Median Sale Price

94%

Median Sale vs List

36 Avg Days on Market

The data includes all single-family, townhome, and condominium sales in Milpitas, Fremont, Newark, Union City, Hayward, San Leandro, Tri-Cities, Pleasanton, San Ramon, Livermore, and Castro Valley sourced from Broker Metrics. Data from sources deemed reliable may contain errors and be subject to revision. © 2023. All rights reserved. Each Office Is Independently Owned and Operated. DRE# 01345026.

New Listings

8

Sold Listings

0.8

Months of Inventory

$716K

Median Sale Price 95%

Median Sale vs List

37 Avg Days on Market

Single Family Homes

The median sales price has decreased from $1 8m last January 2022, to $1 4m as of January 2023

Condos & Townhomes

The median sales price has decreased from $805k last January 2022, to $716k as of January 2023

AVGDays OntheMarket

Single Family Homes

The average days on market is up from 9 days last January 2022, to 36 days as of January 2023.

Condos & Townhomes

The average days on market went up from 6 days in January 2022, to 37 days as of January 2023

Overbids

Single Family Homes

The overbid percentage has decreased from 111.5% last January 2022, to 94% a year later.

Condos & Townhomes

The overbid percentage has decreased from 106% last January 2022, to 95% a year later

San Ramon

What's in the San Ramon data?

San Ramon's single-family housing market saw a decrease to a $1.5M median sold price, with 12 units sold and 40 new listings. The condo & townhome market has declined month-over-month, with 32 new listings and 4 sales, totaling approximately $541K. Buyers have remained aggressive with their offer prices continuing to be at around 100%. Only 6% of homes have been completed, so the market has seen a decrease in supply. The surging demand continues driving the cost of buying up, creating an imbalance between the pricing range and active options in the marketplace.

Single Family Homes

40 New Listings

12 Sold Listings

0.8 Months of Inventory

$1.5M Median Sale Price

93.3% Median Sale vs List

40

Avg Days on Market

The data includes all single-family, townhome, and condominium sales in Milpitas, Fremont, Newark, Union City, Hayward, San Leandro, Tri-Cities, Pleasanton, San Ramon, Livermore, and Castro Valley sourced from Broker Metrics. Data from sources deemed reliable may contain errors and be subject to revision. © 2023. All rights reserved. Each Office Is Independently Owned and Operated. DRE# 01345026.

32

New Listings

4 Sold Listings

1.6

Months of Inventory

$541K

Median Sale Price

93.2%

Median Sale vs List

56 Avg Days on Market

ingle Family Homes

ast 12 months, year-over-year.

ondos & Townhomes

Median SalesPrice

Single Family Homes

The median sales price has decreased from $2 1m last January 2022, to $1 5m as of January 2023

Condos & Townhomes

The median sales price has decreased from $1.1m last January 2022, to $541k as of January 2023.

AVGDays OntheMarket

Single Family Homes

The average days on market is up from 6 days last January 2022, to 40 days as of January 2023

Condos & Townhomes

The average days on market went up from 13 days in January 2022, to 56 days as of January 2023

Overbids

Single Family Homes

The overbid percentage has decreased from 110.8% last January 2022, to 93.3% a year later.

Condos & Townhomes

The overbid percentage has decreased from 113 1% last January 2022, to 93 2% a year later

Livermore

What's in the Livermore data?

Livermore's single-family housing market saw a decreased to $1M median sold price, with 38 units sold and 83 new listings. The condo & townhome market has declined month-over-month. with 13 new listings and 9 sales, totaling approximately $750K. Buyers remain aggressive with their offer prices continuing to be at around 100%. Only 6% of homes have been completed, so the market has seen a decrease in supply. The surging demand continues driving the cost of buying up, creating an imbalance between the pricing range and active options in the marketplace.

Single Family Homes

83 New Listings

38 Sold Listings

0.7 Months of Inventory

$1M Median Sale Price

93.8%

Median Sale vs List

29

Avg Days on Market

The data includes all single-family, townhome, and condominium sales in Milpitas, Fremont, Newark, Union City, Hayward, San Leandro, Tri-Cities, Pleasanton, San Ramon, Livermore, and Castro Valley sourced from Broker Metrics. Data from sources deemed reliable may contain errors and be subject to revision. © 2023. All rights reserved. Each Office Is Independently Owned and Operated. DRE# 01345026.

New Listings

Median Sale vs List 39 Avg Days on Market 9 Sold Listings

1 Months of Inventory $750K Median Sale Price 96.8%

Single Family Homes

Last 12 months, year-over-year.

Condos & Townhomes

Last 12 months, year-over-year

Single Family Homes

The median sales price has decreased from $1 2m last January 2022, to $1m as of January 2023

Condos & Townhomes

The median sales price has decreased from $780k last January 2022, to $750k as of January 2023.

AVGDays OntheMarket

Single Family Homes

The average days on market went up from 10 days last January 2022, to 29 days as of January 2023.

Condos & Townhomes

The average days on market went up from 6 days in January 2022, to 39 days as of January 2023.

Overbids

Single Family Homes

The overbid percentage has decreased from 107.6% last January 2022, to 93.8% a year later.

Condos & Townhomes

The overbid percentage has decreased from 102.7% last January 2022, to 96.8% a year later.

Turn static files into dynamic content formats.

Create a flipbook
Market report for Fremont Bay Area area February 2023 by Procasa Technologies, Inc - Issuu