Median sale price declined 10% in south Fremont (94539) while asking price increased 8% from year ago

Aug-10 vs. Aug-11 FOR SALE Aug-10 Aug-11 Change % 859,000.0 929,950.0 70,950.0 +8%

Aug-10 vs. Aug-11 SOLD Aug-10 Aug-11 Change % 839,800 756,000 -83,800 -10%

Supply & Demand by Month Aug-10 vs. Aug-11: The number of for sale properties is down 7% and the number of sold properties is down 27%

Aug-10 vs. Aug-11 FOR SALE Aug-10 Aug-11 Change % 245 229 -16 -7% Aug-10 vs. Aug-11 SOLD Aug-10 Aug-11 Change % 41 30 -11 -27%

South Fremont includes the prestigious Mission San Jose area, Weibel area, and Warm Springs area. It's been very desirable among home buyers for its good schools and convenient location to the Silicon Valley. However, it cannot escape the current downbeat of housing market. Demand has declined by 27% from a year ago whereas supply has lowered by only 7%. Therefore, it's no wonder that median sale price has decreased by 10%. However, home sellers are not realizing the reality yet and still demand 8% higher asking price compared to last year.

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