More choices for homebuyers are redefining the “seasonal” nature of residential real estate in the Tri-Cities.
“I’m really looking forward to a stronger market in 2025,” said Erica Starkey, REALTOR® and Chair of the Tri-Cities Marketing Council (TCMC). “As we move away from the interest rate conversations and the election, things that affect our industry, I’m optimistic we’ll see the market pick up.”
TCMC is a networking group of real estate professionals who meet weekly in Fremont and have their fingertips on the pulse of the Tri-Cities housing market.
Historically, spring and summer are the busiest times of year in real estate, but buyers and sellers appear to be entering the market much earlier. Although January is usually one of the slowest months of the year with fewer homes for sale, sellers are putting their homes on the market earlier this year and buyers are no longer waiting around for the “right time to buy.”
“There seems to be a feeling of acceptance in the atmosphere when it comes to interest rates,” said Starkey. “It doesn’t mean buyers like the rates they’re getting, but they’re definitely more accepting with the hope they’ll be able to refinance in the future.”
Sellers kicked off 2025 early. As a result, buyers had more choices. There were 42 homes on the market in Fremont during January 2025 compared with 34 a year earlier. In Newark it was 14 compared with six during 2024, and Union City had 19 compared with seven.
Although supply is not as limited as in previous years, prices are still high. Starkey said buyers are more savvy and maybe even more weary than before. “They’re not willing to just throw money at things, but the good thing about this market is it’s so diverse not only in property type but also property price.”
The median sales price for a single-family detached home in Fremont increased 12% from $1.56 million during January 2024 to $1.74 million during January 2025. Prices in Newark actually dropped from $1.72 million to $1.48 million, while prices in Union City increased 17% from $1.25 million to $1.46 million.
Not only are buyers and sellers in the market early, but they are also both moving quickly. The average number of days a single-family detached home was on the market in Fremont was nine during January 2025 compared to 13 days during January 2024. In Newark, it was 11 days compared to 33 days during last January. In Union City, it was also 11 days which was a decrease from 19 days during January 2024.
Starkey mentioned the proximity to Silicon Valley and San Francisco make the Tri-Cities a very desirable market to live in, so it’s not necessarily an area where sellers are waiting around to put their homes on the market.
She shared that buyers and sellers will always come across challenges, but there’s an immense amount of opportunity running parallel to those challenges and that should be a focus for both buyers and sellers in the Tri-Cities.
