In California’s current housing climate, the idea of “affordable” is evolving quickly. A look at three distinct markets, Fremont in the Bay Area, Livermore in the Tri-Valley, and Covina in Greater Los Angeles, shows how varied affordability can be across the state. Each market tells its own story through home prices, days on market, and year-over-year trends, highlighting where buyers can find value in an increasingly expensive market.
Fremont: Expensive, with Early Signs of Cooling
Fremont remains one of the more expensive markets in the Bay Area, with a median home price of $1,434,000. However, compared with neighboring cities like San Jose or Palo Alto, it is relatively affordable for buyers seeking quality homes in the region. Prices have dipped by 3.1% year-over-year, and the price per square foot ($917) is also slightly down from last year.
From a relative affordability standpoint, Fremont offers a chance for Bay Area buyers to enter a strong market without the extreme premiums seen in the state’s most expensive cities. While competition remains, the modest price softening suggests that motivated buyers could find opportunities in desirable neighborhoods.
Explore houses for sale in Fremont, where opportunity meets lifestyle.
Livermore: More Room to Breathe in the Tri-Valley
Heading east into the Tri-Valley, Livermore presents a slightly more approachable market. The median sale price across all home types is $1,007,500, down by 7.4% year-over-year. Homes now spend an average of 35 days on the market, and the price per square foot is $652, an 8% decline from last year.
Livermore offers lower prices than Fremont, though still firmly in the million-dollar range. The larger price drop and longer market time suggest the market is cooling, giving buyers additional time to evaluate options. From a relative affordability perspective, Livermore provides a bit more breathing room for those looking to balance cost with access to Bay Area amenities.
Browse homes for sale in Livermore on Houzeo, America’s best real estate app. You can compare trends, shortlist top picks, and submit offers, all from your phone.
Covina: Slower Pace, Lower Prices, and More Flexibility
Moving into the Greater Los Angeles area, Covina presents an even more accessible housing market. The median home price here is $832,500, up 4.1% year-over-year. The price per square foot comes in at $499, down 7.9% from the previous year. Moreover, homes spend an average of 54 days on the market, compared to 38 days the year before.
Covina offers a significantly lower price point compared to Fremont and Livermore, making it a relatively more affordable option for Southern California buyers. The slower market pace means homes take longer to sell, which gives buyers extra time to explore options and negotiate effectively. For those looking to move to the Los Angeles region, Covina is a reasonable choice.
Discover homes for sale in Covina on Houzeo, America’s best home buying website. You can customize your search, save your favorite homes and schedule showings, all on one easy-to-use platform.
6 Tips for Home Buyers and Investors
The latest data on Fremont, Livermore, and Covina highlights how each market behaves, and what matters most when evaluating timing and affordability. Here’s what you need to know:
- Interest Rates Shape Real Affordability: Even as prices shift, the true cost of ownership depends heavily on mortgage rates. A million-dollar home financed at a higher rate can cost far more each month than a slightly cheaper home bought when rates were lower. So, watching borrowing trends is just as important as tracking price movements.
- Time on Market Can Work to a Buyer’s Advantage: In areas like Livermore and Covina, where listings tend to stay on the market longer, buyers have more time to negotiate and explore their options. In faster-paced markets like Fremont, however, speed and preparation are key, and having strong financing and being ready to act can make all the difference in securing a home.
- Price Per Square Foot Reveals Value Differences: Covina’s average of $499 per square foot offers more space for the price, while Fremont’s $917 reflects the premium attached to its location and proximity to tech corridors. Livermore sits in between, providing a balance of size and accessibility. Still, square footage alone doesn’t define value; factors like commute times, amenities, and neighborhood quality remain crucial.
- Local Dynamics Tell Distinct Stories: Livermore’s price declines suggest a cooling market and potential entry points for buyers. Fremont’s relatively stable prices reflect strong, lasting demand and limited inventory. Covina’s gradual growth indicates steady buyer interest without the sharp spikes seen in parts of the Bay Area. Each city moves to its own rhythm, shaped by jobs, infrastructure, and regional economics.
- Entry-Level vs. Upgrade Potential Differs by Market: Covina appeals to first-time buyers and investors looking for manageable entry costs. Fremont caters to those seeking higher-end homes near major employment hubs. Livermore offers a middle ground: slightly lower prices than Fremont while maintaining Bay Area connections and solid long-term fundamentals.
- Risk and Reward Vary Across Regions: Markets with recent declines, such as Livermore, carry some uncertainty but could offer upside if conditions stabilize. Fremont’s steadiness points to lower volatility, though at a higher upfront cost. Covina’s moderate growth reflects a balanced market, with healthy demand and less extreme pricing pressure.
Navigating California’s Evolving Real Estate Market
Affordability in California remains a moving target, influenced by local economies, supply constraints, and national financial conditions. Fremont’s median price of around $1.43 million keeps it at the top end of the scale, while Livermore’s $1.01 million median offers a modest reduction without leaving the high-price bracket. Covina, at about $832,500, presents a more approachable threshold but still sits far above national averages.
Each of these cities represents a different side of California’s housing landscape: Fremont with its competitive, tech-centered demand; Livermore with its transitional cooling; and Covina with its steadier, more measured growth.
In today’s market, clarity and strategy matter more than ever. Understanding how price, pace, and long-term value interact allows both buyers and investors to make informed decisions. While none of these markets can be called “affordable” in a traditional sense, each offers its own version of opportunity, shaped by timing, budget, and vision for the years ahead.