House prices go up in Irvington, go down in Mission

Fiona Zhao, Staff Writer

Over the past year, recent trends in housing retail indicate that home sales are increasing in the Irvington area, but decreasing in the Mission San Jose area. Though not commonly acknowledged, analyzing rises and falls of housing trends is an effective method to gauge and speculate changes within the community..

In California – notorious for its sky-high prices – the median home value is around $469,300, or more than two and a half times that of the national average. Yet according to Zillow, a popular online real estate database, the average house price in Irvington is $850,400,  nearly two-fold the high state average, and $1,382,300 in Mission San Jose.

During late 2015 and early 2016, Mission saw a decrease of $215,000, or 17%, in home sales. On the flip side, Irvington’s home sales have increased by 3%, or roughly $22,500 in the same time period.

Factors often attributed to a home’s value include the individual home’s features and overall condition, yet a home’s location, including proximity to public facilities, demographics, and median household income, arguably plays a much larger role. Irvington and Mission San Jose high schools both have critically acclaimed faculties and student bodies with graduation rates of 94% and 98%, respectively, that are far higher than the state and even FUSD average.

Although both areas have seen a major rise in overall sales over the past decade, Mission’s recent drop is not due to its nearby school or median household income of $147,491, but because the average price of nearly $1.4 million is simply far too expensive for even those working in Silicon Valley, especially since most homes’ condition and quality do not surpass that of in other areas within Fremont.

“People in Silicon Valley make more money and are willing to spend more money,” sophomore Celine Young said. “But [the prices are] still ridiculous.”

Meanwhile, Irvington’s increase in home sales point that despite the expensive prices, more are willing to move into Fremont.