My guess is they didn’t get any offers near their target price so they changed it to reflect their desired amount.
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It is right next to highway ramp, not in good school district(8/6/6), in bad condition and its lot size is only 4300sqft.
Can it really get 1.23M?
Sometimes when we see this (relisting higher), it happens to end up to be the final sold price for some reason.
The elementary school is pretty good. Also, in Fremont elementary goes till 6th grade, so 7 out of 13 years of school.
good schools. Closer to south Bay.
These homes are practically in the water. They have almost zero yards, terrible schools, and surrounded by Newark which is considered lower end compared to Fremont. Price seems high to me.
https://www.redfin.com/CA/Newark/8529-Central-Ave-94560/home/147970455
Hmm seeing lots of homes in Fremont <$1M now 
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One off, however…Market rebounding?
https://www.redfin.com/CA/Fremont/34798-Locke-Ave-94555/home/1133546