September 2026 Market Update

The September 2026 market update for Santa Clara County shows a market that remains competitive, particularly for single-family homes, while offering more balanced conditions in the condo and townhome segment. Home prices have declined year over year, while days on market have remained steady. With single-family inventory at 2.0 months and condos and townhomes at 3.4 months, buyers have more options in the attached-home market, while well-priced homes continue to attract strong demand.

Price Trends Show Mixed Performance

Santa Clara County

• Single-Family Homes: Median sales price decreased to $1.85M in August 2026, down from $1.88M in August 2025, reflecting a modest year-over-year price adjustment.
• Condos & Townhomes: Median sales price declined to $849K, down from $930K last year, signaling softer pricing and greater opportunities for buyers in the attached-home market.

Homes Are Selling at a Steady Pace

Santa Clara County

• Single-Family Homes: Average days on market remained at 26 days, unchanged from last year, showing that buyer demand continues to support a relatively quick sales pace.
• Condos & Townhomes: Market time also remained steady at 40 days, unchanged from August 2025, giving buyers a consistent amount of time to evaluate available properties.

Overbidding Has Strengthened

Santa Clara County

• Single-Family Homes: Homes are selling at 102.8% of list price, up from 102.2% last year, showing continued competition and strong demand for well-priced properties.
• Condos & Townhomes: Sales are averaging 100.4% of list price, slightly up from 100.3% a year ago, indicating that buyers continue to compete for desirable attached homes.

Inventory Reflects a More Balanced Market

Santa Clara County

• Single-Family Homes: Inventory stands at 2.0 months, pointing to a competitive market where buyer demand continues to outpace available supply.
• Condos & Townhomes: Inventory has reached 3.4 months, giving buyers more options and slightly greater negotiating flexibility than in the single-family market.

What This Means for You

Sellers

• Single-family homes remain competitive: Homes are selling at 102.8% of list price and averaging 26 DOM, so strategic pricing and strong presentation remain essential.
• Condos need strong positioning: With 40 DOM and a 100.4% sale-to-list ratio, polished marketing and staging can help listings stand out.
• Well-priced homes continue to attract buyers: Despite year-over-year price declines, strong sale-to-list ratios show that properly priced homes can still generate competitive interest.

Buyers

• A steady pace of sales: Market times remain at 26 DOM for single-family homes and 40 DOM for condos and townhomes, indicating a consistent pace of activity.
• More flexibility in the attached-home market: With 3.4 months of condo and townhome inventory, buyers have more choices and slightly greater negotiating power.
• Competitive conditions remain for single-family homes: With only 2.0 months of inventory and homes selling at 102.8% of list price, buyers should be prepared to act decisively and submit competitive offers on desirable properties.