The Santa Clara County real estate market for single family homes was mixed in September, with some data points strengthening and others weakening. This is similar to what we saw in August.

For condo buyers, almost every statistic points to a cooler market.

 

The Santa Clara County real estate market brief points for single family homes

Here’s a quick summary based on the numbers that I pulled from the MLS directly today. These are a little different from the RE Report numbers.

• Home sales are up, but inventory is up MORE, with the result being slightly longer days on market and a longer months of inventory.
• Home prices, both average and median, were DOWN year over year, but up month over month. (Usually we care more about the annual figure because seasonal patterns can cause the monthly changes.)

Santa Clara County real estate statistics for September 2026 from the RE Report

Here’s the Trends at a Glance table for the Santa Clara County real estate market by home type from our RE Report subscription.

Please keep in mind that these numbers ONLY reflect listings that were entered into the MLS Listings system, and they do not include Bay East, CRMLS, SFAR, or other MLS companies around the state. If it’s not listed in an MLS with a data sharing program, it will not be represented here. The data is off, so some of the stats don’t align with those that I pull from the MLS, but the trends are on target, generally.

 

 

Please note: for all of the multi year images below, you can see a larger version by clicking on them and a popup with the largest version will be displayed.

Santa Clara County real estate market statistics for SFH

Below please find multi year data charts for Santa Clara County real estate market (single family homes) were pulled by me directly from the MLS. These numbers are a little more accurate than the RE Report ones as they include all listings on the MLS, even if they were entered from a different MLS organization.

Inventory

The Santa Clara County real estate market’s inventory rose in September and is far higher than what we normally see then, hence the red star.

 

 

Months of Inventory

The absorption rate or months of inventory remained flat compared to August and again elevated compared to the same month in 2025. This is “seller’s market” territory, but more of a mild seller’s market (and for what we are used to, it is approaching more like a balanced market). As you scan other recent Septembers, none of them is this high.

 

Days to Sell

The days to sell grew again. If it were monthly only, we’d chalk it up to seasonality. But it’s not normal for September. Among recent Septembers, only 2022 was this high.

 

Average Sale Price

The average sale price rose monthly, but fell annually. It’s not that common see see annual price declines, and it’s worth paying attention when it happens.

A reminder that this reflects the whole county, and some areas and price points are much hotter than others. Cupertino, Palo Alto, Mountain View, Los Altos and a few other areas are at the hot end of the scale.

 

 

Median Sale Price

The median sale price is off year over year but again up month over month. This marks two months in a row of falling annual values, and the 6th month in 2026 with lower values from the year before, and it’s a little concerning.

 

 

Sale to List Price Ratio

The sale to list price ratio rose month over month and year over year, as it did last month. While not every home is selling fast, the homes that are selling are doing quite well on average. If we were to divide the Santa Clara County real estate market by location or price point (or age / newness of remodeling), we’d see quite a divergence from one set to the next.

 

 

Average Price per Square Foot

The average price per square foot also rose monthly and annually.

 

 

Santa Clara County Real Estate Market’s Number of Sales

The number of sales grew month over month and year over year. (Pending sales are also up.) They aren’t growing as fast as inventory, though.

 

 

RE Report Market Commentary: Home Prices Down in September

 

 

The median sales price for single-family, re-sale homes was down 1.5% compared to last year.

The average sales price for single-family, re-sale homes was down 0.6% year-over-year. The average sales price was $2,473,200.

Sales of single-family, re-sale homes were down 0.3%, year-over-year. (*MPH Note: the data that I pulled shows that sales were slightly UP from a year ago, but not by a huge margin.) This is the fourth month in a row home sales have been lower than the year before. There were 644 homes sold in Santa Clara County last month. The monthly average since 2000 is 987.

The sales price to list price ratio rose from 102.9% to 103.6%.

Pending sales were down 8.5% year-over-year. There are 546 homes in escrow.

Inventory of single-family, re-sale homes was up 18.6% compared to last year. As of October 5th, there were 993 homes for sale in Santa Clara County. The average since January 2000 is 2,703.

Days of Inventory, or how long it would take to sell all homes listed for sale at the current rate of sales, fell from 48 days to 45 days. The average since 2003 is 89.

It took twenty-six days to sell a home last month. That is the time from when a home is listed for sale to when it goes into contract.

 

Condominium and Townhouse Market

MPH note: This has been a MUCH tougher market all year for the condo and townhouse market, and it’s going to get more difficult soon as condo HOAs will need 15% in reserves rather than 10% for units there to qualify for conforming loans. I believe that this applies as of January 1, 2027.

 

The median sales price for condos fell 8.1% compared to last year. The average sales price fell 9.3% year-over-year. The average sales price was $976,884.

Condo sales were down 9.4%. There were 232 condos sold last month.

The sales price to list price ratio fell from 100.4% to 100.1%.

Pending sales were up 10.9% year-over-year. There are 274 condos in escrow.

Condo inventory was up 17.9% compared to last year.

As of October 5th, there were 711 condos for sale in Santa Clara County. The average since January 2000 is 757.

Days of inventory rose from eighty-one to eighty-nine.

It took an average of thirty-nine days to sell a condo last month.

 

Santa Clara County Real Estate Market: What we’re seeing & hearing

September

• In September we put a cute Blossom Valley house on the market and it sold in 7 days with multiple offers. It will close escrow later this month. If curious, you can check it out at https://6307BenzoDr.com/
• Our sale in Mountain View with Cupertino schools (1068 Rose Ave.) closed in September and had a rentback until a few days ago.
• We are continuing to market our two active Cambrian listings, 1296DentwoodDr.com and  4996Agape.com. We’ll have Dentwood open this Saturday from 2-4 p.m.. Please stop by! More details below.
• Many of our buyers are “taking a break” for one reason or another. Interest rates, layoffs, and uncertainties seem to be the main reasons why many are holding off for the moment.
• Generally, the market remains hot in places with top rated schools that are close to tech employment centers, especially Meta, Google, and Apple – Cupertino, Mountain View, Palo Alto, Sunnyvale, and sometimes a little further out like Saratoga or Los Gatos. Overall, though, the buyers with larger budgets want top schools, homes in perfect condition (remodeled in recent years), and short commutes. Those properties continue to get multiple offers.
• Buyers are being VERY selective right now and homes that are further out, or need updating, or have any kind of a location challenge – in other words, many or most Silicon Valley homes – are having a harder time selling. With interest rates over 7%, buyers are not buying unless the home feels like a perfect fit, and even then perhaps only if it’s a “good deal” outside of those hot, high end areas.

 

Wishing you all a Spook-tacular Halloween!

All the best,

Mary & Clair

PS – A quick word about our two active listings, which are both incredibly good values!

1296 Dentwood Drive, San Jose 95118 
Open this Saturday, Oct 10, 2 – 4 pm

Spacious home on HUGE pie-shaped lot!
Great value at $1,999,000

Opportunity knocks! Situated in the Cambrian area of San Jose, this house has room for everyone with 4 bedrooms, 2.5 bathrooms, 2031 SF of living space, 10,430 SF lot with enormous backyard and room to add on or build an ADU. The house features a remodeled kitchen, updated bathrooms, dual pane windows, vaulted ceiling in the living room, and loads of natural light throughout the home. The yard includes a large, attractive pool, a separate hot tub, space for an RV, and a good sized lawn. So many possibilities! This is a convenient area close to schools, shopping, dining, and commute routes. Cul-de-sac location! Please check out the photos, floor plan, and all info at the virtual tour: 1296DentwoodDr.com.

4996 Agape Court, San Jose 95124

Great price in 95124 at $1,475,000

Bright, younger Cambrian single family home (1996) with 3 beds, 2.5 baths, 1644 SF of living space, 2,346 SF lot, 2 car garage,  vaulted ceilings, large dual pane windows, fabulous schools (Lietz, Dartmouth, Branham) in the small Soterion community. HOA dues are just $65 per month, and the HOA manages the front yards! Ultra convenient location close to shopping, dining, schools, commute routes, and even a nearby corporate shuttle stop is just a couple of blocks away! A pedestrian gate to Massidda Court is great for strolling to neighborhood amenities such as the J & P Cosentino farmstead, a neighborhood treasure. This home provides a generously sized back patio. For those preferring a low maintenance home, this is a great fit! Check out all of the details at 4996Agape.com.