Santa Clara County (SCC): Home Prices Up Sales Down in July
The median sales price for single-family, re-sale homes was up 2.6% compared to last year.
The average sales price for single-family, re-sale homes was up 7.3% year-over-year. The average sales price was $2,444,590.
Sales of single-family, re-sale homes were down 3.8%, year-over-year. There were 636 homes sold in Santa Clara County last month. The monthly average since 2000 is 987.
The sales price to list price ratio fell from 103.3% to 102.4%.
Pending sales were down 13.8% year-over-year. There are 492 homes in escrow.
Inventory of single-family, re-sale homes was down 0.9% compared to last year. As of August 5th, there were 897 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, rose from 35 days to 42 days. The average since 2003 is 89.
It took twenty-seven 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.
The median sales price for condos fell 8.7% compared to last year. The average sales price fell 5.2% year-over-year. The average sales price was $1,010,060.
Condo sales were up 4.8%. There were 263 condos sold in June.
The sales price to list price ratio rose from 100.3% to 100.7%.
Pending sales were up 3% year-over-year. There are 272 condos in escrow.
Condo inventory was up 9% compared to last year.
As of August 5th, there were 701 condos for sale in Santa Clara County. The average since January 2000 is 757.
Days of inventory rose from seventy-eight to eighty.
It took an average of thirty-nine days to sell a condo last month.
If you are planning on selling your property, call me for a free comparative market analysis.
July 2026 Sales Statistics (SCC)
* Total inventory is active listings plus pending listings. Active listings do not include 
pending.
More information is available in our on-line report at http://avi.rereport.com/market_reports
Divided, Fed Stands Pat (SCC & SMC)
July 31, 2026 — The Federal Reserve made no move at its July FOMC meeting this week, but that doesn’t mean that interest rates aren’t moving. They are, and at least for longer-term interest rates, the direction is up.
That’s certainly not what folks looking to buy homes or refinance want to hear, but the Fed doesn’t have direct control over anything beyond a few key short-term monetary policy rates, such as the federal funds rate, discount window borrowing rate and the interest rate it pays banks to park reserves with the central bank. All others are dictated by investors.
That the Fed did not increase the rates it controls appeared to disappoint the bond market, who seem to be questioning the Fed’s resolve to get inflation under control and headed back down toward target. The longest of the long bonds — 30-year Treasuries — surged higher after the meeting, and is currently perched near 19-year highs. This move also helped push up the yield on the influential 10-year Treasury, and this will translate into firmer 30-year fixed mortgage rates, which are already at about a one-year high.
Although the top-line GDP number for the second quarter didn’t show it, the economy is doing okay. The 1.5% growth rate for the period came in rather lower than expected, but a fair bit of the decrease was due to the impact of a surge of imports during the period and a drawdown in inventory levels, both which subtract from the growth calculation. Overall consumption picked up considerably, posting its strongest rate since last year’s third quarter, so the consumer held up pretty well. Fixed investment also contributed at a solid pace — even residential investment, which had shrunk for five consecutive quarters. Price pressures for the period were mixed; overall PCE rose from 4.6% in the first quarter to 5.1% in the second, driven by higher energy costs. Absent those (and food costs) core PCE for the three months ended June actually retreated a fair bit, falling from 4.4% in the first quarter to 3.4% for the second.
Unfortunately, market-based yields are what moves mortgage rates, and the move at the moment is an upward one. Already at a year’s high or more, mortgage rates seem poised to trend higher again next week, but perhaps just a little, at least based on how bond yields closed the week. Amid the typical first-week-of-the-month cascade of fresh economic data, we think that the average offered rate for a conforming 30-year fixed-rate mortgage as reported by Freddie Mac may rise 2 to four basis points.
Call or email me if you have any questions.
For further details and a city-by-city breakdown statistics, go to http://avi.rereport.com/market_reports.
Real estate related Articles
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| WOLF STREER 7-24-2026 | New Single-Family Home Prices Drop Further amid Declining Sales and once again Growing Inventory Glut By Wolf Richter |
| WOLF STREER 7-9-2026 | |
| WSJ 6-20-2026 | See How Owning a Home Is Getting More Expensive in Every Way |
California homeowners interested in building accessory dwelling units on their property just caught a break, potentially shaving off thousands of dollars in fees and permits.
In a move proponents say will help ease the Bay Area’s housing crisis, Gov. Jerry Brown on Tuesday signed Senate Bill 1069, making the so-called “granny units” easier and less expensive to build throughout the state.
For more read California eases restrictions on ‘granny units’ and http://www.hcd.ca.gov/policy-research/AccessoryDwellingUnits.shtml
Helpful resource for home owners
Many new home owners or owners who consider remodeling or rebuilding their homes should take advantage of their county Tax Assessor web site. These web site and their respective city building departments web site typically have vest information regarding the process for applying for permits, the impact on their taxes and many other resources that home owners should be aware are available for them.
For the San Mateo County Tax Assessor office visit http://www.smcare.org/default.asp
For Santa Clara County Tax Assessor visit https://www.sccassessor.org/index.php
The Silicon Valley 150 Index Corner
The Silicon Valley’s Real estate market is a derivative of the local economy–it prospers and withers depending on how well the local innovation-based sector performs. The San Jose Mercury News tracks the performances of the largest 150 publicly traded companies headquartered in Silicon Valley through an index called the SV150, which may be found at www.mercurynews.com. Stocks are valued based on several criteria, but one of the more important criteria is a company’s future earnings. Therefore, I see the SV150 as a leading indicator for Silicon Valley’s real estate market.
Investors Corner
NEW YORK, June 30, 2026: S&P Dow Jones Indices (S&P DJI) today released the April 2026 results for the S&P Cotality Case-Shiller Indices
- The S&P Cotality Case-Shiller U.S. National Home Price NSA Index posted a 1.1% annual gain
for May 2026, up from a 0.9% rise in the previous month. - For the 12th consecutive month, U.S. home values fell in real terms, as May’s 4.2% inflation ran
roughly 3 percentage points above the 1.1% home price gain. - A nearly 9 percentage-point gap separated May’s strongest market
- For more info CLICK HERE
U.S. Housing Markets Moving Into Rent Territory for First Time in Over 8 Years: Report
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San Mateo County (SMC): Home Prices & Sales Up in July
Sales of single-family, re-sale homes in San Mateo County rose 1% in July, year-over-year. There were 305 homes sold in San Mateo County last month. The average since 2000 is 398.
The median sales price for single-family, re-sale homes was $2,200,000. It was up 7.2% compared to last year.
The average sales price rose 15.1% year-over-year.
The sales price to list price ratio fell from 106.5% to 106.3%.
Inventory of single-family, re-sale homes was down 22.9% compared to last year. As of August 5th, there were 316 homes for sale in San Mateo County. The average since January 2000 is 1,287.
Days of Inventory, or the amount of time it would take to sell all homes for sale divided by how many homes have sold, rose four days to thirty-one days.
It took twenty-four days, on average, to sell a home last month. That is the time from when a home is listed to when it goes into contract.
The median sales price for re-sale condos was up 1.2% year-over-year.
Year-over-year, the average sales price was down 6.4%.
Condo sales were up 11.8% year-over-year. There were 85 condos sold last month. The average since January 2003 is 122.
Inventory was down 17.9% year-over-year.
As of August 5th, there were 188 condos for sale in San Mateo County. The average since January 2003 is 350.
Days of inventory fell from seventy-three to sixty.
It took an average of forty-six days to sell a condo last month.
If you are planning on selling your property, call me for a free comparative market analysis.
Also, if you would like to know what’s going on in your neighborhood, go to my on-line report and create a Recent Sales & Listings report.
July 2026 Sales Statistics (SMC)
* Total inventory is active listings plus pending listings. Active listings do not include pending.
You can get more information at: http://avi.rereport.com/market_reports
Call or email me if you have any questions.
For further details and a city-by-city breakdown statistics, go to http://avi.rereport.com/market_reports.