Santa Clara County (SCC): Home Prices & Sales Down in January
The median sales price for single-family, re-sale homes was down 4.9% compared to last year.
The average sales price for single-family, re-sale homes was down 2.7% year-over-year. The average sales price was $2,216,780.
Sales of single-family, re-sale homes were down 16.6%, year-over-year. There were 256 homes sold in Santa Clara County last month. The monthly average since 2000 is 987.
The sales price to list price ratio rose from 103.1% to 103.4%.
Pending sales were up 7.4% year-over-year. There are 365 homes in escrow.
Inventory of single-family, re-sale homes was up 23.8% compared to last year. As of February 5th, there were 505 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 21 days to 59 days. The average since 2003 is 89.
It took thirty-four 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 was down 2% compared to last year. The median sales price was $896,944. The average sales price fell 4.9% year-over-year. The average sales price was $999,106.
Condo sales were down 11.1%. There were 136 condos sold in January.
The sales price to list price ratio fell from 100.3% to 100%.
Pending sales were up 11.9% year-over-year. There are 235 condos in escrow.
Condo inventory was up 32.9% compared to last year.
As of February 5th, there were 456 condos for sale in Santa Clara County. The average since January 2000 is 757.
Days of inventory rose from forty-four to one hundred and one.
It took an average of sixty days to sell a condo last month.
If you are planning on selling your property, call me for a free comparative market analysis.
January 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
Standing Pat For Now (SCC & SMC)
January 30, 2026 —The Federal Reserve held its first Open Market Committee meeting of 2026 this week, making no change to monetary policy. The non-move was widely expected. What was expected was that there would be dissent no matter what the Committee decided to do, just as there has been at each of the last three policy-setting get-togethers. As expected, Governor Stephen Miran preferred another quarter-point cut in rates at this meeting, as did then-Chair-candidate Christopher Waller, but the 10-2 majority favored standing pat.
With the economy “expanding at a solid pace” per the meeting-closing statement and the unemployment rate showing some “signs of stabilization”, the Fed saw no urgent need to continue to trim rates, especially as it continues to characterize inflation as “somewhat elevated.” There currently are few overt signs that monetary policy is even modestly restrictive, but to the extent that it is, the Fed’s current stance should help attenuate price pressures over time, if gradually.
The Mortgage Bankers Association reported a 8.5% decline in applications for mortgages in the week ending January 23, with the top-line figure dragged backward by a 0.4% decline in applications for funds to purchase homes accompanied by a 15.7% drop in those to refinance existing mortgages. Now past the typical early-year release of pent-up demand, getting mortgage activity moving will depend on the start of the homebuying season, absent some unexpected drop in mortgage rates in the next little while.
Despite some turbulence in bonds, mortgage rates have been very well behaved in recent weeks, edging upward only slightly and holding just above about 3.5-year lows. If rates can maintain these levels, it would be a relatively positive happenstance for the early spring housing season, providing potential homebuyers with the least costly mortgage rates since 2022.
Like the Fed, mortgage rates don’t seem inclined to move much anytime soon, but there’s a fair bit of market-moving data being released next week, including the twin ISM reports (manufacturing and service business activity), the Job Openings and Labor Turnover Survey for December and of course the Employment Situation report for January, among other items. As well, we’ll need to see about the effects of any new partial government shutdown (should it come). Still, based on where things are at the moment, we think there will be little change in the average offered rate for a conforming 30-year fixed-rate mortgage as reported by Freddie Mac next week. Something on the order of no change to perhaps a two basis point decline seems likely.
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.
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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
S&P CoreLogic Case-Shiller Index Records Annua Gain in September 2025
- The S&P Cotality Case-Shiller U.S. National Home Price NSA Index posted a 1.3% annual gain for September, down from a 1.4% rise in the previous month.
- Inflation outpaced home prices for a fourth straight month, with September’s CPI running 1.7 percentage points above housing appreciation—the widest gap … For mor 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 January
Sales of single-family, re-sale homes in San Mateo County rose 13.3% in January, year-over-year. There were 136 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 $1,980,000. It was up 7% compared to last year.
The average sales price rose 18.5% year-over-year.
The sales price to list price ratio fell from 103% to 102.9%.
Inventory of single-family, re-sale homes was up 8.5% compared to last year. As of February 5th, there were 231 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 eighteen days to fifty-one days.
It took thirty-five 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 fell 2.2% year-over-year.
Year-over-year, the average sales price fell 0.7%.
Condo sales were up 25.7% year-over-year. There were 44 condos sold last month. The average since January 2003 is 122.
Inventory was up 2.9% year-over-year.
As of February 5th, there were 140 condos for sale in San Mateo County. The average since January 2003 is 350.
Days of inventory rose from forty-four to ninety-five.
It took an average of sixty-four 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.
January 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.