Santa Clara County (SCC): Home Prices & Sales Down in June
The median sales price for single-family, re-sale homes was down 9.3% compared to last year.
The average sales price for single-family, re-sale homes was down 1.4% year-over-year. The average sales price was $2,509,320.
Sales of single-family, re-sale homes were down 1.2%, year-over-year. There were 738 homes sold in Santa Clara County last month. The monthly average since 2000 is 987.
The sales price to list price ratio fell from 104.6% to 103.3%.
Pending sales were down 2% year-over-year. There are 392 homes in escrow.
Inventory of single-family, re-sale homes was down 11% compared to last year. As of July 5th, there were 900 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 43 days to 35 days. The average since 2003 is 89.
It took twenty-two 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 4.8% compared to last year. The average sales price fell 4.9% year-over-year. The average sales price was $1,027,980.
Condo sales were down 3.9%. There were 272 condos sold in June.
The sales price to list price ratio fell from 101.2% to 100.3%.
Pending sales were up 10.6% year-over-year. There are 272 condos in escrow.
Condo inventory was up 6.9% compared to last year.
As of July 5th, there were 733 condos for sale in Santa Clara County. The average since January 2000 is 757.
Days of inventory rose from seventy-seven to seventy-eight.
It took an average of thirty-four days to sell a condo last month.
If you are planning on selling your property, call me for a free comparative market analysis.
June 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
Changing Communications (SCC & SMC)
June 26, 2026 –It’s hard to believe that half of 2026 has already gone by, but here we are. Certainly, things have changed this year in unexpected ways, what with the outbreak of military activity in the middle east, inflation moving in the wrong direction and interest rates generally firming over the last six months. Also, we have a new Fed Chair in town, one who came in with an appreciably more hawkish stance than was expected, Investor hopes for cuts in interest rates at the beginning of the year have now swung fully around, with rate hikes at some point now a possibility.
Outside of extraordinary measures such as MBS buying, the Fed has little direct impact on fixed mortgage rates. With Mr. Warsh said to be looking to find new ways to reduce the Fed’s existing balance sheet, that avenue is likely closed unless some significant new crisis should emerge. For folks hoping for lower mortgage rates, the best thing the Fed can do is get inflation heading back in the right direction. It’s worth considering that 30-year fixed-rate mortgage rates drifted to about three-and-a-half-year lows earlier this spring, when inflation was cooler and prospects for further declines at least reasonable. Neither is currently the case, and of course this has had implications for the housing market.
Sales of new homes have slumped this spring. The Census Bureau reported that the annualized rate of new home sales declined 7.3% in May, landing at a 580,000 pace, the second slowest rate of sale in about three and a half years and the weakest may since 2016. All of the decline came from sales in the western region of the country. Slack sales boosted inventories of homes for sale; at 10.3 months of supply at the present rate of sales, builders have already throttled back on construction activity, something we saw just a week ago in the 15.4% month-to-month decline in May housing starts. It may be that the seasonal upturn in home prices has deterred borrowers, as the median price of a new home sold was 2% higher in May than April, rising to $424,900 last month. although this is virtually unchanged from a year ago. After new home prices touched that 2025 peak last May, they retreated a bit, so perhaps potential buyers are hoping that will be the case again this year.
Applications for mortgage credit also reflect soft demand. The Mortgage Bankers Association reported just a 1% increase in requests for mortgages in the week ending June 19. A 0.6% decline in applications for funds to purchase homes tempered the top-line figure, which was lifted by a 3% increase in requests for loans to replace existing mortgages. Mortgage applications have been mostly ebbing and flowing along with mortgage rates since March, all the while running at a pretty low level overall over that time.
We don’t expect to see much by way of a big change in mortgage rates next week, but there is a chance they can drift slightly lower, provided the drop in yields from Wednesday’s bond market rally can most hold for another day or so. As such, we think that we’ll see a 4-6 basis point decline in the average offered interest rate for a conforming 30-year fixed-rate mortgage as tracked by Freddie Mac when they report again on Thursday. After that, the second half of 2026 kicks in, and no one knows what surprises that may bring.
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
| WOLF STREER 7-9-2026 | ||
| WSJ 6-20-2026 |
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| WOLF STREER 6-9-2026 | By Wolf Richter | |
| WOLF STREER 6-3-2026 | Housing Market’s Crucial “Spring Selling Season” Winds Down with a Whimper. So Maybe Next Year? By Wolf Richter |
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 0.8% annual gain for April 2026, up from a 0.7% rise in the previous month.
- For the 11th consecutive month, U.S. home values fell in real terms, as April’s 3.8% inflation ran roughly 3 percentage points above the 0.8% home price gain.
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 June
Sales of single-family, re-sale homes in San Mateo County rose 21% in June, year-over-year. There were 363 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 $2,325,000. It was up 8.1% compared to last year.
The average sales price rose 4.6% year-over-year.
The sales price to list price ratio fell from 107% to 106.5%.
Inventory of single-family, re-sale homes was down 25.5% compared to last year. As of July 5th, there were 341 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, fell ten days to twenty-seven days.
It took twenty 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 11.6% year-over-year.
Year-over-year, the average sales price was up 9.8%.
Condo sales were up 4% year-over-year. There were 78 condos sold last month. The average since January 2003 is 122.
Inventory was down 18.6% year-over-year.
As of July 5th, there were 197 condos for sale in San Mateo County. The average since January 2003 is 350.
Days of inventory fell from seventy-eight to seventy-three.
It took an average of thirty-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.
June 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.