Santa Clara County (SCC): Home Prices Mixed, Sales Up in May
The median sales price for single-family, re-sale homes was down 2.4% compared to last year.
The average sales price for single-family, re-sale homes was up 4.9% year-over-year. The average sales price was $2,647,510.
Sales of single-family, re-sale homes were up 7.1%, year-over-year. There were 750 homes sold in Santa Clara County last month. The monthly average since 2000 is 987.
The sales price to list price ratio fell from 105.4% to 104.6%.
Pending sales were down 4.5% year-over-year. There are 750 homes in escrow.
Inventory of single-family, re-sale homes was up 3.2% compared to last year. As of June 5th, there were 1,068 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 39 days to 43 days. The average since 2003 is 89.
It took eighteen 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 flat at $970,000 compared to last year. The average sales price fell 2.6% year-over-year. The average sales price was $1,047,920.
Condo sales were up 13.5%. There were 303 condos sold in April.
The sales price to list price ratio fell from 101.7% to 101.2%.
Pending sales were down 4.3% year-over-year. There are 286 condos in escrow.
Condo inventory was up 14.7% compared to last year.
As of June 5th, there were 773 condos for sale in Santa Clara County. The average since January 2000 is 757.
Days of inventory fell from seventy-eight to seventy-seven.
It took an average of thirty-one days to sell a condo last month.
If you are planning on selling your property, call me for a free comparative market analysis.
May 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
Hoping For Better (SCC & SMC)
May 29, 2026 —While there are signs that economic growth has picked up a bit in the early part of the second quarter, it won’t have to be all that strong to improve on the last couple of quarterly periods. The partial government shutdown crimped growth in the final quarter of 2025, leaving just a 0.48% annualized increase in Gross Domestic Product for the period. The reopening of the government was expected to boost growth to start 2026, and the initial report of a 1.99% pace for the first quarter seemed to bear out this expectation.
This week we learned that the jump to a modest pace of economic growth wasn’t as strong as originally reported, as revisions to GDP for the first quarter of 2026 left the gain for the period at only 1.62%. Muted growth for the period was accompanied by an acceleration in inflation, with overall Personal Consumption Expenditure (PCE) price increases for the period coming in at 4.6% (up from 2.9% in the prior quarter) and core PCE at a 4.4% pace, up from 2.7% at the close of 2025.
Current estimates of growth suggest an improvement will be seen in the second quarter. Running estimates of GDP growth for the period are presently pegged at 3.8% by the Federal Reserve Bank of Atlanta’s GDPNow model, and at 2.5% by the FRB/New York’s Nowcast model. Typically, strengthening growth is welcomed, but at a time when inflation is already running pretty warm and threatens to move higher still, any additional demand generated by an expanding economy may make it more difficult for price pressures to ease very quickly.
Sales of new homes were lackluster in April, managing just a tepid 622,000 annualized units sold. A 19,000 downward revision to March’s initially reported figure underscored the spring softness in new home sales. Even with builder incentives and subsidies to help prop up sales, higher mortgage rates last month certainly didn’t help, nor did the 8% increase in the median price of a new home sold during the month. At $422,500, the median selling price was also 2,2% higher than last April, so along with higher financing costs, potential buyers faced reduced affordability. The slide in new home sales also means builders are holding onto considerable inventory — about 9.4 months of supply is available at the present soft rate of sale.
With mortgage rates at about nine-month highs, it’s to be expected that few folks are jumping into the market for mortgages. The Mortgage Bankers Association reported that requests for mortgage credit shrank by 8.5% in the week ending May 22, pulled downward by an 18.1% decline in applications to refinance existing mortgages. Requests for funds to buy homes fared better but still drifted backward with a 0.4% decline for the week. By the MBA,s measure, refinancing activity has retreated to levels seen last August — the last time 30-year fixed mortgage rates were around present levels.
Like the consumers polled in the Consumer Confidence and Consumer Sentiment surveys, it’s hard to be enthusiastic about the current climate. The economy is trundling alone but feels like it’s in a low gear, equity market records notwithstanding. The labor market is fair enough, but hardly dynamic, and the stability there in some ways feels tenuous. Persistent inflation is draining resources, with elevated gasoline and food prices absorbing dollars at an uncomfortable pace. The housing market is stumbling along through another sluggish spring selling season, where it’s been a combination of old and new headwinds damping the market in each of the last few springs.
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
NEW YORK, May 26, 2026: S&P Dow Jones Indices (S&P DJI) today released the March 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 0.7% annual gain or March 2026, down from a 0.8% rise in the previous month.
- More than half of major U.S. metropolitan markets posted year-over-year price declines in March, with Seattle (-2.5%) displacing Denver as the weakest market and Chicago (6.1%)
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 May
Sales of single-family, re-sale homes in San Mateo County rose 0.6% in May, year-over-year. There were 310 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 $2,391,500. It was up 8.8% compared to last year.
The average sales price rose 15.8% year-over-year.
The sales price to list price ratio rose from 106.6% to 107%.
Inventory of single-family, re-sale homes was down 22.2% compared to last year. As of June 5th, there were 386 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 five days to thirty-seven days.
It took twenty-one 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 24.9% year-over-year.
Year-over-year, the average sales price was up 14.1%.
Condo sales were up 3.5% year-over-year. There were 88 condos sold last month. The average since January 2003 is 122.
Inventory was down 9.2% year-over-year.
As of June 5th, there were 228 condos for sale in San Mateo County. The average since January 2003 is 350.
Days of inventory rose from fifty-eight to seventy-eight.
It took an average of thirty-three 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.
May 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.