Santa Clara County (SCC): Home Prices & Sales Up in February
The median sales price for single-family, re-sale homes was up 1% compared to last year.
The average sales price for single-family, re-sale homes was up 4.8% year-over-year. The average sales price was $2,504,500.
Sales of single-family, re-sale homes were up 17.4%, year-over-year. There were 453 homes sold in Santa Clara County last month. The monthly average since 2000 is 987.
The sales price to list price ratio rose from 103.4% to 105.7%.
Pending sales were up 0.8% year-over-year. There are 520 homes in escrow.
Inventory of single-family, re-sale homes was up 13.4% compared to last year. As of March 5th, there were 670 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 59 days to 40 days. The average since 2003 is 89.
It took twenty-one 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 17.1% compared to last year. The median sales price was $955,000. The average sales price fell 8.8% year-over-year. The average sales price was $1,074,410.
Condo sales were up 5.5%. There were 230 condos sold in February.
The sales price to list price ratio rose from 100% to 102.8%.
Pending sales were down 6.6% year-over-year. There are 270 condos in escrow.
Condo inventory was up 27.4% compared to last year.
As of March 5th, there were 562 condos for sale in Santa Clara County. The average since January 2000 is 757.
Days of inventory fell from one hundred and one to sixty-six.
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.
If you are planning on selling your property, call me for a free comparative market analysis.
February 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
Subtle Difference, But Helpful (SCC & SMC)
February 27, 2026 —
About six bucks per month. That’s the difference in the principal and interest payment on a $300,000 mortgage with a 30-year term when the interest rate moves from 6.01% to 5.98%. Any homebuyer or homeowner will tell you that that’s not very much, but 30-year fixed mortgage rates starting with a “five handle” is something not seen since September 2022, so it’s a bit of an event.
On a time-reference measure, Freddie Mac’s average offered rate was already at its lowest point since September 15, 2022 when the week began — and this week’s slight decline of three basis points simply added one additional week, so September 8, 2022. This September 2022 reference will be a hard-stop place for some time — it’ll take an additional decline of 10 basis points to move the needle an additional week, and another 23 after that just to gain another.
Still, such a change in numeral and comparative time references are said to be “psychologically important”, even if their financial effect is limited. It’s worth considering how dismaying it seemed back in the week of September 15, 2022 when this mortgage rate climbed over the 6% mark for the first time in nearly 14 years; now, we’re welcoming it back. While it’s the same number, it’s certainly more comforting to hear that “rates are at more than three-year lows” than “rates now at nearly 14-year highs.”
In reality, 30-year fixed mortgage rates have been nearly stable for several months, first improving to about one-year lows last fall, then generally creeping lower since. That mortgage rates are headline-worthy — and in a good way — at the beginning of the spring homebuying season lends some hope that at least a modest upturn in sales this spring will come. As we’ve noted, home affordability is improving, and marginally lower rates should help improve home sales somewhat.
With headlines of “mortgage rates in the fives”, we’d expect to see some pickup in applications for refinancing (at least) next week. Presently, the Mortgage Bankers Association reported that overall requests for mortgage credit rose by 0.4% in the week ending February 20. Applications were pushed higher by a 4.1% increase in applications for funds to replace existing mortgages, but pulled back down by a 4.7% decline in those for mortgages to purchase homes. The calendar turns March next week, hopefully bringing with it some snow melting and perhaps a little thawing to what has been a fairly frozen housing market.
Of course, most consumers know that there’s little practical difference between rates a few weeks ago and those available this week. Still, the possibility of getting the best mortgage deal available in more than three years should prove compelling for some, and the overall conditions which support home buying are arguably better aligned at present than they have been for a good while. Employment conditions remain fair; incomes have generally been rising, mortgage rates have eased, home price increases have flattened, inventories of homes available to buy have improved. It’s by no means a perfect set of conditions, just improved relative to where they have been. As the sun continues to move higher in the sky and the warmth of spring slowly returns, it’s not a bad time for a little optimism for a change.
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 February
Sales of single-family, re-sale homes in San Mateo County rose 8.8% in February, year-over-year. There were 174 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 $2,187,500. It was up 0.7% compared to last year.
The average sales price rose 0.6% year-over-year.
The sales price to list price ratio rose from 102.9% to 106.8%.
Inventory of single-family, re-sale homes was up 3.9% compared to last year. As of March 5th, there were 290 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 six days to forty-five 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 fell 21.8% year-over-year.
Year-over-year, the average sales price fell 7.5%.
Condo sales were up 11.8% year-over-year. There were 57 condos sold last month. The average since January 2003 is 122.
Inventory was down 6.2% year-over-year.
As of March 5th, there were 182 condos for sale in San Mateo County. The average since January 2003 is 350.
Days of inventory fell from ninety-five to eighty-six.
It took an average of fifty-one 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.
February 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.