Santa Clara County (SCC): Home Prices Mixed, Sales Up in April
The median sales price for single-family, re-sale homes was down 1.4% compared to last year.
The average sales price for single-family, re-sale homes was up 3.3% year-over-year. The average sales price was $2,539,380.
Sales of single-family, re-sale homes were up 3.4%, year-over-year. There were 763 homes sold in Santa Clara County last month. The monthly average since 2000 is 987.
The sales price to list price ratio fell from 106.8% to 105.4%.
Pending sales were up 10.6% year-over-year. There are 763 homes in escrow.
Inventory of single-family, re-sale homes was up 6.2% compared to last year. As of May 5th, there were 1,032 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, stayed at 39 days. The average since 2003 is 89.
It took sixteen 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 up 7.1% compared to last year. The median sales price was $1,125,000. The average sales price rose 1.4% year-over-year. The average sales price was $1,147,350.
Condo sales were down 6%. There were 283 condos sold in April.
The sales price to list price ratio fell from 102.5% to 101.7%.
Pending sales were up 13.8% year-over-year. There are 306 condos in escrow.
Condo inventory was up 12.6% compared to last year.
As of May 5th, there were 758 condos for sale in Santa Clara County. The average since January 2000 is 757.
Days of inventory rose from seventy to seventy-eight.
It took an average of thirty days to sell a condo last month.
If you are planning on selling your property, call me for a free comparative market analysis.
April 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
Right Down The Hall, For Now (SCC & SMC)
May 1, 2026 —Sometime in the middle of next month, it’s going to be a new day for the Fed, as Kevin Warsh will become Chair of the Federal Reserve, and will take the helm of the Federal Open Marked Committee, the body charged with evaluating economic conditions and setting the course for monetary policy. While such a changeover is fairly routine, what’s not routine is for the former Chair of the committee to remain with the Fed. This week, we learned that current Fed Chair Jerome Powell intends to do just that, returning to the Governor’s seat he held before being elevated to lead the Fed back in 2018.
Some eight years ago, Mr. Powell succeeded then-Chair Janet Yellen, someone he had worked with for six years before she departed. At his press conference, he noted that “we were sitting down the hall from each other,” and the transition at that time saw him elevated as she exited. In Chair Powell’s words, the upcoming process will be ‘a very different thing” than what took place back then. Mr. Powell will move back to a position right down the hall again, and will remain there “for a period of time to be determined.” While he remains, Mr. Powell pledged to be a “low profile” Governor.
Aside from the transition drama and what it may mean for the Fed going forward, the FOMC voted this week to hold policy rates steady again, leaving the federal funds rate with a range of 3.5% to 3.75%. All but one voting member agreed with the decision to remain pat; Mr. Miran again agitated for lower rates, as he has done since joining the board last September. While his was the only dissent in terms of policy action, three other FOMC members didn’t agree with the implicit message in the meeting-closing statement that the next move by the FOMC would likely be a cut in interest rates. Beth M. Hammack, Neel Kashkari and Lorie K. Logan all preferred a more balanced statement, suggesting that policy rates might have an equal chance of remaining the same or even being lifted in the foreseeable future.
The housing market may not be on great footing — Mr. Powell characterized it as having remained “weak” — but there was a sizable upturn in housing starts in March anyway. A 10.8% increase compared to February lifted overall housing starts to a 1.502 million annualized pace, Single-family starts rose to a 1.032 million rate, the fastest pace of construction initiation for one-family dwellings in more than a year. Multi-family construction also flared higher, moving up from 415K annual units in February to 470,000 for March. However, while the present looks great, the future is considerably less bright. Permits for future building activity declined by 10.8%, with new permits for single-family homes falling 3.8% to 895,000 annualized units expected to be started, while multi-unit building permits declined 21.5%.
Applications for mortgage credit slid by 1.6% in the week of April 24. The Mortgage Bankers Association reported that requests for funds to purchase homes managed to increase by 1.2% for the week, but those to refinance existing mortgages dropped off by 4.4%. Mortgage rates have been fairly well-behaved given inflation concerns and upward pressure on longer-term interest rates, but they aren’t currently at a place that supports a faster pace of homebuying or one that increases opportunities for homeowners to refinance. As such, sluggish activity is about all that can be expected.
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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| San Jose spotlight 5-6-2026 | Silicon Valley buyers need $1M+ salaries for homes in priciest cities By Linda Taaffe, Palo Alto Weekly |
| NAR 1-5-2026 | 2026 Real Estate Outlook: What Leading Housing Economists Are Watching By Melissa Dittmann Tracey |
| REDFIN NEWS 12-2-2025 | Redfin’s 2026 Predictions: Welcome to The Great Housing Reset By Chen Zhao and Daryl Fairweather |
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, April 28, 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 0.7% annual gain or February 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 February, with Denver (-2.2%) displacing Tampa as the weakest market and Los Angeles and Washington joining the list of decliners. 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 April
Sales of single-family, re-sale homes in San Mateo County rose 19.2% in April, year-over-year. There were 347 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 $2,280,000. It was up 0.8% compared to last year.
The average sales price rose 5.9% year-over-year.
The sales price to list price ratio fell from 108.8% to 106.6%.
Inventory of single-family, re-sale homes was down 12.1% compared to last year. As of May 5th, there were 377 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 seven days to thirty-two days.
It took eighteen 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 7.33% year-over-year.
Year-over-year, the average sales was down 1%.
Condo sales were down 1.9% year-over-year. There were 105 condos sold last month. The average since January 2003 is 122.
Inventory was down 13.3% year-over-year.
As of May 5th, there were 209 condos for sale in San Mateo County. The average since January 2003 is 350.
Days of inventory fell from seventy-three to fifty-eight.
It took an average of twenty-eight 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.
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.
April 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.