Silicon Valley Housing Market Update - November 2025 - Ascend Real Estate
Ascend Real Estate November 18, 2025
Ascend Real Estate November 18, 2025
The Local Lowdown
Quick Take:
Median sale prices for condos fell precipitously in Silicon Valley this month.
Inventory levels have overcorrected and are now lower than they were last year.
Listings are spending much more time on the market than this time last year
Condo median sale prices fell once again
Single-family home prices remained stable last month.
YoY median price changes:
San Mateo County: +5.26%
Santa Clara County: −2.42%
Santa Cruz County: −3.33%
Condo prices were more volatile, with declines across all counties:
San Mateo: −4.73%
Santa Clara: −8.97%
Santa Cruz: −18.77%
The inventory overcorrection
Silicon Valley saw strong inventory growth in 2025, similar to the rest of California and the U.S.
That trend has now reversed in the single-family market:
Active listings down 8.72% YoY
Active listings down 15.22% from last month
A key driver: 5.89% fewer new listings, while sales volume stayed about the same YoY.
Condo inventories are stabilizing, with 2.77% more active listings than last year—far less dramatic than single-family shifts.
Most condos spend more than twice as much time on the market?
Single-family homes are still selling quickly overall despite big percentage changes in days on market.
San Mateo County: 13 days on market
Santa Clara County: 12 days on market
Santa Cruz County: 32 days (↑ 52.38% YoY)
Condos are taking significantly longer to sell across all counties:
San Mateo: 32 days (↑ 39.13% YoY)
Santa Clara: 41 days (↑ 105% YoY)
Santa Cruz: 69 days (↑ 155.56% YoY)
The single-family home market remains incredibly competitive
Months of Supply Inventory (MSI) determines whether a market favors buyers or sellers.
~3 months = balanced market
<3 months = sellers’ market
>3 months = buyers’ market
Single-family home market:
San Mateo County: 1.5 months (strong sellers’ market)
Santa Clara County: 1.3 months (strong sellers’ market)
Santa Cruz County: 3.5 months (nearing balanced)
Condo market:
Santa Clara County: 3.2 months (buyers’ market)
Santa Cruz County: 4.2 months (buyers’ market)
San Mateo County: 3.0 months (balanced)
Recent
Browse our blog posts to be in the know.
Provided Courtesy of Ascend Real Estate
Provided Courtesy of Ascend Real Estate
Provided courtesy of Ascend Real Estate
Welcome to our September newsletter, where we’ll discuss residential real estate trends in the East Bay and across the nation. This month, we’ll examine the state of t… Read more
The Big Story What to expect when you’re expecting inflation Quick Take: The number of homes sold in 2021 is set to be one of the highest on record. Inflation reached … Read more
Welcome to our September newsletter, where we’ll discuss residential real estate trends in Silicon Valley and across the nation. This month, we’ll examine the state of… Read more
Welcome to our September newsletter, where we’ll discuss residential real estate trends in San Francisco and across the nation. This month, we’ll examine the state of … Read more
As we end another crazy year, we are very grateful our kids are finally fully vaccinated, and a return to some sense of normalcy is in view. We are especially looking … Read more
Summer is here, and so are the boozy slushies, all-you-can-eat tacos and double cheeseburgers
The Big Story Where can home prices go from here? Quick Take: Home prices appreciated faster in 2021 than at any other time, even surpassing the 2004–2006 housing bubb… Read more
No doubt 2021 Bay Area housing markets was one of the wildest in recent memory! Our local real estate experts will share their year-end analysis of San Francisco, East… Read more
Welcome, welcome, welcome to 2022. Low inventory here in San Francisco gave us Realtors® a short respite. I took advantage of the slowdown and spent some time tailgati… Read more
Happy Autumn! With all the harvest festivals, this is one of my favorite times of year. My kids love the pick-your-own pumpkin activities, and we look forward to our a… Read more
Welcome to our October newsletter, where we’ll explore residential real estate trends in the East Bay and across the nation. This month, we examine the state of the U.… Read more
Friends and Clients enjoyed our October 23, 2021 event at 1856 15th Street, San Francisco
Welcome to 2022. Low inventory and year end gave us Realtors® a short respite. We took advantage of the slowdown to celebrate the holidays with family. We took the opp… Read more
Welcome to our October newsletter, where we’ll explore residential real estate trends in the Greater Bay Area and across the nation. This month, we examine the state o… Read more
With the new year, there are lots of changes but still the same challenges. With this comes anxiety and frustrations. What is for certain is that it’s your family’s jo… Read more
What a difference a year makes. This time last year, for the sake of safety, we sat outside in the pouring rain with our loved ones to celebrate the Asian Lunar New Ye… Read more
Welcome, welcome, welcome to 2022. Low inventory here in San Francisco gave us Realtors® a short respite. We took advantage of the slowdown to celebrate Chanukah as a … Read more
I’m feeling particularly thankful this November. As pumpkins give way to turkey and cornucopia, we are enjoying lots of family time. I am especially looking forward to… Read more
Spring has sprung and the market is feeling a lot luckier!
What does the Spring market have in store for us?
2021 was a challenging year for many of us (myself included). Many of us were waiting for 2022 to push the reset button on many (if not, all) aspects of our lives. … Read more
You’ve got questions and we can’t wait to answer them.
