Silicon Valley Housing Update January 2026
Ascend RE January 20, 2026
Ascend RE January 20, 2026
The Local Lowdown
Quick Take:
Single-family median sale prices rebounded across most of Silicon Valley in December, with San Mateo County posting nearly 10% year-over-year gains.
Inventory levels have plummeted to their lowest levels in years, with single-family home inventory down more than 21% year-over-year.
Despite the inventory crunch, listings in Santa Cruz County are spending significantly more time on the market compared to last year.
A December rebound brings prices back up across most of Silicon Valley
Silicon Valley single-family market rebounded strongly after November’s rare price declines
San Mateo County (single-family)
Median sale price: $1,887,500
+9.74% year-over-year
Santa Clara County (single-family)
Median sale price: $1,800,000
–0.55% year-over-year
Santa Cruz County (single-family)
Median sale price: $1,270,000
+0.79% year-over-year
Condo market showed mixed results
San Mateo County (condos)
–3.84% year-over-year
Santa Clara County (condos)
+1.71% year-over-year
Santa Cruz County (condos)
+10.48% year-over-year
Inventory drops to critically low levels heading into the new year
Silicon Valley inventory has reached critical levels entering 2026
Single-family homes
Inventory down 43.01% month-over-month
Inventory down 21.02% year-over-year
Only 823 homes currently for sale across the region
Tightest inventory conditions seen in years
Sharp reversal from the summer inventory buildup
Condos
Inventory down 33.04% month-over-month
Inventory essentially flat year-over-year
Buyer impact
Extremely limited options
Buyers must be prepared to act quickly when suitable homes appear
Santa Cruz single-family homes are taking much longer to sell
Sales pace varies across Silicon Valley despite tight inventory
Single-family homes
Santa Cruz County
Average days on market: 43 days
65.38% longer than last year
San Mateo County
Average days on market: 18 days
12.50% year-over-year increase
Santa Clara County
Average days on market: 14 days
7.69% year-over-year increase
Condo market shows mixed trends
San Mateo County condos
Days on market up 6.38%
Santa Clara County condos
Days on market up 3.13%
Santa Cruz County condos
Days on market down 16.13% year-over-year
Key takeaway
Not all submarkets are moving at the same pace, even with limited inventory
A deeply entrenched seller's market across most of Silicon Valley
Market conditions are measured by Months of Supply Inventory (MSI)
California’s historical average is ~3 months of MSI, indicating a balanced market
Below 3 months MSI = seller’s market
Above 3 months MSI = buyer’s market
Silicon Valley is firmly in seller’s market territory
Single-family homes
San Mateo County
0.6 months of supply
–33.33% year-over-year
Santa Clara County
0.6 months of supply
–14.29% year-over-year
Santa Cruz County
2.0 months of supply
–28.57% year-over-year
Condo market
San Mateo County: 1.7 months of supply
Santa Clara County: 2.1 months of supply
Santa Cruz County: 3.2 months of supply
Outlook
Inventory continues to shrink while demand remains strong
Buyers should expect stiff competition heading into the spring market
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
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