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Silicon Valley Housing Update June 2026

June 23, 2026

Silicon Valley Housing Update June 2026

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Quick Take

  • Single-family home median prices showed a mixed performance in May, with gains in San Mateo County and declines in Santa Clara and Santa Cruz Counties.
  • Inventory has dropped significantly, with single-family home supply down nearly 19% year-over-year.
  • Homes continue to sell extremely quickly, averaging just 11–14 days on market across the region.

San Mateo County Surges While Silicon Valley Pulls Back

Single-Family Homes

  • San Mateo County
    • Median price: $2,210,000
    • Up 6.87% year-over-year
  • Santa Clara County
    • Median price: $2,050,000
    • Down 5.58% year-over-year
  • Santa Cruz County
    • Median price: $1,254,500
    • Down 6.38% year-over-year

Condo Market

  • San Mateo County
    • Median price: $842,400
    • Up 24.06% year-over-year
  • Santa Cruz County
    • Median price: $860,000
    • Up 36.51% year-over-year
  • Santa Clara County
    • Median price: $711,000
    • Down 8.85% year-over-year

Inventory Plunges as Buyer Demand Remains Strong

  • Single-family home inventory: 2,071 homes
  • Inventory is down 18.94% year-over-year
  • New listings are also declining:
    • -11.79% year-over-year
  • Demand is rising:
    • Sold listings are up 4.47% year-over-year
  • Condos on the market: 896 units
  • Condo inventory is down 9.77% year-over-year
  • Market conditions reflect demand outpacing new supply across both segments.

Single-Family Homes Continue to Fly Off the Shelves

Single-Family Homes

  • San Mateo County: 12 days on market (+9.09% YoY)
  • Santa Clara County: 11 days on market (+10.00% YoY)
  • Santa Cruz County: 14 days on market (unchanged YoY)

Condo Market

  • San Mateo County condos: 28 days on market (15.15% faster YoY)
  • Santa Cruz County condos: 23 days on market (37.84% faster YoY)
  • Santa Clara County condos: 25 days on market (38.89% slower YoY)

Silicon Valley is Deeply Entrenched in Seller’s Market Territory

What MSI means

  • ~3 months of supply = balanced market
  • Below 3 months = seller’s market
  • Above 3 months = buyer’s market

Single-Family Homes

  • San Mateo County: 1.4 months of supply (-39.13% YoY)
  • Santa Clara County: 1.8 months of supply (-10% YoY)
  • Santa Cruz County: 3.1 months of supply (-34.04% YoY)

Condos

  • San Mateo County: 3.5 months of supply (-22.22% YoY)
  • Santa Clara County: 4.3 months of supply (+10.26% YoY)
  • Santa Cruz County: 3.9 months of supply (-40.91% YoY)

Overall takeaway

  • Single-family homes remain extremely competitive, with tight inventory and rapid sales.
  • Condos show a more mixed, slightly more balanced market across counties.
  • Buyers should expect strong competition, especially in lower-inventory segments.


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