Silicon Valley Housing Update - February 2026
Ascend RE February 20, 2026
Ascend RE February 20, 2026
The Local Lowdown
Single-family median sale prices showed a mixed picture in January, with San Mateo and Santa Cruz Counties posting year-over-year gains while Santa Clara County saw a nearly 4% decline.
Inventory levels remain constrained heading into 2026, with single-family home inventory down 12% year-over-year despite a strong month-over-month rebound in new listings.
Condos are taking dramatically longer to sell across the region, with days on market increasing by more than 50% in most counties.
A tale of two markets as we kick off 2026
Silicon Valley’s single-family market opened the year with mixed results across counties
Single-Family Homes:
San Mateo County: Median price up 4.46% YoY to $1,875,000
Santa Cruz County: Median price up 3.21% YoY to $1,237,500
Santa Clara County: Median price down 3.89% YoY to $1,730,051
Condominiums:
San Mateo County: Down 8.24% YoY to $780,000
Santa Clara County: Down 2.52% YoY to $755,000
Santa Cruz County: Down 7.85% YoY to $692,500
Condo values declined across all three counties, contrasting with more varied single-family performance
Inventory remains tight despite a surge in new listings
New listings surged in January following the typical holiday slowdown
Single-family home new listings increased 136.57% month-over-month
Despite the influx of new inventory, overall supply remains below last year’s levels
1,100 single-family homes currently for sale across Silicon Valley, down 12% year-over-year
537 condos currently on the market, down 11.68% year-over-year
Ongoing inventory shortages continue to challenge buyers in an already competitive market
Condos are sitting on the market for much longer than last year
Single-family homes continue to move relatively quickly, while the condo market has slowed significantly
Condominiums:
Santa Clara County: Average 55 days on market, up 57.14% year-over-year
Santa Cruz County: Average 67 days on market, more than double January 2025 levels
San Mateo County: Average 56 days on market, up 36.59% year-over-year
Single-Family Homes:
San Mateo County: 17 days on market, up 6.25%
Santa Clara County: 14 days on market, up 16.67%
Santa Cruz County: 45 days on market, up 40.63%
Condo sales pace has slowed dramatically compared to more modest shifts in the single-family market
Silicon Valley remains firmly in seller's market territory
Months of Supply Inventory (MSI) is the primary metric used to determine market conditions
California historically averages ~3 months of MSI, which represents a balanced market
Below 3 months of supply indicates a seller’s market
Above 3 months of supply indicates a buyer’s market
Single-Family Homes (Silicon Valley):
Market remains firmly in a strong seller’s position
San Mateo County: 0.9 months of supply
Santa Clara County: 0.9 months of supply
Santa Cruz County: 2.0 months of supply, down 28.57% year-over-year
Condominiums:
Conditions are more balanced compared to single-family homes
San Mateo County: 2.1 months of supply
Santa Clara County: 2.4 months of supply
Santa Cruz County: 3.3 months of supply
Inventory continues to trail demand, particularly for single-family homes
Buyers should expect strong competition heading into the spring selling season
Recent
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Provided Courtesy of Ascend Real Estate
Provided Courtesy of Ascend Real Estate
Provided courtesy of Ascend Real Estate
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