February 2026 Silicon Valley Real Estate Market Summary

• 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.

February 2026 Bay Area Real Estate Market Summary

• Single-family home prices are surging in San Francisco and parts of the North Bay, with year-over-year gains exceeding 16% and 19% in San Francisco and Marin County, respectively, while other pockets of the region are seeing modest declines.

• Inventory levels have collapsed across the Bay Area, with single-family home inventory down by double digits in every submarket on a year-over-year basis.

• Condos continue to struggle with pricing and longer days on market, while single-family homes are flying off the shelves in many areas.

• Nearly every single-family home market in the Bay Area is firmly in seller's market territory, with several counties sitting at or below one month of supply.

February 2026 San Francisco Real Estate Market Summary

• Housing got substantially more affordable on a year-over-year basis in December.

• Rates continue to fall, as lending markets price in lower long-term interest rates.

• Inventory and sale metrics are roughly in line with what we were seeing around this time last year.

• Despite the fact that we’ve seen interest rates come down quite a bit over the last year, median home sale prices are roughly in line with where they were last year!

January 2026 San Francisco Real Estate Market Summary

• As interest rates continue to fall, median monthly P&I payments do as well, making housing slowly but surely more affordable on a national scale.

• Mortgage rates are currently at the lowest point they’ve been at in recent years, as the Fed continues its rate cut cycle.

• Despite falling interest rates, inventories still remain higher than they were at this point last year.

• We very briefly saw rates break the 6% mark recently, following some commentary from Trump regarding the purchase of mortgage-backed securities by Fannie and Freddie.

January 2026 East Bay Real Estate Market Summary

• Single-family home prices held relatively steady in December, while the condo market continued its year-long slide with double-digit declines in Alameda County.

• Inventories dropped significantly as the year came to a close, with single-family home inventory down nearly 19% year-over-year.

• Single-family homes continue to move quickly, while condos are spending considerably more time on the market.

January 2026 Silicon Valley Real Estate Market Summary

• 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.

January 2026 Bay Area Real Estate Market Summary
The Bay Area closed out 2025 with unprecedented inventory contraction, with most regions experiencing 20-40% year-over-year inventory declines as the holiday season accelerated a dramatic shift toward seller's markets.

• San Francisco led regional price appreciation with single-family homes up 8.63% and inventory hitting historic lows of just 93 homes for sale, while other regions showed more mixed results with pockets of softness.

• Days on market trends diverged sharply across the region, with San Francisco and parts of the East Bay accelerating while other areas like Santa Cruz County experienced significant slowdowns despite tight inventory.

• The entire Bay Area has transformed into seller's market territory across nearly all property types, with several regions reaching extreme supply constraints not seen in years.

January 2026 North Bay Real Estate Market Summary

• Median sale prices were mixed across the North Bay in December, with Napa County single-family homes seeing 7.34% year-over-year growth while Sonoma and Solano Counties experienced slight declines.

• Inventory levels have plummeted dramatically, with single-family home inventory down 38.85% and condo inventory down 27.99% on a year-over-year basis.

• Despite the inventory crunch, listings are spending considerably more time on the market than they did last year, with single-family homes in Solano County sitting 42.86% longer.

December 2025 Bay Area Real Estate Market Summary

Median single-family home prices marked a new two-year high in October.

• Inventory continues to be a huge issue in both the single-family home and condo markets.

• Listings aren’t spending very much time on the market, with the average single-family home being sold in just 14 days.

December 2025 North Bay Real Estate Market Summary

The median single-family home in Marin County sold for 10% less than it did just one year ago in November.

• Inventories in the North Bay dropped by more than 20% when compared to last month!

• Despite the inventory dropoff, listings are spending quite a bit more time on the market than they were last year.

December 2025 East Bay Real Estate Market Summary

Median sale prices are largely on the decline throughout the East Bay.

• The East Bay has continued to buck the trend, as inventories are roughly flat on a year-over-year basis.

• As inventories remain flat, listings are spending more time on the market.

December 2025 Silicon Valley Real Estate Market Summary

Single-family median sale prices declined across the board for the first time in more than a year in November!

• Despite declines in price across the board, inventories are down more than 10% year-over-year.

• The average single-family home in Santa Cruz County is spending more than twice as much time on the market when compared to last year.

December 2025 San Francisco Real Estate Market Summary

Mortgage rates continue to slowly move downwards, as the Federal Reserve continues its rate cuts.

• Inventories remain high, as new supply is hitting the market faster than existing homes are being sold.

• Last Wednesday, the Fed lowered the federal funds rate by another 25 basis points, bringing the target range to 3.50%-3.75%.

November 2025 San Francisco Real Estate Market Summary

Median single-family home prices marked a new two-year high in October.

• Inventory continues to be a huge issue in both the single-family home and condo markets.

• Listings aren’t spending very much time on the market, with the average single-family home being sold in just 14 days.

November 2025 Greater Bay Area Real Estate Market Summary

San Francisco reaches unprecedented market tightness with single-family homes hitting two-year price highs and inventory dropping over 35% year-over-year, while both property types firmly establish seller's market status.

• The Bay Area experiences a dramatic "inventory overcorrection" in October, with most regions swinging from elevated summer levels to below-normal supply, driven primarily by sharp declines in new listings rather than increased sales.

• Condo markets across the region face mounting pressure with widespread price declines and dramatically extended days on market, particularly in Silicon Valley where some areas see listings taking more than twice as long to sell.

• The property type divide intensifies as single-family homes maintain ultra-competitive conditions with rapid sales, while condos struggle with extended market times despite favorable buyer conditions.

November 2025 Silicon Valley Real Estate Market Summary

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.

November 2025 East Bay Real Estate Market Summary

Median sale prices for condos continue to lag where they were last year.

• Inventories are surprisingly static on a year-over-year basis

• Listings are spending a lot more time on the market than they were last year

November 2025 North Bay Real Estate Market Summary

Median sale prices are mostly in line with where they were around this time last year. The North Bay has seen inventories crater on a year-over-year basis, as considerably fewer homes hit the market. Despite lower inventory levels, listings are still spending more time on the market on a year-over-year basis.

October 2025 North Bay Real Estate Market Summary

Median sale prices have remained roughly stagnant year-over-year

• Inventories declined on a year-over-year basis for the first time in months!

• The average listing is quite a bit more time on the market.

October 2025 East Bay Real Estate Market Summary

Single-family home median sale prices declined slightly on a year-over-year basis.

• Inventories remain at a level that’s slightly higher than this time last year.

• Listings are spending a lot more time on the market than they were last year, with single-family listings spending more than 20% longer on the market.