More homes are selling, yet the median sale price is below last year’s level. For Santa Clara County buyers and sellers, those headlines can sound contradictory.

They can both be true—and understanding why can help you make better decisions about buying, selling, or interpreting your own home’s value.

The latest September report from the Santa Clara County Association of REALTORS®, released October 14, shows an increase in completed single-family home sales alongside a lower year-over-year median price. These are monthly figures, rather than results from this past weekend alone. Santa Clara County Association of REALTORS®

Here is the market snapshot:

Source: Santa Clara County Association of REALTORS®. Santa Clara County Association of REALTORS®

The first thing to notice is the timeframe. Prices were lower than a year earlier, but they increased slightly from August. Sales increased over both comparison periods. That is a more nuanced picture than simply saying that prices are falling while activity rises.

More transactions do not automatically push prices higher

Sales volume measures how many transactions close. The median price identifies the middle sale when those transactions are arranged from lowest to highest price.

Those measurements answer different questions.

A market can record more sales because additional buyers and sellers reach agreement at prices that work for them. Increased activity does not require every transaction to happen at a higher price.

For example, a seller who adjusts an ambitious asking price may attract a buyer who previously passed on the property. That transaction adds to sales activity. It does not necessarily signal that prices across the neighborhood are increasing.

The mix of homes sold also matters

A lower countywide median does not mean every home lost the same percentage of its value.

Imagine one month includes an unusually large number of expensive properties. The next month includes more moderately priced homes. The median can move lower even if the market value of comparable individual properties changes very little.

Location, square footage, lot size, condition, and the mix of transactions all influence the result.

The September summary alone does not establish how much of the annual median decline came from changing property values versus a different mix of homes sold. Answering that requires a closer look at comparable properties.

Mortgage rates keep affordability in the conversation

Freddie Mac reported a national average 30-year fixed mortgage rate of 7.40% on October 15. Its survey focuses on conventional conforming purchase loans for borrowers with excellent credit and 20% down; local jumbo financing and individual quotes can differ. globenewswire.com

For buyers, the practical question extends beyond the asking price: What will this home cost each month?

That calculation includes financing, property taxes, insurance, maintenance, and any HOA dues. A reduced price can improve the numbers, but buyers still need a current loan estimate to understand whether a property fits their budget.

More choice can encourage negotiation

Realtor.com’s September San Jose report showed active listings up 17.4% from a year earlier, with approximately 16.4% of listings carrying a price reduction. Those figures describe San Jose listings, a different geography and measurement from countywide completed single-family sales. realtor.com®

My interpretation is that additional choice gives buyers more opportunities to compare properties and identify sellers willing to negotiate. It does not establish that every listing will sell at a discount.

A home’s asking price still needs to be evaluated against comparable sales, condition, and competing listings. A large reduction from an unrealistic starting price may offer less value than a smaller reduction on an already competitive listing.

What this means for Almaden Valley

For Almaden Valley homeowners, countywide statistics provide context. A pricing decision needs a much closer view.

A useful analysis should compare homes with similar size, condition, location, lot characteristics, and amenities. Current competition matters, too: buyers considering your property may also be choosing among several nearby alternatives.

Buyers should use the same approach. Identify the features that matter most, establish a comfortable payment, and evaluate each property on its merits.

For sellers, preparation and pricing should work together. Review comparable sales before choosing a list price, then pay attention to showing activity and buyer feedback once the home is available.

Whether you are planning a move in Almaden Valley or elsewhere in Santa Clara County, a property-specific review can turn broad market headlines into a practical plan.

Call to action:

Thinking about buying or selling? Contact our team for a personalized review of recent comparable sales, current competition, and what today’s market could mean for your next move.