Welcome to your weekly real estate market briefing for Santa Clara County — one of the most dynamic housing markets in the United States. Whether you're a buyer, seller, or simply curious, this series will give you an informed, ground-level view of what's happening right now.
The Big Picture
As of spring 2026, Santa Clara County reflects the tension between persistently elevated mortgage rates and strong demand fueled by the Bay Area's tech employment base. The 30-year fixed mortgage rate has settled in the 6.2%–6.8% range — still high historically, but stable enough that buyers and sellers are re-engaging after years of hesitation.
Inventory remains the defining challenge. Active listings are concentrated in the condo/townhome segment. Single-family homes in Cupertino, Los Altos, and Saratoga continue to attract multiple offers within days of listing.
City Spotlights
- San Jose: The county's most active market by volume. Median SFR prices near $1.35M, with Willow Glen and Almaden Valley seeing the most competition.
- Sunnyvale & Santa Clara: Strong demand from Apple, Google, and NVIDIA employees keeps these markets tight. Median SFR prices: $1.6M–$1.8M.
- Cupertino & Los Altos: Premium school districts command a significant premium — expect $2.5M+ for a typical 4-bedroom home.
What to Watch This Month
Spring is traditionally the hottest selling season, and 2026 is no exception. Watch for new listings hitting the market in May as sellers who sat out 2025 finally make their move. If inventory ticks up even modestly, buyers may gain slightly more leverage — but don't expect dramatic price drops.
Next week: We'll dig into buyer strategies — how to compete in a low-inventory market without overpaying.