August 2025 - Silicon Valley Market Insights

The Local Lowdown

Quick Take:

• Median sale prices in Santa Clara County continue their strong upward streak.
  
  

• Inventory levels remain higher than last year.
  
  

• Homes across the region are taking longer to sell.
  
  

Note: You can find the charts/graphs for the Local Lowdown at the end of this section.

Santa Clara County prices remain on the rise

Santa Clara County’s single-family home market continues to show remarkable strength. Median sale prices haven’t dropped year-over-year in more than 12 months.

This steady growth highlights just how resilient the market is, even in the face of ongoing inventory challenges.

Inventory builds as sales slow

July brought higher inventory across Silicon Valley, mostly because fewer homes are selling.

• Single-family inventory rose 7.63% year-over-year.
  
  

• Condo inventory grew 25.86% year-over-year.
  
  

• Sales fell: 2.64% fewer single-family homes and 21.76% fewer condos sold compared to last year.
  
  

More homes = more time on market

As inventory grows, homes are naturally taking longer to sell.

• In Santa Clara and San Mateo counties, single-family homes are staying on the market longer than last year.
  
  

• In Santa Cruz, time on market held steady.
  
  

Even so, competition is still strong. On average, homes across Silicon Valley are selling in less than 2.5 weeks.

Single-family homes stay competitive; condos lean buyer-friendly

Looking at MSI:

• Santa Clara County: 1.5 months → seller’s market.
  
  

• San Mateo County: 1.7 months → seller’s market.
  
  

• Santa Cruz County: 4.3 months → buyer’s market.
  
  

Condos: Buyer-driven throughout the region, with 3.4–5.7 months of supply depending on county.