Published October 11, 2026 in Market Update

Campbell has more room than last year, but it is not a soft market

By Brad Bell

Real estate, Campbell - $900K+

The Real Estate Data Aggregator counted 65 homes for sale in Campbell's $900K+ segment during the three months ending August 31, 2026. That is 54.8% more than the same period a year ago. More supply means buyers can compare before they commit. For sellers, it means the days of pricing loosely and waiting are largely over.

More inventory sounds like a buyer's market. It is not, quite. The Real Estate Data Aggregator put months of supply at 2.4 for that same period. Anything under three months still tilts toward sellers. Nationally, Realtor.com reported 20.8% of listings had a price cut in September, the highest share since October 2022. Campbell is not there.

Homes are still selling above asking. The Real Estate Data Aggregator found the average sale-to-list ratio at 101.1% for the period. Nearly half of homes, 46.4%, sold above list price. Both figures are almost exactly where they were a year ago. The market slowed a little. It did not break.

The median price is up, but fewer homes sold

The Real Estate Data Aggregator put the median sale price at $1,957,500 for the three months ending August 31, 2026. That is up 7% from the same period in 2025. At the same time, only 84 homes sold, down 18.4% from a year before. Higher prices and fewer sales can happen together when the homes that do sell are larger or better located.

The Real Estate Data Aggregator counted 109 new listings in the period, up just 1.9% from a year ago. So the inventory jump came more from homes sitting longer than from a flood of new sellers. That matters for pricing. A home that lingers adds to the count without adding fresh competition.

Rates are a real factor right now

Freddie Mac put the 30-year fixed rate at 7.40% as of October 8, 2026. That is the highest in 35 months, according to Realtor.com. Rates at this level shrink the buyer pool for any price range. In the $900K+ segment, most buyers are not rate-sensitive in the same way as entry-level buyers, but it still affects how many people can qualify and how much they want to stretch.

The Federal Housing Finance Agency reported U.S. home prices rose 2.6% from July 2025 to July 2026. Campbell's 7% gain over the same window is well ahead of that national figure. This market is not moving with the national average. It is moving with its own supply and demand.

What this means if you own here

The Real Estate Data Aggregator found that 43.9% of homes went under contract within two weeks of listing. That is down 3.6 points from a year ago. Homes that are priced right are still moving quickly. Homes that are not are sitting and adding to that 54.8% inventory gain. The gap between a well-prepared listing and a poorly priced one is wider than it was in 2025.

These numbers cover all of ZIP 95008. One street, or one pocket near a school boundary, can read very differently from the ZIP-wide figures. If you want to know what is happening on your block, send me your address.