Published October 11, 2026 in Market Update

More listings are showing up, but Sunnyvale and Santa Clara are still moving

By Brad Bell

Real estate, Sunnyvale & Santa Clara - $1M+

The numbers are from the three months ending August 31, 2026. That is the period to keep in mind as you read.

The Real Estate Data Aggregator counted 206 homes for sale across Sunnyvale and Santa Clara in that period. That is up 67.5% from the same three months in 2025. More supply means buyers have more to compare. For sellers, pricing matters more than it did a year ago.

Here is what keeps this from being a buyer's market: pending sales went up too. The Real Estate Data Aggregator counted 335 pending sales across the same ZIP codes, up 7% from a year before. Buyers have more choices, and they are still making decisions.

Nationally, Realtor.com reported that 20.8% of listings had price cuts in September 2026, the highest share since October 2022. That is a real signal. It tells you buyers are pushing back on prices they think are too high.

Sunnyvale and Santa Clara are not immune to that pressure. But the sale-to-list numbers here are still above 100% in every ZIP code the Real Estate Data Aggregator tracks. Homes are still closing over asking, just not by as much as last year.

How each ZIP code landed

The price picture, ZIP by ZIP

95054, the northern Santa Clara ZIP near the Agnews area, had the biggest price move: up 18% year over year to a median of $1,550,000, per the Real Estate Data Aggregator. That is a small sample of 30 homes sold, so read it with care.

94089, the Sunnyvale ZIP along the 101 corridor near Moffett Field, dropped 10.3% to $1,415,000. The Real Estate Data Aggregator also shows new listings there up 58.8%, so more supply arrived at the same time prices softened.

95051, the central Santa Clara ZIP west of Lawrence Expressway, held the highest median at $1,805,000. It was down 3.2% from a year ago, but 56.4% of homes there still sold above list price.

Speed: homes are not sitting long

Days on market crept up in most ZIP codes compared with a year ago. That is honest. But the medians are still short: 17 days in 94089, 19 in 95051, 20 in 95054. Correctly priced homes are not waiting around.

What is happening with rates

Rates are not helping buyers right now. CNBC reported the average contract rate on a 30-year fixed mortgage rose to 7.49% in the week ending October 7, 2026. That is a real cost. It is part of why purchase applications dropped 2% for that same week, per CNBC.

Realtor.com put the San Jose-Sunnyvale-Santa Clara metro median home price at $1,388,472 in September 2026. At 7.49%, the monthly principal and interest on that price with 20% down is a number worth running before you set a budget.

What this means if you own here

A year ago, almost any price got a quick offer. That is less true now. The Real Estate Data Aggregator shows new listings across these ZIP codes up 21.3% from a year ago. Buyers have more options and they know it.

The homes that are still going over asking are priced to match what the market will pay, not what a seller hopes the market will pay. That gap is where deals fall apart right now.

Commute access still drives demand in these ZIP codes. Proximity to Apple in Cupertino via Lawrence Expressway and 280, to Nvidia in Santa Clara, and to Google in Mountain View via 101 and 85 is real value. That does not go away when inventory rises.

One street can read very differently from the ZIP code around it. The numbers above are the average of many sales. Your block may be faster or slower, higher or lower.