If you have been waiting for a better moment to buy in San Jose, this fall is giving you more to work with than last fall did. Prices are holding steady, there are more homes to choose from, new listings are coming on at one of the fastest rates in the country, and mortgage rates just eased for the second week in a row. If you are thinking about buying or selling in San Jose, Santa Clara County, or Palo Alto, here is what the latest September figures and the newest weekly numbers mean for you.
San Jose at a glance, steady prices and more choice
In San Jose, the Santa Clara County Association of Realtors September 2026 report put the single family median sale price at $1,568,888, down just 0.4 percent from $1,575,000 in August. That is holding steady, not sliding. There were 367 closed single family sales, 471 new listings, and 606 single family homes in inventory, up from 549 in August. Single family homes averaged 28 days on market, and closed sales averaged 102 percent of the original list price.
For condos and townhomes, the median sale price was $729,000 in September, up 4.1 percent from $700,000 in August, with 471 units in inventory and 127 closed sales. Homes in that group averaged 44 days on market, which gives first time buyers and downsizers a more affordable way into San Jose, with a little more time to decide and compare.
The weekly picture points the same way. Redfin, in its update released October 29 for the four weeks ending October 25, 2026, put San Jose at the top of the large metros for new listings, up 17.9 percent from a year earlier, while the San Jose metro median sale price was down 4.9 percent from a year earlier in that four week window. More new listings and softer prices in the weekly data add up to real choice for San Jose buyers right now.
Santa Clara County, the most new supply in the state highlights
Santa Clara County gives buyers a similar opening. The California Association of Realtors reported a median sold price of $1,920,000 for existing single family homes in Santa Clara County in September 2026, up 1.1 percent from August, and down 4.0 percent from September 2025. Sales rose 15.3 percent from August and 1.5 percent from a year earlier. The median time on market was 11 days, and the unsold inventory index was 2.1 months.
The biggest change is choice. C.A.R. reported active listings in Santa Clara County up 26.4 percent from a year earlier, one of the largest increases among the counties it highlighted. More listings with a median price a little softer than last year means buyers across the county have more room to compare homes, ask questions, and negotiate than they had a year ago, even though well priced homes still sell fast.
Palo Alto, still fast and still premium
Palo Alto remains a very different market, and it is worth knowing the contrast if you are choosing where to search. Palo Alto does not publish a September only median sale price through the California Association of Realtors, which reports by county, so the clearest Palo Alto picture comes from MLS data for the third quarter of 2026 and for the year through August. In the third quarter of 2026, 103 single family homes sold in Palo Alto at a median price of $4.2 million. Those homes sold for a median of 107.6 percent of their original list price, and the median time on market was just 9 days.
From January through August 2026, the median sale price in Palo Alto was $4.125 million, up 7.8 percent from the same months of 2025, with 270 sales and 366 new listings, down 9.2 percent from a year earlier. In plain terms, Palo Alto buyers need to be fully prepared and ready to move quickly, while San Jose and the wider county currently offer more listings and a little more breathing room.
The Bay Area overall
Across the San Francisco Bay Area, C.A.R. reported a median sold price of $1,325,000 for existing single family homes in September 2026, up 4.2 percent from August and up 1.9 percent from September 2025. The median time on market for the region was 19 days, faster than the 24 days of a year earlier, and the unsold inventory index was 2.6 months. Statewide, the California median was $899,720 in September, down 0.2 percent from August and up 1.7 percent from a year earlier. The Bay Area is not one single market, and September proved it again, so your city and your street matter more than any regional headline.
Mortgage rates, moving in a helpful direction
There is welcome news on rates this week. Freddie Mac’s weekly Primary Mortgage Market Survey put the average 30 year fixed rate at 7.24 percent for the week ending October 29, 2026, down from 7.32 percent the week before. The 15 year fixed averaged 6.60 percent, down from 6.68 percent. Freddie Mac’s chief economist noted the rate reached its lowest level this month, modestly boosting purchasing power for prospective buyers.
That is the second weekly dip in a row, and it is a good reminder of how to use a move like this. Buyers who are already preapproved, who know their monthly payment at a few different price points, and who stay in close touch with their lender are the ones who can turn a small rate dip into a real opportunity, whether that is a slightly lower payment, a little more home for the same payment, or simply more confidence to write the offer when the right home appears.
Buyer tips for San Jose right now
First, use the extra choice. With 606 single family homes in inventory in San Jose in September, and new listings still coming on strongly in late October, you can compare neighborhoods, schools, and commute options instead of chasing the first home that appears. Second, do not skip the homes that have been listed a little longer. Fresh listings in San Jose still averaged 102 percent of list in September, but a home sitting past the first two weeks can offer more room to negotiate on price, repairs, or timing. Third, look hard at condos and townhomes. At a median of $729,000 in September, they are a genuine path into San Jose, and at 44 days on market on average, you usually get more time to do your homework. Fourth, get fully preapproved before you tour seriously, so a good rate week and a good home can line up for you.
What this means if you are selling in San Jose
Sellers are still getting strong results for well prepared homes, 102 percent of list on average for single family homes in September, but buyers now have alternatives, so presentation and pricing matter even more. Price from recent local sold sales, get the home truly showing ready, and plan for the first two weeks to do the heavy lifting. If your home needs a different strategy, I am happy to walk through the options for your street.
Common questions
1. What is the median home price in San Jose right now?
The latest September 2026 figures put the San Jose single family median sale price at $1,568,888, down 0.4 percent from August. For condos and townhomes, the median was $729,000.
2. Is now a good time to buy in San Jose?
Buyers have more choice than a year ago. San Jose had 606 single family homes in inventory in September 2026, Santa Clara County active listings were up 26.4 percent from a year earlier, and Redfin put San Jose new listings up 17.9 percent from a year earlier in the four weeks ending October 25, 2026. Prepared buyers can compare more homes and negotiate with more confidence.
3. What is the current mortgage rate?
Freddie Mac’s latest weekly survey, for the week ending October 29, 2026, put the average 30 year fixed rate at 7.24 percent, down from 7.32 percent the week before, and the 15 year fixed at 6.60 percent. Rates move weekly, so a current quote from your lender is always the right next step.
4. How fast are homes selling in San Jose, Santa Clara County, and Palo Alto?
San Jose single family homes averaged 28 days on market in September 2026. Santa Clara County’s median time on market was 11 days in September, the Bay Area median was 19 days, and Palo Alto’s median was 9 days in the third quarter of 2026.
5. How does Palo Alto compare with San Jose right now?
Palo Alto’s median was $4.2 million in the third quarter of 2026, with homes selling for a median of 107.6 percent of list in 9 days. San Jose’s single family median was $1,568,888 in September, at 102 percent of list, with more inventory to choose from.
Thinking about buying or selling in San Jose, Palo Alto, or anywhere in Santa Clara County? I would love to help you make a clear plan with the latest local numbers. Call or text me at 408-477-6262, or visit NajwaRealEstate.com to get started.
Najwa Khoury, Real Brokerage, DRE #02026194