Bay Area Housing Market Update
July 2026
Overall Market
Median Price | Alameda, Contra Costa, Marin, San Francisco, San Mateo, Santa Clara Counties | Overall
Single Family
Townhouse
Condo
By Submarket
Median Price | By Submarket (Single Family, Condo & Townhouse Combined) | Year-over-Year
New Listings
New Listings | By County (Single Family, Condo & Townhouse Combined) | Year-over-Year
Overall: 5,492 new listings last month vs 5,210 last year (+5.4%)
Biggest increase: Santa Clara (1,349 → 1,542) · Biggest decrease: Marin (224 → 199)
Pending Listings
Pending Listings | By County (Single Family, Condo & Townhouse Combined) | Year-over-Year
Overall: 3,596 pending listings last month vs 3,760 last year (-4.4%)
Biggest increase: Contra Costa (863 → 884) · Biggest decrease: Alameda (936 → 833)
Closed Listings
Closed Listings | By County (Single Family, Condo & Townhouse Combined) | Year-over-Year
Overall: 3,902 closings this month vs 3,874 last year (+0.7%)
Biggest increase: San Francisco (378 → 421) · Biggest decrease: Contra Costa (888 → 857)
Worth noting: Marin's new listings fell the most of any county this month (−25) — yet closings there still rose +42 (206 → 248), the opposite direction of its shrinking supply.
Closings today reflect contracts from 30–45 days ago, so expect next month's closings to reflect this month's pending trend.
Months of Supply
Active to Close Ratio | By Property Type | Bay Area Overall
Single Family
1.8 mo — Seller's Market
Townhouse
2.7 mo — Neutral
Condo
3.1 mo — Buyer's Market
Months of Supply = Active ÷ Closed. The Bay Area follows a different pace than national norms: under 2 months is a seller's market, 2–3 months is neutral, and above 3 months is a buyer's market.
Pending Ratio
Pending Ratio (Pending ÷ Active) | By Property Type | Year-over-Year
Overall (all types blended): 43.7% this July vs 39.5% last July (+4.2 pts)
Bay Area Market Type
| Ratio | Market Type |
|---|
| Under 15% | Buyer's Market |
| 15% – 30% | Balanced |
| 30% – 50% | Seller's Market ← (we're here) |
| 50%+ | Hot Seller's Market |
Active listings still aren't broken out by property type in the source data, so each bar below shows that type's pending listings as a share of total Bay Area active inventory (the three bars per year sum to the overall blended ratio above), not a true type-specific absorption rate. If you can get Active split by Single Family/Townhouse/Condo, these bars can be corrected to match Spencer's expected figures.
List-to-Sale Ratio
List-to-Sale Price Ratio (Sale Price ÷ Original List Price) | By Property Type | Year-over-Year
Single Family: 104.6% of ask (avg +4.6% over ask) · Townhouse: 99.5% (avg −0.5%) · Condo: 99.4% (avg −0.6%)
Dashed line marks 100% (selling at exactly asking price). Above the line = selling over ask; below = selling at a discount off the original list price.
By County (partial data)
| County | Jul 2025 | Jul 2026 |
|---|
| San Francisco | 110.9% | 126.4% |
| Alameda | 102.7% | 107.7% |
Only San Francisco and Alameda have this breakdown in the current data (the other 4 counties aren't populated yet), and it isn't labeled by property type, so this may be all property types combined for those two counties. San Francisco currently shows the biggest premium over ask of anywhere we're tracking.
Sales Volume
Total Dollar Volume Sold | Bay Area Overall | Year-over-Year
Overall: $6.58B this July vs $6.13B last July (+7.3%)
Home Sales Over $4M
221 this July vs 156 last July (+41.7%)
Home Sales Over $10M
26 this July vs 16 last July (+62.5%)