Bay Area Housing Market Update
September 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: 5,972 new listings last month vs 6,098 last year (-2.1%)
Biggest increase: Santa Clara (1,410 → 1,625) · Biggest decrease: Alameda (1,512 → 1,392)
Pending Listings
Pending Listings | By County (Single Family, Condo & Townhouse Combined) | Year-over-Year
Overall: 3,894 pending listings last month vs 3,998 last year (-2.6%)
Biggest increase: Santa Clara (997 → 1,028) · Biggest decrease: San Francisco (505 → 448)
Closed Listings
Closed Listings | By County (Single Family, Condo & Townhouse Combined) | Year-over-Year
Overall: 3,658 closings this month vs 3,862 last year (-5.3%)
Biggest increase: Marin (209 → 233) · Biggest decrease: Contra Costa (898 → 783)
Worth noting: San Francisco's new listings fell the most of any county this month (−84, down 10.7%) — yet closings there held exactly flat (399 → 399), bucking the pullback in new 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
2.0 mo — Neutral
Townhouse
3.2 mo — Buyer's Market
Condo
3.4 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
Single Family: 53.9% (+2.1 pts) · Townhouse: 34.5% (−1.3 pts) · Condo: 30.8% (+3.7 pts)
Bay Area Market Type
| Ratio | Market Type |
|---|
| Under 15% | Buyer's Market |
| 15% – 30% | Balanced |
| 30% – 50% | Seller's Market |
| 50%+ | Hot Seller's Market |
Calculated using Active listings broken out by Single Family, Townhouse & Condo.
Overall Bay Area blended ratio (all types combined): 45.5% this September vs 43.1% last September (+2.4 pts).
Pending & Active by Property Type — Sep 2026
| Property Type | Pending | Active | Ratio |
|---|
| Single Family | 2,834 | 5,260 | 53.9% |
| Townhouse | 290 | 841 | 34.5% |
| Condo | 729 | 2,368 | 30.8% |
List-to-Sale Ratio
List-to-Sale Price Ratio (Sale Price ÷ Original List Price) | By Property Type | Year-over-Year
Single Family: 105.9% of ask (avg +5.9% over ask) · Townhouse: 99.5% (avg −0.5%) · Condo: 100.3% (avg +0.3%)
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 — Sep 2026
| County | Sep 2025 | Sep 2026 |
|---|
| Santa Clara | 101.1% | 100.8% |
| San Mateo | 102.6% | 103.2% |
| San Francisco | 109.5% | 120.1% |
| Marin | 98.2% | 101.5% |
| Alameda | 102.5% | 106.5% |
| Contra Costa | 98.3% | 99.8% |
Last month's two data entry errors (San Mateo, Contra Costa) are clear in this export — all 6 counties now show plausible figures. San Francisco again shows the strongest premium over ask of any county, and the widest this quarter.
Sales Volume
Total Dollar Volume Sold | Bay Area Overall | Year-over-Year
Overall: $6.20B this September vs $6.19B last September (+0.1%)
Home Sales Over $4M
209 this September vs 174 last September (+20.1%)
Home Sales Over $10M
17 this September vs 8 last September (+112.5%)