July was a mix of ups and downs in the Mid-Peninsula and South Bay markets depending on where you look, but one thing stayed consistent: homes are still selling fast and often above asking almost everywhere.
On the price side, Mountain View (+28.3%), Los Altos (+15.4%), and Santa Clara (+13.1%) all saw solid year-over-year gains. Atherton also had a huge jump in activity; sales were up 300% compared to last July (12 homes sold this year versus just 3 last year), with prices up a modest 4.5%. Worth noting, even a small increase in sales count can look like a massive percentage jump in a market as tiny as Atherton, so that number tends to swing more dramatically than in higher-volume cities. Not every city is on the upswing, though. Cupertino (-17.4%) and Belmont (-11.3%) both saw prices pull back noticeably.
Sales volume told its own story. San Mateo led the pack with 54 sales, and Redwood City was close behind with 46. Los Altos also saw a nice bump in activity, up almost 39% year over year. On the flip side, Menlo Park and Sunnyvale both saw sales drop off quite a bit (down 42% and 32%), even though pricing stayed fairly steady in those areas.
The one thing that didn't waver: competition. Every single city in the region had a sales-to-list ratio at or above 100%, meaning buyers are still paying full price or more almost everywhere. Homes in San Carlos and Los Altos are flying off the market in just 8 days, and even Atherton's ultra-luxury estates are only taking 9 days on average.
Bottom line: it's still very much a seller's market across the board, even if the pace and price direction look a little different city to city.
(Data is from CA MLS and is deemed reliable but not guaranteed. Private sales are not included.)
Questions about your specific neighborhood? Every market and price segment reacts differently. If you're thinking about buying or selling, or just want to understand what's happening in your specific neighborhood, I'm here to help. Reach out to Wendy at [email protected] to schedule a time to discuss your unique situation and how these trends might affect your plans.
Posted on August 27, 2026
