Santa Clara County Home Prices Hit Record

California’s statewide median home price reached a record $914,810 in April, the California Association of Realtors said on May 19, as existing single-family sales rose 3.9% from March and 4.1% from a year earlier. The trade group said the gain reflected stronger activity in higher-priced market segments and lower mortgage rates early in the month. In Santa Clara County, county-level data published by C.A.R. for April put the median price for an existing detached single-family home at about $2.1 million, keeping the Silicon Valley market near the top of the state. ### Why is Santa Clara County standing out even in a high-price California market? Santa Clara County’s roughly $2.1 million median matters because California’s statewide median was less than half that level in April. C.A.R.’s monthly county reports cover existing single-family detached homes and caution that median prices can move with the mix of homes sold, not only with changes in the value of a standard home. (car.org) C.A.R. said its county sales-and-price reports are compiled from surveys of more than 90 local Realtor associations and multiple listing services representing about 90% of the market. That makes the county figures a snapshot of closed sales rather than asking prices, and it is one reason Santa Clara County is tracked separately from statewide averages. ### What pushed California's statewide median to a new high? (car.org) April’s record statewide median followed a 2.9% increase from March’s $889,190 and a 0.4% rise from April 2025’s $911,400, according to C.A.R. The group said the sales mix shifted toward higher-end properties, which lifted the median even as affordability remained strained. Jordan Levine, C.A.R.’s senior vice president and chief economist, said the increase in the statewide median was driven “in large part” by the composition of sales, with a greater share of activity in higher-priced segments. (car.org) C.A.R. President Tamara Suminski said buyer demand remained resilient during the spring selling season even with elevated mortgage rates and geopolitical uncertainty. (car.org) ### How much are mortgage rates adding to the pressure on buyers? Freddie Mac said on May 21 that the average 30-year fixed-rate mortgage was 6.51%, up from 6.36% a week earlier. The average 15-year fixed-rate mortgage was 5.85%. At Santa Clara County price levels, that rate environment sharply increases monthly borrowing costs for buyers who need financing. C.A.R. said housing affordability remains a significant challenge statewide as record prices meet tight supply and continued competition in many markets. (car.org) ### Does the statewide record mean every California market is moving the same way? (freddiemac.com) C.A.R. said county reports are meant to show differences in sales, prices, inventory and time on market across local markets. The group also says median-price changes should not be read as direct changes in the price of a specific home, because the figures can be affected by the size and characteristics of properties sold in a given month. (car.org) That matters in a state where coastal and inland markets can move differently. Santa Clara County’s detached-home median sits far above statewide levels, while other counties remain well below the California median, showing how a record statewide figure can mask wide regional gaps. ### Where should readers look next for the next data point? (car.org) C.A.R. said its county market updates are refreshed every third week of the month using the previous month’s data. The group’s news release page lists monthly home sales and price reports, including the April 2026 release published on May 19. (car.org) (car.org)