Published October 25, 2026 in Market Update

Campbell has more room now, but it is not a slow market

By Brad Bell

Real estate, Campbell - $900K+

The one fact that changes what a seller should do right now: the Real Estate Data Aggregator counted 65 homes for sale in the Campbell $900K-plus market for the three months ending August 31, 2026, up 54.8% from the same period in 2025. More supply means a buyer has options. That shifts the margin for error on pricing from wide to thin.

Two months of supply is the line most analysts use to call a market balanced. At 2.4 months, Campbell is just past it. That is not a buyer's market. It is a market where a well-priced home still moves, and a mispriced one sits.

Prices are still going up

The Real Estate Data Aggregator put the median sale price at $1,957,500 for the three months ending August 31, 2026. That is up 7% from the same months in 2025. For context, the Federal Housing Finance Agency reported U.S. house prices rose just 2.6% in the year ending July 2026. Campbell is running well ahead of the national pace.

Homes are still selling over list

The Real Estate Data Aggregator showed the average sale price came in at 101.1% of list price for the three months ending August 31, 2026. That is down only 0.1 points from a year ago. Nearly half of homes, 46.4%, sold above list. That share is down 0.2 points from last year, so the change is real but small.

Fewer homes sold, and they took a little longer

The Real Estate Data Aggregator counted 84 homes sold in the Campbell $900K-plus tier for the three months ending August 31, 2026, down 18.4% from the same period in 2025. The median time on market was 21 days, six days longer than a year ago. Not every home sold fast. But 43.9% went under contract within two weeks of listing, which is still a meaningful share of the market.

The national picture adds one more thing to watch

Realtor.com reported that mortgage rates climbed above 7% for the first time since January 2025. Nationally, 20.8% of listings took a price cut in September 2026, the highest share since October 2022. Campbell is not seeing that same pressure on prices yet, but buyers who are watching rates are watching them here too.

Realtor.com also reported that active listings topped 1.16 million homes nationally in September 2026. Campbell's 54.8% inventory jump fits that same direction. More supply, slower absorption, rates above 7%: those three things together are why prep and pricing matter more than they did a year ago.

One more thing: a single street in Campbell can read very differently from the ZIP code as a whole. Lot size, school assignment and freeway access to 17 or 85 all move the number. The ZIP code average is a starting point, not a final answer.