Published October 18, 2026 in Market Update

Campbell prices rose even as buyers got a little more room

By Brad Bell

Real estate, Campbell - $900K+

Mortgage rates climbed above 7% for the first time since January 2025, according to Realtor.com. That is the headline buyers are reading. But Campbell's $900K+ market posted a $1,957,500 median sale price anyway, per the Real Estate Data Aggregator. Prices went up, not down.

That median is up 7% from the same three months in 2025, the Real Estate Data Aggregator shows. The Federal Housing Finance Agency put U.S. house prices up just 2.6% over the same stretch. Campbell ran well ahead of the national pace.

Buyers have more choices now

Homes for sale in this segment rose 54.8% from a year ago, the Real Estate Data Aggregator counted. That is a real shift. Sixty-five homes were available during the period. A year ago that number was much smaller. Buyers are not scrambling the way they were.

More inventory is not the same as a soft market. At 2.4 months of supply, the Real Estate Data Aggregator still puts this well below what most markets call balanced. Sellers have less leverage than last year. They still have some.

Homes are taking a little longer, but most still sell over asking

The median home went under contract in 21 days, according to the Real Estate Data Aggregator. That is 6 days longer than the same period in 2025. Not a big shift, but worth knowing if you are timing a move.

Even so, homes averaged 101.1% of list price at sale, the Real Estate Data Aggregator shows. That is down just 0.1 points from a year ago. Nearly half of homes, 46.4%, sold above asking. The market slowed a little. It did not stop.

Fewer homes closed, but demand is still moving

The Real Estate Data Aggregator counted 84 homes sold in the three months ending August 31, 2026. That is down 18.4% from a year before. Fewer closings, but 98 homes went pending during the same window, down only 3%. Buyers are still making decisions.

Nationally, Realtor.com reported that 20.8% of listings took a price cut in September, the highest share since October 2022. Campbell's sale-to-list ratio of 101.1% tells a different story here. Not every market is the same.

What rates mean for this market

Realtor.com put rates above 7% as of late September. Fannie Mae, as reported by CNBC, forecasts the 30-year fixed rate at 7.4% in the fourth quarter of 2026 and 7.5% through 2027. That is the environment Campbell buyers are working in right now.

Higher rates slow some buyers. They did not stop prices from rising 7% here. The lot, the location and the commute to campuses along 280 and 85 still drive what people pay in this part of Silicon Valley.

One ZIP code tells part of the story. One street can read very differently. If your home is on the quieter end of a busy corridor, or sits in a school boundary that matters to buyers, those details change the number.