Published October 18, 2026 in Market Update

More listings are showing up, but this is still a tight market

By Brad Bell

Real estate, Willow Glen, Rose Garden, Cambrian & Almaden - $1.1M+

These numbers cover the three months ending August 31, 2026. That is the period to keep in mind as you read.

The one fact that changes what sellers should do right now: more homes are competing for the same buyers. The Real Estate Data Aggregator counted 651 new listings across this market in the three months ending August 31, 2026. That is up 16.5% from the same period a year before. More choice for buyers means pricing and preparation matter more than they did last year.

That rise is local, not just regional. Realtor.com reported new listings up 9.8% year over year in the Sacramento metro in September 2026. This market ran nearly twice that pace.

More inventory, but buyers are keeping up

The Real Estate Data Aggregator counted 337 homes for sale across the six ZIP codes in the three months ending August 31, 2026. That is up 37% from a year before. On its own, that sounds like a big shift toward buyers.

Then look at pending sales. The Real Estate Data Aggregator counted 560 pending sales in the same period, up 4.7% from a year before. Demand is still absorbing the new supply. That is why this stays a tight market despite the inventory gain.

Sales and prices across the market

The Real Estate Data Aggregator counted 576 homes sold across the six ZIP codes in the three months ending August 31, 2026. That is up 6.5% from a year before. The Federal Housing Finance Agency reported U.S. house prices rose 0.3% from the prior month in July, seasonally adjusted. Local volume is moving in a stronger direction than the national monthly tick.

How each neighborhood read

The market-wide numbers are useful, but each ZIP code tells a different story. Here is what the Real Estate Data Aggregator showed for each one in the three months ending August 31, 2026.

Where the competition is sharpest

In ZIP 95118, the Real Estate Data Aggregator showed 50.7% of homes sold above list price in the three months ending August 31, 2026. The average sale came in at 103% of list. New listings there rose 44.9% year over year, yet months of supply is still only 1.8. More homes came on, and buyers took them.

ZIP 95120 moved the fastest. The Real Estate Data Aggregator showed a median of 16 days on market, 4 days shorter than a year before. Inventory there rose 53.6%, yet the sale-to-list ratio held at 101.4% and 43.7% of homes sold above asking.

ZIP 95124 had the lowest months of supply in the group, at 1.4 months. Nearly half of homes there, 47.4%, went under contract within two weeks of listing, according to the Real Estate Data Aggregator.

What to watch: pricing and days on market

Days on market crept up in several ZIPs. In 95125 and 95124, the Real Estate Data Aggregator showed median days on market rose 7 days year over year. In 95118, it rose 5 days. Homes are still selling, but buyers have a little more time to decide.

The sale-to-list ratio slipped a little in most ZIPs. In 95126, it fell 1.4 points to 99.5%. That is the only ZIP where the average home sold below its asking price. In 95128, it came in at exactly 100%. The rest of the ZIPs still averaged above list.

The broader picture

The Bureau of Labor Statistics reported the U.S. unemployment rate at 4.2% in September 2026, with 7.1 million unemployed. Nonfarm payrolls added 29,000 jobs that month. The all-items consumer price index rose 3.7% over the 12 months ending September 2026, before seasonal adjustment, according to the Bureau of Labor Statistics. Energy rose 20.4% over the same period.

Those numbers set the backdrop. Inflation and a slower job market affect how buyers feel about committing to a large purchase. So far, pending sales here are still rising, which suggests buyers in this market are not pulling back.

What this means if you are selling

More listings mean your home has more competition than it did a year ago. The Real Estate Data Aggregator showed new listings up 16.5% across this market. That is the shift that changes the math on pricing. A home priced a little high now sits longer. Sitting longer, in a market where buyers notice days on market, can cost more than the original price gap.

The good news: buyers are still here. Pending sales rose 4.7% year over year. Well-priced, well-prepared homes are still moving, and several ZIPs are still seeing more than 40% of homes sell above list.

What this means if you are buying

More inventory helps. You have more to choose from than buyers did a year ago. But 560 pending sales against 337 homes for sale, per the Real Estate Data Aggregator, means the good ones are not sitting. In ZIP 95124, 47.4% of homes went under contract within two weeks. In 95118, 41.8% did.

School assignments matter here and are not determined by the mailing address alone. A San Jose address can carry Cupertino schools or not. Buyer to verify assigned schools from district data before using them in any pricing decision.