Homes Values Down In This Wealthy CA Market: Report

SANTA CLARA COUNTY, CA — Even one of California's priciest and most competitive real estate markets is not immune to shifts in the housing industry, the San Francisco Chronicle recently reported.

In Silicon Valley’s Santa Clara County, the typical home value dipped to $1.69 million last month, down from $1.72 million in November, the newspaper reported, citing data from Zillow and noting home values in the county have risen almost 40 percent since 2020.

While the number of homes listed from January to May of 2025 — about 7,000 — was roughly 4 percent higher than the same period in 2024, the Chronicle reported, citing Redfin, pending sales slightly declined.

“That doesn’t mean home values are in free fall or that homes are suddenly affordable for many Bay Area residents,” according to the Chronicle. “But it does mean some sellers are having to whittle down their prices to strike a deal.”

Potential causes for the downturn include President Donald Trump’s recent disruptive economic policies and stubbornly high interest rates, the newspaper reported.

Read more from the Chronicle.