Overpricing. With about 9% more homes for sale in Santa Clara County, buyers skip the overpriced ones. To sell your home in Cambrian or San Jose, price for today’s buyers, not for last year’s neighbors.
I’m Kip Barnard, and I’ve sold real estate in Silicon Valley for more than 22 years. Every month I go through the Santa Clara County numbers, and this month one thing stood out more than any other. The market is splitting in two. Some homes are still selling in under two weeks. Others sit, get reduced, and eventually vanish from the listings without ever closing.
If you’re thinking about selling in Cambrian, Willow Glen, or anywhere in San Jose in the next year, you need to know which side of that split your home lands on before you list.
Watch the full breakdown below, then keep reading.
In this video, I walk through the latest Santa Clara County numbers on inventory, price reductions, and homes that come off the market unsold, and explain what sellers should do about it.
What is happening in the San Jose housing market right now?
Here are the numbers from the latest Santa Clara County data:
- Inventory is up about 9% compared to this time last year.
- Price reductions jumped about 50% last month.
- The median sale price is down about 4% from last year.
- Some homes are still selling in less than two weeks.
That last point matters most. This is not a market where nothing sells. It is a market where the homes that are priced and prepared correctly sell fast, and the rest sit. More inventory means more competition for sellers. Buyers are also a lot pickier, because they have options and higher interest rates make them careful about every dollar.
A 4% drop in the county median does not mean your home lost 4%. Medians blend every neighborhood, price point, and condition together. But combined with more listings and more price cuts, it tells me sellers need to be far more strategic than they were a couple of years ago.
Why are so many homes coming off the market without selling?
This is the number most sellers never see, because Zillow does not highlight it.
Some homes never sell. They get canceled, they expire, or frustrated owners withdraw them. There is no sold sign and no closing. One day the listing is simply gone.
Here is what I found when I went back through the data. For every two homes that sold last month, one came off the market without selling. Last year that ratio was closer to one for every three homes sold, and last year was not a red-hot market either.
Some of those homeowners will come back after the holidays and try again. But the pattern tells you something about the sellers involved. Most of them started with a price based on what a neighbor got a couple of years ago, not on what buyers are willing to pay today.
Why does the first week on the market matter so much?
When your home first hits the market, it gets the most attention it will ever get, especially online. Buyers are watching. Their agents are watching.
If a home sits for two or three weeks without an offer, buyers start asking what is wrong with it and why nobody else has bid. When the seller finally cuts the price, buyers do not think “great deal.” They think “how much lower will this go?”
Now you are waiting for someone to make an offer instead of having buyers compete for your home. That is a very different negotiating position, and it is hard to recover from.
Sellers sometimes believe they can price high and negotiate later. Today’s buyers do not negotiate with an overpriced home. They move on to the next one.
What does overpricing really cost a seller?
An overpriced home starts a countdown to failure. Every week on the market weakens your position, and the price you eventually accept is often lower than what a sharp opening price would have produced.
A strategic price does the opposite. When buyers believe they are looking at a great deal, you create competition. That can mean multiple offers, stronger terms, and sometimes a final price above what you were asking.
I am getting calls right now from frustrated sellers who feel their time was wasted. They listed with a number that made them happy at the kitchen table and made buyers walk away online.
How should you prepare to sell your home in Cambrian this year?
If you plan to sell in the next year, here is where I would focus.
1. Fix what needs fixing. Start with anything that could become an issue during inspections. Surprises in the middle of escrow cost sellers money and leverage.
2. Get the home looking its best. Buyers compare your home to everything else on the market, and right now there is more of everything else.
3. Understand your competition. Look at what buyers can actually choose from in your neighborhood and your price range. Figure out where they will see value.
4. Price for the buyer, not the memory. You may have raised your family in that house, and you may have watched neighbors sell for incredible prices a couple of years ago. Buyers do not share that history. They only see the home next to the other homes.
What do some agents not tell sellers about pricing?
Your agent should be willing to have an uncomfortable conversation with you about two things: the condition of your home and your price.
Some agents will agree with whatever number you have in mind, just to win the listing. They will not always tell you what your home needs to be ready for today’s buyers. That helps the agent sign a contract. It does not help you sell.
If buyers do not see the value in your asking price, you are the one sitting on the market, getting frustrated, and watching other homes sell. Eventually you might pull the listing, like so many sellers are doing right now. I believe everyone deserves to hear the truth, even when it is not what they want to hear.
Frequently Asked Questions
Is now a good time to sell in Cambrian?
Homes are still selling in Santa Clara County, some in under two weeks, and plenty of buyers are active. But inventory is up and buyers are choosy, so the quality of your preparation and pricing matters more than the calendar. Start preparing now if you plan to sell within the next year.
Are home prices dropping in San Jose?
The latest data shows the Santa Clara County median sale price down about 4% from this time last year. That is a county-wide figure and does not mean every home lost 4%. Your specific neighborhood, condition, and price point decide what your home is worth.
Why do homes come off the market without selling?
Most are canceled, expired, or withdrawn after the seller gets frustrated. In the latest data, one home came off the market without selling for every two that sold. Overpricing and poor preparation are the most common reasons I see.
How long does it take to sell a home in San Jose?
It depends heavily on price. Correctly priced homes are still selling in less than two weeks across Santa Clara County. Homes that sit for two or three weeks start to raise buyer suspicion and usually end up with a price reduction.
Should I price high and negotiate down later?
In this market, I would not. Buyers have more options and simply move on from overpriced homes. A price that makes buyers see value in the first week gives you the best shot at competing offers.
Thinking About Selling? Let’s Talk It Through.
If you’re wondering what this could mean for your home in Cambrian, Willow Glen, or anywhere in San Jose, let’s talk it through. No pressure, just an honest look at your timing, your equity, and what your specific neighborhood is doing. That’s what we’re here for.
Book a 30-minute call with Kip: https://calendly.com/kip-barnard-compass/30min
Get the free seller guide, “Selling for Top Dollar in Silicon Valley”: https://kipandtam.com/seller-guide
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About the Author
Kip Barnard is a Broker Associate with Compass and has sold real estate in San Jose and Silicon Valley for more than 22 years. Together with his partner Tam, he leads the Barnard Group, helping homeowners in Cambrian, Willow Glen, and across San Jose prepare, price, and sell with a straight, honest plan. A U.S. Marine Corps veteran, Kip believes sellers deserve the truth, even when it is not what they want to hear.
Kip and Tam | Barnard Group
DRE# 01428934 | Compass
Disclaimer: This article is for general information and reflects market conditions at the time of publication. It is not legal, tax, or financial advice, and statistics are drawn from Santa Clara County data and may not reflect conditions in any individual neighborhood or home. Consult a qualified professional about your specific situation.
Last updated: November 12, 2026
