ZIP 94040 Housing Market Report
Santa Clara Metro
Report period: May 2026
94040 Monthly Market Update – May 2026
ZIP 94040 · Last updated May 10, 2026 · Data range Dec 2025 – May 2026
Executive Snapshot
Median Sale Price
$1,698,000
−2.5%
Median DOM (Sales)
15
+7.1%
New Listings (Sales)
5
−85.7%
Median Rent
$3,795
0.0%
Median DOM (Rental)
24
0.0%
Total Rental Listings
156
0.0%
Month-over-Month Movement
Median sale prices eased compared to last month. Days on market lengthened. Rents were stable.
What's Moving Fastest
- Fastest selling: Multi-Family (8 DOM)
- Fastest renting: Condo (1 DOM)
- Strongest bedroom: 6 Beds ($4,730,000 median)
Sales Market Overview
Median Price
$1,698,000
−2.5%
Median DOM
15
+7.1%
New Listings
5
−85.7%
Inventory
91
+2.2%
- Average Price: $2,033,283
- Median Price: $1,698,000
- Price Range: $190,000 – $5,880,000
- Price per Sq Ft (Avg/Median): $1,216 / $1,075
- Square Footage (Avg/Median): 1,525 / 1,490
- Square Footage Range: 520 – 3,580
- Days on Market (Avg/Median): 27 / 15
- Days on Market Range: 2 – 293
- New Listings: 5
- Total Listings: 91
Sales by Property Type
Condo
Avg/Median Price$789,013 / $749,000Range$475,000 – $1,195,000Price per Sq Ft$806 / $789Sq Ft982 / 980DOM32 / 24New2Total30
Manufactured
Avg/Median Price$318,502 / $339,108Range$190,000 – $385,000Price per Sq Ft$348 / $334Sq Ft923 / 1,000DOM104 / 40New0Total4
Multi-Family
Avg/Median Price$1,770,292 / $1,537,170Range$1,422,000 – $2,490,000Price per Sq Ft$1,149 / $1,075Sq Ft1,635 / 1,135DOM10 / 8New0Total4
Single Family
Avg/Median Price$3,263,300 / $3,198,000Range$1,398,000 – $5,880,000Price per Sq Ft$1,666 / $1,655Sq Ft1,964 / 1,873DOM15 / 9New3Total42
Townhouse
Avg/Median Price$1,449,507 / $1,398,000Range$899,000 – $1,799,888Price per Sq Ft$956 / $970Sq Ft1,506 / 1,543DOM37 / 27New0Total11
Sales by Bedroom Count
1 Beds
Avg:$629,600Median:$599,000Range:$475,000 – $900,000PSF:$794 / $738Sq Ft:800 / 822DOM:32 / 31New:0Total:10
2 Beds
Avg:$883,906Median:$828,000Range:$339,108 – $1,537,170PSF:$820 / $797Sq Ft:1,075 / 1,069DOM:43 / 23New:2Total:26
3 Beds
Avg:$2,063,083Median:$1,798,000Range:$190,000 – $3,798,000PSF:$1,361 / $1,236Sq Ft:1,483 / 1,539DOM:20 / 11New:1Total:28
4 Beds
Avg:$3,412,584Median:$3,198,000Range:$1,806,850 – $5,595,000PSF:$1,609 / $1,635Sq Ft:2,131 / 2,007DOM:16 / 9New:2Total:22
5 Beds
Avg:$4,099,333Median:$3,999,000Range:$3,849,000 – $4,450,000PSF:$1,559 / $1,483Sq Ft:2,643 / 2,596DOM:7 / 8New:0Total:3
6 Beds
Avg:$5,305,000Median:$4,730,000Range:$4,730,000 – $5,880,000PSF:$1,634 / $1,625Sq Ft:3,246 / 2,911DOM:32 / 19New:0Total:2
| Beds | Avg | Median | Range | Avg/Med PSF | Avg/Med Sq Ft | Avg/Med DOM | New | Total |
|---|---|---|---|---|---|---|---|---|
| 1 Beds | $629,600 | $599,000 | $475,000 – $900,000 | $794 / $738 | 800 / 822 | 32 / 31 | 0 | 10 |
| 2 Beds | $883,906 | $828,000 | $339,108 – $1,537,170 | $820 / $797 | 1,075 / 1,069 | 43 / 23 | 2 | 26 |
| 3 Beds | $2,063,083 | $1,798,000 | $190,000 – $3,798,000 | $1,361 / $1,236 | 1,483 / 1,539 | 20 / 11 | 1 | 28 |
| 4 Beds | $3,412,584 | $3,198,000 | $1,806,850 – $5,595,000 | $1,609 / $1,635 | 2,131 / 2,007 | 16 / 9 | 2 | 22 |
| 5 Beds | $4,099,333 | $3,999,000 | $3,849,000 – $4,450,000 | $1,559 / $1,483 | 2,643 / 2,596 | 7 / 8 | 0 | 3 |
| 6 Beds | $5,305,000 | $4,730,000 | $4,730,000 – $5,880,000 | $1,634 / $1,625 | 3,246 / 2,911 | 32 / 19 | 0 | 2 |
Rental Market Overview
Median Rent
$3,795
0.0%
Median DOM
24
0.0%
New Listings
15
Inventory
156
0.0%
- Average Rent: $4,235
- Median Rent: $3,795
- Rent Range: $2,100 – $9,605
- Rent per Sq Ft (Avg/Median): $5 / $5
- Square Footage (Avg/Median): 842 / 774
- Square Footage Range: 270 – 2,493
- Days on Market (Avg/Median): 70 / 24
- Days on Market Range: 1 – 361
- New Listings: 15
- Total Listings: 156
Rentals by Property Type
Apartment
$3,790
Median DOM: 39
Inventory: 133
MoM: 0.0%
Condo
$2,695
Median DOM: 1
Inventory: 7
MoM: 0.0%
Single Family
$4,500
Median DOM: 1
Inventory: 14
MoM: 0.0%
Townhouse
$5,500
Median DOM: 1
Inventory: 2
MoM: 0.0%
Apartment
Avg/Median Rent$4,201 / $3,790Range$2,100 – $9,605Rent per Sq Ft$5 / $5Sq Ft782 / 755DOM84 / 39New8Total133
Condo
Avg/Median Rent$2,831 / $2,695Range$2,295 – $3,500Rent per Sq Ft$4 / $4Sq Ft717 / 789DOM4 / 1New0Total7
Single Family
Avg/Median Rent$5,065 / $4,500Range$2,875 – $9,600Rent per Sq Ft$4 / $4Sq Ft1,370 / 1,306DOM3 / 1New6Total14
Townhouse
Avg/Median Rent$5,600 / $5,500Range$5,500 – $5,700Rent per Sq Ft$3 / $3Sq Ft1,630 / 1,543DOM32 / 1New1Total2
Rentals by Bedroom Count
Studio
Avg:$3,177Median:$3,145Range:$2,195 – $4,199PSF:$7 / $6Sq Ft:454 / 491DOM:139 / 24New:0Total:13
1 Beds
Avg:$3,905Median:$3,636Range:$2,100 – $9,324PSF:$5 / $5Sq Ft:711 / 736DOM:76 / 34New:7Total:90
2 Beds
Avg:$4,805Median:$4,585Range:$2,695 – $9,605PSF:$5 / $4Sq Ft:1,028 / 1,013DOM:64 / 20New:3Total:41
3 Beds
Avg:$5,536Median:$5,500Range:$4,250 – $7,500PSF:$4 / $4Sq Ft:1,515 / 1,475DOM:9 / 1New:4Total:10
4 Beds
Avg:$7,810Median:$6,020Range:$6,020 – $9,600PSF:$4 / $4Sq Ft:1,972 / 1,450DOM:1 / 1New:1Total:2
| Beds | Avg | Median | Range | Avg/Med PSF | Avg/Med Sq Ft | Avg/Med DOM | New | Total |
|---|---|---|---|---|---|---|---|---|
| Studio | $3,177 | $3,145 | $2,195 – $4,199 | $7 / $6 | 454 / 491 | 139 / 24 | 0 | 13 |
| 1 Beds | $3,905 | $3,636 | $2,100 – $9,324 | $5 / $5 | 711 / 736 | 76 / 34 | 7 | 90 |
| 2 Beds | $4,805 | $4,585 | $2,695 – $9,605 | $5 / $4 | 1,028 / 1,013 | 64 / 20 | 3 | 41 |
| 3 Beds | $5,536 | $5,500 | $4,250 – $7,500 | $4 / $4 | 1,515 / 1,475 | 9 / 1 | 4 | 10 |
| 4 Beds | $7,810 | $6,020 | $6,020 – $9,600 | $4 / $4 | 1,972 / 1,450 | 1 / 1 | 1 | 2 |
6-Month Sales Trend
Dec 2025
Median Price:$1,425,000Median DOM:35New:8Total:39
Jan 2026
Median Price:$1,597,000Median DOM:9New:21Total:38
Feb 2026
Median Price:$1,649,000Median DOM:9New:35Total:60
Mar 2026
Median Price:$1,798,000Median DOM:10New:38Total:83
Apr 2026
Median Price:$1,741,950Median DOM:14New:35Total:89
May 2026
Median Price:$1,698,000Median DOM:15New:5Total:91
6-Month Rental Trend
Dec 2025
Median Rent:$3,614Median DOM:44New:32Total:135
Jan 2026
Median Rent:$3,650Median DOM:22New:38Total:136
Feb 2026
Median Rent:$3,602Median DOM:22New:32Total:138
Mar 2026
Median Rent:$3,614Median DOM:28New:29Total:141
Apr 2026
Median Rent:$3,795Median DOM:24New:40Total:156
May 2026
Median Rent:$3,795Median DOM:24New:15Total:156
Key Market Takeaways
Median sale prices softened this month while inventory expanded. Days on market lengthened, signaling slower buyer activity. Rental pricing remained stable, while total rental inventory was flat.
Market data is only valuable if you act on it. With pricing stabilizing and days on market shifting, this is the type of environment where disciplined investors find their edge.
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