ZIP 94040 Housing Market Report
Santa Clara Metro
Report period: March 2026
94040 Monthly Market Update – March 2026
ZIP 94040 · Last updated Mar 11, 2026 · Data range Oct 2025 – Mar 2026
Executive Snapshot
Median Sale Price
$1,649,000
0.0%
Median DOM (Sales)
11
+22.2%
New Listings (Sales)
7
−80.0%
Median Rent
$3,591
−0.3%
Median DOM (Rental)
27
+22.7%
Total Rental Listings
137
−0.7%
Month-over-Month Movement
Median sale prices were flat. Days on market lengthened. Rents softened. Rental inventory tightened.
What's Moving Fastest
- Fastest selling: Multi-Family (7 DOM)
- Fastest renting: Condo (1 DOM)
- Strongest bedroom: 6 Beds ($4,780,000 median)
Sales Market Overview
Median Price
$1,649,000
0.0%
Median DOM
11
+22.2%
New Listings
7
−80.0%
Inventory
64
+6.7%
- Average Price: $2,105,453
- Median Price: $1,649,000
- Price Range: $190,000 – $5,880,000
- Price per Sq Ft (Avg/Median): $1,217 / $1,062
- Square Footage (Avg/Median): 1,639 / 1,463
- Square Footage Range: 520 – 3,580
- Days on Market (Avg/Median): 21 / 11
- Days on Market Range: 2 – 233
- New Listings: 7
- Total Listings: 64
Sales by Property Type
Condo
Avg/Median Price$926,674 / $858,000Range$498,000 – $1,732,000Price per Sq Ft$823 / $828Sq Ft1,122 / 1,132DOM26 / 19New1Total16
Manufactured
Avg/Median Price$311,633 / $359,900Range$190,000 – $385,000Price per Sq Ft$353 / $360Sq Ft891 / 1,000DOM84 / 14New1Total3
Multi-Family
Avg/Median Price$2,096,195 / $1,632,000Range$1,422,000 – $2,990,000Price per Sq Ft$1,089 / $1,075Sq Ft2,046 / 1,518DOM23 / 7New2Total6
Single Family
Avg/Median Price$3,332,594 / $3,398,000Range$1,398,000 – $5,880,000Price per Sq Ft$1,707 / $1,616Sq Ft1,995 / 1,860DOM12 / 10New2Total26
Townhouse
Avg/Median Price$1,520,206 / $1,599,888Range$999,000 – $1,898,000Price per Sq Ft$981 / $973Sq Ft1,547 / 1,543DOM18 / 12New1Total13
Sales by Bedroom Count
1 Beds
Avg:$728,629Median:$739,888Range:$498,000 – $948,000PSF:$844 / $962Sq Ft:861 / 855DOM:27 / 31New:0Total:3
2 Beds
Avg:$1,001,208Median:$998,000Range:$359,900 – $1,537,170PSF:$859 / $828Sq Ft:1,161 / 1,140DOM:34 / 17New:2Total:19
3 Beds
Avg:$2,073,799Median:$1,798,000Range:$190,000 – $4,250,000PSF:$1,357 / $1,126Sq Ft:1,508 / 1,539DOM:12 / 9New:4Total:23
4 Beds
Avg:$3,156,139Median:$3,395,000Range:$1,732,000 – $4,398,000PSF:$1,483 / $1,575Sq Ft:2,173 / 2,103DOM:13 / 14New:1Total:14
5 Beds
Avg:$3,248,400Median:$2,498,000Range:$2,498,000 – $3,998,800PSF:$1,221 / $959Sq Ft:2,650 / 2,605DOM:53 / 10New:0Total:2
6 Beds
Avg:$5,053,333Median:$4,780,000Range:$4,500,000 – $5,880,000PSF:$1,544 / $1,642Sq Ft:3,278 / 3,342DOM:16 / 13New:0Total:3
| Beds | Avg | Median | Range | Avg/Med PSF | Avg/Med Sq Ft | Avg/Med DOM | New | Total |
|---|---|---|---|---|---|---|---|---|
| 1 Beds | $728,629 | $739,888 | $498,000 – $948,000 | $844 / $962 | 861 / 855 | 27 / 31 | 0 | 3 |
| 2 Beds | $1,001,208 | $998,000 | $359,900 – $1,537,170 | $859 / $828 | 1,161 / 1,140 | 34 / 17 | 2 | 19 |
| 3 Beds | $2,073,799 | $1,798,000 | $190,000 – $4,250,000 | $1,357 / $1,126 | 1,508 / 1,539 | 12 / 9 | 4 | 23 |
| 4 Beds | $3,156,139 | $3,395,000 | $1,732,000 – $4,398,000 | $1,483 / $1,575 | 2,173 / 2,103 | 13 / 14 | 1 | 14 |
| 5 Beds | $3,248,400 | $2,498,000 | $2,498,000 – $3,998,800 | $1,221 / $959 | 2,650 / 2,605 | 53 / 10 | 0 | 2 |
| 6 Beds | $5,053,333 | $4,780,000 | $4,500,000 – $5,880,000 | $1,544 / $1,642 | 3,278 / 3,342 | 16 / 13 | 0 | 3 |
Rental Market Overview
Median Rent
$3,591
−0.3%
Median DOM
27
+22.7%
New Listings
15
Inventory
137
−0.7%
- Average Rent: $3,895
- Median Rent: $3,591
- Rent Range: $1,800 – $9,165
- Rent per Sq Ft (Avg/Median): $5 / $5
- Square Footage (Avg/Median): 855 / 785
- Square Footage Range: 270 – 1,716
- Days on Market (Avg/Median): 64 / 27
- Days on Market Range: 1 – 330
- New Listings: 15
- Total Listings: 137
Rentals by Property Type
Apartment
$3,571
Median DOM: 40
Inventory: 110
MoM: −0.3%
Condo
$2,595
Median DOM: 1
Inventory: 14
MoM: −0.3%
Single Family
$5,900
Median DOM: 1
Inventory: 12
MoM: −0.3%
Townhouse
$5,700
Median DOM: 56
Inventory: 1
MoM: −0.3%
Apartment
Avg/Median Rent$3,818 / $3,571Range$1,950 – $9,165Rent per Sq Ft$5 / $5Sq Ft792 / 750DOM83 / 40New5Total110
Condo
Avg/Median Rent$2,815 / $2,595Range$1,800 – $4,195Rent per Sq Ft$4 / $4Sq Ft806 / 814DOM3 / 1New6Total14
Single Family
Avg/Median Rent$5,714 / $5,900Range$3,500 – $6,995Rent per Sq Ft$4 / $4Sq Ft1,399 / 1,460DOM3 / 1New4Total12
Townhouse
Avg/Median Rent$5,700 / $5,700Range$5,700 – $5,700Rent per Sq Ft$3 / $3Sq Ft1,716 / 1,716DOM56 / 56New0Total1
Rentals by Bedroom Count
Studio
Avg:$2,752Median:$2,250Range:$1,950 – $3,640PSF:$6 / $6Sq Ft:459 / 530DOM:104 / 38New:0Total:12
1 Beds
Avg:$3,385Median:$3,461Range:$1,800 – $8,070PSF:$5 / $5Sq Ft:701 / 706DOM:73 / 40New:7Total:71
2 Beds
Avg:$4,455Median:$3,995Range:$2,695 – $9,165PSF:$4 / $4Sq Ft:1,027 / 1,024DOM:59 / 16New:4Total:41
3 Beds
Avg:$5,909Median:$5,900Range:$4,960 – $6,500PSF:$4 / $4Sq Ft:1,460 / 1,460DOM:8 / 1New:4Total:10
4 Beds
Avg:$6,182Median:$5,800Range:$5,750 – $6,995PSF:$4 / $4Sq Ft:1,572 / 1,562DOM:1 / 1New:0Total:3
| Beds | Avg | Median | Range | Avg/Med PSF | Avg/Med Sq Ft | Avg/Med DOM | New | Total |
|---|---|---|---|---|---|---|---|---|
| Studio | $2,752 | $2,250 | $1,950 – $3,640 | $6 / $6 | 459 / 530 | 104 / 38 | 0 | 12 |
| 1 Beds | $3,385 | $3,461 | $1,800 – $8,070 | $5 / $5 | 701 / 706 | 73 / 40 | 7 | 71 |
| 2 Beds | $4,455 | $3,995 | $2,695 – $9,165 | $4 / $4 | 1,027 / 1,024 | 59 / 16 | 4 | 41 |
| 3 Beds | $5,909 | $5,900 | $4,960 – $6,500 | $4 / $4 | 1,460 / 1,460 | 8 / 1 | 4 | 10 |
| 4 Beds | $6,182 | $5,800 | $5,750 – $6,995 | $4 / $4 | 1,572 / 1,562 | 1 / 1 | 0 | 3 |
6-Month Sales Trend
Oct 2025
Median Price:$1,699,000Median DOM:15New:15Total:58
Nov 2025
Median Price:$1,399,000Median DOM:27New:13Total:48
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:$1,649,000Median DOM:11New:7Total:64
6-Month Rental Trend
Oct 2025
Median Rent:$3,595Median DOM:45New:33Total:148
Nov 2025
Median Rent:$3,640Median DOM:46New:27Total:135
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:$3,591Median DOM:27New:15Total:137
Key Market Takeaways
Median sale prices held steady this month while inventory expanded. Days on market lengthened, signaling slower buyer activity. Rental pricing eased, while total rental inventory tightened.
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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