For years, the Silicon Valley story was simple. Prices went up everywhere. The September 2026 numbers tell a different story. The market is splitting.
I compared September 2026 median sale prices across 28 Santa Clara County zip codes with full-year prices from 2023, 2024, and 2025. Some areas are hitting new highs. Others are cooling. Here's what the data shows and what it means for you.

What are home prices in Santa Clara County right now?

In September 2026, median sale prices ranged from about $1.44 million to $4.18 million, depending on the zip code.
The most expensive zip codes were:

• Los Gatos (95030): $4,175,000
• Saratoga (95070): $4,100,000
• Cupertino (95014): $3,300,000
• Sunnyvale (94087): $2,962,500

The most affordable named zip codes were:

• Evergreen, San Jose (95148): $1,442,944
• Blossom Valley, San Jose (95136): $1,492,500
• Blossom Valley, San Jose (95118): $1,520,000
• Milpitas (95035): $1,544,000

That means the top zip code costs nearly three times as much as the most affordable one.

Which zip codes saw the biggest price gains?

Area	Zip	2023 Median	Sept 2026 Median	Change
San Martin	95046	$900,000	$1,626,000	+81%
Los Gatos	95030	$3,000,000	$4,175,000	+39%
Rose Garden, San Jose	95126	$1,330,000	$1,615,000	+21%
Morgan Hill	95037	$1,329,000	$1,560,000	+17%
Sunnyvale	94086	$2,175,000	$2,545,000	+17%

South County is the surprise. San Martin's median jumped 81% since 2023. Morgan Hill is up 17%. Buyers are following space and value south.
The top keeps climbing. Los Gatos is up 39% since 2023. Demand for the most sought-after areas is still strong.

Are home prices dropping in Santa Clara County?

In some areas, yes. In 17 of 28 zip codes, the September 2026 median came in below the 2025 median.
Areas that cooled include:

• Saratoga (95070): $4.1M, down from $4.39M in 2025
• Almaden Valley, San Jose (95120): $2.03M, down from $2.21M
• Campbell (95008): $1.91M, down from $2.13M
• Santa Clara (95051): $1.87M, down from $2.20M

Other areas held steady or grew. Willow Glen (95125) rose to $2.1 million from $1.98 million in 2025. Cupertino (95014) is right where it was in 2023.

Is Evergreen a good place to buy in 2026?

Evergreen is worth a close look. The 95135 median was $1.85 million in September, down from $2.35 million in 2025. In 95148, the median was about $1.44 million, the lowest of any named zip code on the list.
Evergreen offers newer homes, hillside views, and good access to Highway 101. For buyers who have been priced out of West San Jose, these numbers may open a window. As an Evergreen resident and agent, I see this neighborhood up close every day.

What does this mean for buyers?

• Look beyond your first-choice zip code. A few miles can mean hundreds of thousands of dollars.
• Cooling areas may offer room to negotiate. Ask your agent about recent sales, not just list prices.
• South County is no longer a bargain secret. If you're eyeing Morgan Hill or San Martin, prices are moving fast.

What does this mean for sellers?

• Your zip code matters more than ever. Countywide headlines may not reflect your street.
• Price with fresh data. In a cooling area, last year's price may be too high today.
• In hot areas, timing can work in your favor. Los Gatos and South County sellers are seeing strong demand.

Frequently asked questions

What is the most expensive zip code in Santa Clara County?
In September 2026, Los Gatos (95030) had the highest median sale price at $4,175,000.
What is the most affordable zip code in Santa Clara County?
Among named zip codes, Evergreen in San Jose (95148) had the lowest median at about $1.44 million.
Which area grew the most since 2023?
San Martin (95046) grew the most, with an 81% increase in median sale price.

A note on the data

These figures are median sale prices by zip code from [MLSListings]. The September 2026 numbers reflect one month of sales, so they can shift more than full-year figures. Zip codes with very few sales, like 95138 and 95140, can swing widely and are best viewed with caution.

Let's look at your neighborhood together