Northern California remains broadly seller-leaning, but the market is becoming more selective. Core Bay Area communities continue to show the strongest seller conditions, while the Tri-Valley and markets farther east are offering buyers more time, choice and negotiating room.
At a glance
- Core Bay Area: Firmly seller-favored, led by San Francisco, Santa Clara, Milpitas, Fremont and San Jose.
- Tri-Valley: More balanced conditions in Dublin, Pleasanton and San Ramon; Livermore remains stronger.
- Central Valley: Tracy, Lathrop, Mountain House and Manteca retain a slight seller advantage, but frequent price reductions point to growing buyer leverage.
- Bottom line: Local pricing and presentation matter more than broad regional headlines.
Strongest seller conditions remain in the core Bay Area
San Francisco recorded a Market Action Index of 71, while Santa Clara stood at 56, Milpitas and Fremont at 52, and San Jose at 51 — all categorized as Strong Seller’s Markets.
Median list prices were approximately $1.398 million in San Francisco, $1.988 million in Santa Clara, $1.650 million in Milpitas, and $1.599 million in both San Jose and Fremont. Even in these competitive markets, several indicators show that buyers are responding carefully to price and condition.
Tri-Valley conditions are more balanced
Livermore remains a Strong Seller’s Market with a Market Action Index of 48. Pleasanton (43), San Ramon (41) and Dublin (40) are classified as having a Slight Seller’s Advantage.
The report also points to cooling conditions in several of these communities. Dublin and San Ramon are already seeing downward movement in pricing as demand softens, while longer marketing times and relisting activity reinforce the need for realistic positioning.
Markets farther east are increasingly price-sensitive
Tracy recorded a Market Action Index of 43, Lathrop 44, Mountain House 38, and Manteca 37 — each reflecting a Slight Seller’s Advantage.
At the same time, price reductions affected roughly 36% of Tracy listings, 40% in Lathrop, 33% in Mountain House and 37% in Manteca. This is a clear signal that sellers need to be increasingly realistic about pricing. Sacramento remained a Strong Seller’s Market at an index of 47, though 43% of listings showed a price decrease.
What this means for buyers and sellers
This is not one uniform Northern California market. Well-positioned homes in supply-constrained Bay Area communities can still command strong buyer attention, while markets farther east are becoming more balanced and increasingly dependent on the right pricing, presentation and negotiation strategy.
For buyers, the current environment may offer more time and negotiating flexibility than the headline “seller’s market” designation suggests. For sellers, pricing correctly from the beginning matters more than ever.
Read the full August 2026 market report
The complete 14-page report covers San Francisco, Sacramento, Milpitas, Livermore, Pleasanton, Dublin, San Ramon, Santa Clara, San Jose, Fremont, Tracy, Manteca, Mountain House and Lathrop.
Fidelity National Title market report
Open the complete 14-page PDF for city-by-city pricing, inventory, days-on-market and Market Action Index details.
Source: Fidelity National Title — Your Local Market Report. Issued September 3, 2026, reflecting market conditions through the end of August and early September 2026. Fidelity National Title’s Market Action Index compares the rate of sales with available inventory to characterize current market conditions.
TrueNorth Realty provides practical real estate guidance across the Bay Area, South Bay, San Joaquin Valley and Sacramento region. Start a conversation with our team about your buying, selling or investment goals.
This article is for general informational purposes and is not legal, tax, lending or investment advice. Market conditions and property values vary by location and change over time.
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