February 2026 Market Trends

Recent numbers show a market in transition, with a clear theme of renewed energy and speed, even as sellers face a more complex landscape than the peak frenzy of recent years.

The most striking theme this month is the dramatic compression in time on market. Days on Market has plummeted across the board, often by more than 70-80% month-over-month in cities like Pleasanton, Dublin, and Walnut Creek. This signals a return of urgent buyer demand. When a home is priced and presented correctly, it is being snatched up in days, not weeks.

Another key trend is the substantial increase in new listings. Across many cities, active inventory is up significantly, with cities like Berkeley, Danville, and San Ramon seeing single-family listings rise by 30-50% or more. While this is great news for buyers seeking more options, it hasn't yet tipped the scales toward a buyer's market, as the months of supply still remain tight in most single-family segments.

Closed sales, however, present a mixed picture. While some areas saw a healthy uptick, many experienced a year-over-year decline in the number of homes sold. This, combined with the sharp drop in days on market, suggests that while buyers are out in force and moving quickly, the pool of available buyers might be more selective, or that the available inventory, while growing, isn't yet translating into a surge in completed transactions.

Pricing power continues to be hyper-local. Some cities posted solid gains, particularly in the more affluent corridors like Danville and San Ramon, while others saw slight declines. This underscores that a one-size-fits-all approach to valuation is no longer viable. The condition of a property and its pricing strategy are becoming the primary drivers of a successful sale.

Finally, negotiating leverage is highly segmented. In single-family homes, where list-to-sale ratios often exceed 100% and months of supply remains below two months in many markets, sellers who prepare their homes well can still command strong terms. However, in the condo and townhome segments, where months of supply is consistently higher, buyers are likely finding more room to negotiate and more time to make a decision.