The Cooling Real Estate Market Santa Clara’s real estate market, once one of the most competitive in the nation, has begun to slow down. Homes that would have sold within days are now staying on the market longer, and price reductions are becoming more common. According to recent data, the median home price in Santa Clara has seen slight declines as sellers adjust to the new market conditions. This cooling is also reflected in the broader Bay Area, where the once red-hot housing market has begun to stabilize. Rising interest rates, increased inventory, and the aforementioned corporate exodus have all contributed to this trend. While the area is still relatively strong compared to national averages, it no longer possesses the extreme intensity seen in previous years.