Morgan Hill: September 2026 Housing Market Update

Morgan Hill Market Snapshot — August 2026

• Home Values: Sitting around $1.3M – $1.4M, holding steady, up about 1% from last year
• Median List Price (August): Around $1.25M, down about 4% from last summer
• Time to Pending: Well-placed homes going pending in roughly 11 to 20 days — quicker than this time last year
• Sale-to-List Ratio: Hovering between 98% and 100%

Prices Holding Steady, Sellers Pricing Sharper

Steady is the word for Morgan Hill right now. Home values are sitting around $1.3M to $1.4M, up only about 1% from last year. Median list prices in August came in around $1.25M, actually down about 4% from last summer — which means sellers are pricing a little sharper, and buyers are noticing.

Well-Placed Homes Are Still Moving Fast

Here's the stat worth paying attention to: homes are going pending in roughly 11 to 20 days — actually quicker than this time last year. And sale-to-list ratios have been hovering between 98% and 100%.

If a home is priced correctly, it's selling very close to asking price. The home that isn't priced right just sits on the market and ultimately sells for a lot less.

The Interest Rate Story Heading Into September

The 30-year fixed rate is sitting at about 6.7%, the highest we've seen in over a year. There are some big dates on the calendar that could move rates in either direction: a jobs report this week, inflation numbers mid-month, and a Fed meeting on September 16th.

What This Means for Buyers & Sellers

For Sellers

Fall is actually a great window. Inventory typically thins out after summer, so serious buyers have fewer options, and buyers are still out there in September. They're motivated, but pricing strategy is everything right now — that first two weeks on the market matters more than ever.

For Buyers

Don't let that 6.7% scare you off. With list prices softening a bit and less competition than spring, you've actually got more negotiating room this fall. And remember — you can always refinance the rate later, but you can't refinance the price you paid. As the saying goes: you marry the home and you date the interest rate.

The Bottom Line

Morgan Hill in one line: values holding steady, sellers pricing sharper, and well-placed homes still going pending in as little as 11 days with sale-to-list ratios near 100%. Rates at 6.7% are the headline heading into fall, but thinner inventory and softer list prices mean real opportunity on both sides of the table — if the pricing strategy is right.

If you have any questions, or you're thinking about making a move in Morgan Hill or anywhere else in the Bay Area, reach out to us. We live here, we work here, and we'd love to help. Drop a comment or send us a DM — we'll see you soon.

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