10/21/2026
October Market Update 🏡
Hi everyone,
Rates finally took a breather. The 30-year fixed held at 7.40%, ending seven straight weekly increases — still its highest since November 2023, per Freddie Mac. Mortgage applications eased about 2.7% for the week ending October 9. Nothing dramatic — just a slower stretch while buyers wait to lock.
Closer to home, September's medians tell the South County story: Morgan Hill $1,474,000, selling just under asking in ~24 days. Gilroy $1,108,000, at asking in ~16 days. And San Martin $1,626,000 — though with only a few sales a month out there, it swings. Buyers are following space and value south.
If you're buying: have your numbers and paperwork lined up before you tour, so you can move comfortably when the right home shows up.
If you're selling: good prep and pricing to today's market beat waiting for a perfect week to list.
I'm happy to talk through what this means for your street — no pressure, just a conversation.
Warmly,
Robyn
Coldwell Banker Realtor
