Published September 25, 2026 in Market Update

Primary market still has less inventory, even as national supply has grown

By Roberta Robledo

Real estate, Primary market

Thank you for taking a few minutes to read this. These numbers cover the three months ending July 31, 2026, and they tell a story worth knowing if you own or want to own a home here.

The National Association of Realtors reported that U.S. inventory reached 4.9 months of supply, the highest level in over ten years. Here in the Primary market, the Real Estate Data Aggregator counted homes for sale down 10.2% from a year ago. That gap matters. Less local competition can help sellers hold attention from buyers, even as the national picture shifts.

More homes sold here, even as the U.S. slowed

The Real Estate Data Aggregator counted 2,630 homes sold across the Primary market in the three months ending July 31, 2026. That is up 3.7% from a year before. The National Association of Realtors reported that existing-home sales fell 2.0% month over month in August 2026 nationally. Our market moved the other way.

Prices are still moving up in most ZIP codes

The Federal Housing Finance Agency reported that U.S. house prices rose 2.1% year over year through the second quarter of 2026. Most ZIP codes here kept pace or did better. A few dipped a little, so not every part of the market is the same.

ZIP 87122 led the market at a median of $775,000, up 2.6% from a year ago, per the Real Estate Data Aggregator. ZIP 87107 saw the strongest price growth, up 13.4% to a median of $402,573. ZIP 87104 dipped 24.9% to $377,250, and ZIP 87105 fell 3.8% to $264,500. Small ZIP codes with few sales can swing more in either direction.

Speed to contract varies a lot by ZIP code

The Real Estate Data Aggregator tracked how many homes went under contract within two weeks of listing. In ZIP 87113, that share was 43.6%, up 18.1 points from a year ago. In ZIP 87121, it was 42.7%, up 7.4 points. In ZIP 87144, it dropped to 13.6%. Good homes in tight ZIPs are still moving quickly.

Months of supply: local vs. national

The National Association of Realtors put U.S. supply at 4.9 months. Most Primary market ZIP codes sit well below that. ZIP 87110 had just 1.6 months of supply. ZIP 87121 had 1.8 months. ZIP 87031 was the highest locally at 5.2 months, per the Real Estate Data Aggregator.

What about mortgage rates and concessions?

Freddie Mac put the 30-year fixed rate at 7.03% as of September 24, 2026. The 15-year rate averaged 6.42%. Those rates shape what buyers can afford. Nationally, sellers gave concessions in 44.7% of U.S. home sales in August, up from 42.6% a year earlier, according to data reported by a national real estate firm. Here, most homes still sold very close to list price.

ZIP 87109 averaged 100.1% of list price, meaning homes there sold slightly above asking on average. That is a real signal of demand in that area.

A few ZIP codes to watch closely

ZIP 87102 had a big jump in homes sold, up 56.8% from a year ago per the Real Estate Data Aggregator. But days on market there rose 22 days to a median of 61 days. More activity, but buyers are taking longer to decide. ZIP 87122 also saw days on market rise 22 days to 49. Not every busy ZIP moves fast.

One street can read very differently from the whole ZIP code. The numbers above are a starting point, not the final word on your home. I would love to hear from you if you have questions about what this means where you live.