San Mateo County Real Estate Market Update: Summer 2026 Recap

If you're wondering what happened in the San Mateo County real estate market this summer, the headline is a little more complicated than simply saying the market was "up" or "down."

In Q3 2026, 1,018 single-family homes with 3+ bedrooms, 2+ full bathrooms, and at least 1,500 square feet soldthroughout San Mateo County. That's a meaningful slowdown from 1,277 homes sold in Q2 and 672 in Q1.

Despite the lower sales volume, prices remained strong. The countywide median sale price reached $2.7 million, with the typical home selling in just 12 days at approximately $1,227 per square foot. The median property had 4 bedrooms, 3 bathrooms, 2,245 square feet of living space, and a 6,978-square-foot lot.

So, is the San Mateo County housing market slowing down?

In terms of transaction volume, yes. But demand for the right properties remains remarkably strong.

This summer's sales show that buyers continue to pay significant premiums for the things that are difficult—or impossible—to change: location, schools, lot size, privacy, waterfront access, and lifestyle.

At the same time, properties with a smaller buyer pool or a price that doesn't align with market expectations can take considerably longer to sell.

That makes the current market increasingly selective rather than uniformly strong or weak.

San Mateo County Real Estate Market at a Glance: Summer 2026

Quarter	Single-Family Homes Sold
Q1 2026	672
Q2 2026	1,277
Q3 2026	1,018

The Q3 report covers sold single-family homes meeting the criteria of 3+ bedrooms, 2+ full bathrooms, and 1,500+ square feet.

The countywide numbers tell us that summer activity cooled from the exceptionally strong spring market, but the 12-day median time on market shows that desirable homes are still moving quickly.

San Mateo County Housing Market by Neighborhood

City	# Sales	Median Sale Price	Median $/Sq Ft	Median DOM
Atherton	36	$11.13M	$2,446	13
Hillsborough	53	$6.42M	$1,695	13
Woodside	23	$5.30M	$1,365	40
Portola Valley	39	$3.50M	$1,273	23
Menlo Park	76	$4.64M	$1,813	9
Redwood City	115	$2.70M	$1,296	11
San Carlos	80	$3.25M	$1,283	10
Belmont	48	$2.82M	$1,280	16
Burlingame	64	$4.10M	$1,556	9
San Mateo	134	$2.53M	$1,355	10
Foster City	51	$2.20M	$1,097	14
Millbrae	40	$2.52M	$1,142	8
San Bruno	51	$1.51M	$827	14
South San Francisco	26	$1.38M	$721	10
Pacifica	91	$1.62M	$787	20
Daly City	58	$1.45M	$759	13

What Changed From Spring to Summer?

The biggest change in the San Mateo County real estate market was sales volume.

Quarter	Homes Sold
Q1 2026	672
Q2 2026	1,277
Q3 2026	1,018

After a major jump in activity during spring, summer sales cooled.

But the countywide median of 12 days on market tells us that buyers haven't disappeared.

Instead, the market appears increasingly divided between:

Properties that buyers feel they need to compete for

and

Properties that buyers are willing to wait on.

That distinction becomes especially obvious when looking at individual neighborhoods.

For example, Hillsborough Oaks had a median of just 1 day on market, while Country Club Manor had a median of 154 days. In Woodside, Central Woodside had a 16-day median compared with 41 days in Woodside Glens.

This is why countywide statistics are useful for context—but not enough to determine what one particular home should sell for.

San Mateo County Home Prices Remain Strong

The overall Q3 median sale price was $2.7 million, with a median $1,227 per square foot.

But the spread across the county is enormous.

Atherton's luxury market included neighborhood medians above $18 million, while many San Bruno, Daly City, and South San Francisco neighborhoods remained in the $1.2M–$1.7M range.

Even within the same city, prices can vary substantially.

In Burlingame, for example, the Burlingame Hills/Skyline Terrace area had a median sale price above $4.25 million, while Burlingame Village was $2.5 million.

In San Mateo, Baywood Park had a median of $2.828M and just 5 days on market, while South Shoreview had a median of $1.486M and 18 days.

The takeaway?

Location still matters enormously.

And so do schools, lot size, condition, lifestyle, and how easily a property can satisfy a buyer's long-term needs.

The three sales below demonstrate that better than any statistic.

Market Case Study 1: $70 Million Shows the Power of Exceptional Real Estate

3000 Ralston Avenue, Hillsborough

Listed: $88,000,000

Sold: $70,000,000

6 Beds | 17 Baths

12,404 Sq Ft Main Residence

4,612 Sq Ft Guest House & Sports Pavilion

12+ Acres Lot

The most dramatic sale of the summer was 3000 Ralston Avenue in Hillsborough, known as Villa de Verano.

The estate sold for $70 million, making it the highest-priced residential sale in Hillsborough history and one of the most significant residential transactions in Northern California in 2026. Public reporting confirms the $70 million sale and the property's 12.33-acre lot.

But this is not a typical Hillsborough home—and that's precisely the point.

Villa de Verano is an ultra-exclusive estate inspired by the elegance of Lake Como. The gated compound sits on more than 12 secluded acres and includes a 12,404-square-foot main residence, a 4,612-square-foot guest house and sports pavilion, a pool, reflection pond, amphitheater, Asian garden, rose garden, redwood grove, event lawn, and extensive recreational facilities.

The sports facilities alone include tennis, pickleball, volleyball, badminton, bocce, horseshoes, shuffleboard, and a putting green, along with an executive-length golf course.

Inside, the estate includes a fitness center, theater, game room, spa, saltwater aquarium, elevator, and custom furnishings and art.

The home was initially offered at $88 million before ultimately selling for $70 million.

There is an important lesson here for luxury sellers:

Even at the ultra-high end, pricing matters.

A $70 million sale is extraordinary, but the property still needed to meet the market where the buyer was willing to transact.

And for buyers, the lesson is equally important:

At the luxury level, you're not simply buying square footage.

You're buying land, privacy, location, architecture, amenities, scarcity, and a lifestyle that cannot easily be replicated.

Market Case Study 2: Presentation + Functionality Can Beat Over-Renovation

200 Occidental Avenue, Burlingame

Listed: $3,995,000

Sold: $4,150,000

3 Beds | 2.5 Baths

2,740 Sq Ft

10,945 Sq Ft Lot

11 Days on Market

This Burlingame sale illustrates a very different kind of value.

The home is a classic Mission-style property in Burlingame Park, sitting on a quarter-acre-plus corner lot with sprawling lawns, mature landscaping, fruit trees, and timeless Spanish architecture.

Rather than undergoing an over-the-top renovation, the home was beautifully maintained and thoughtfully updated.

The single-level floor plan offered approximately 2,740 square feet of living space, with natural light, hardwood floors, crown molding, built-in cabinetry, and a period fireplace.

The primary suite had a walk-in closet and renovated bath, while the informal living room and office area featured dramatic glass walls, exposed beams, and skylights overlooking the yard.

The kitchen received more targeted updates—new counters, updated hardware, recessed lighting, and an eating area—rather than a complete gut renovation.

Other features included solar power, an oversized two-car garage, a garden workshop, and mature landscaping.

The location also did much of the heavy lifting.

The home is close to parks, schools, Burlingame Avenue, SFO, BART, Highway 101/280, and El Camino Real, while offering access to Burlingame schools.

The result?

$155,000 over asking after 11 days.

This is a great example of something I often tell sellers:

You don't always need to renovate the entire house to compete.

Sometimes maintaining the property well, improving the right areas, presenting it beautifully, and pricing it correctly can produce a better return than spending hundreds of thousands of dollars on a renovation.

And for buyers, it is a reminder that "not fully remodeled" doesn't necessarily mean "not move-in ready."

A well-maintained home with excellent fundamentals can be a better long-term purchase than a heavily renovated property where you're paying a large premium for someone else's design choices.

Market Case Study 3: Waterfront Lifestyle Can Command a Premium

609 Waterbury Lane, Foster City

Listed: $3,875,000

Sold: $3,900,000

6 Beds | 3.5 Baths

2,774 Sq Ft

6,392 Sq Ft Lot

14 Days on Market

If 200 Occidental demonstrates the value of timeless architecture and schools, 609 Waterbury Lane demonstrates the value of lifestyle.

This extensively renovated six-bedroom Foster City home offers something that is difficult to replicate:

Direct waterfront access from the backyard.

Imagine being able to paddleboard or boat directly from your own backyard.

The home was extensively reimagined in 2022, opening the kitchen and family room into a large great room with raised ceilings and abundant natural light.

But the updates weren't only cosmetic.

The property received new plumbing, electrical, and gas systems, a new copper main line, Pella wood-frame casement windows, expanded sliders, a new deck, new HVAC with air conditioning, a tankless water heater, new roof, new flooring, and remodeled bathrooms.

The primary suite was expanded, and exterior improvements included new driveway pavers, fencing, and low-maintenance turf.

The property also benefits from Foster City's recreational lifestyle, including community pools, spa, tennis, pickleball, and basketball courts.

And, importantly for many Peninsula buyers, the home offers access to strong San Mateo County schools.

The property sold for $25,000 over asking after 14 days.

The lesson?

Lifestyle can be a form of value.

For one buyer, an extra 200 square feet may matter more.

For another, it might be direct lagoon access, an excellent school district, a huge backyard, a short commute, or a single-story floor plan.

The strongest properties are often the ones that solve a buyer's lifestyle problem—not necessarily the ones with the most expensive finishes.

Market Case Study 4: Waterfront Living in Redwood Shores

656 Spar Drive, Redwood City

Listed: $2,595,000

Sold: $3,000,000

4 Beds | 2 Baths

1,730 Sq Ft

8,196 Sq Ft Lot

10 days on market

Redwood Shores continues to demonstrate the premium buyers are willing to pay for the right waterfront location.

This beautifully renovated home at 656 Spar Drive sold for $3 million after just 10 days on the market, significantly above its $2.595 million asking price. What made it stand out was not simply the renovation, but the combination of waterfront access, protected natural surroundings, recreation, and proximity to Silicon Valley.

One of only a select few homes uniquely positioned to enjoy both tranquil lake views and a protected bird sanctuary directly behind the property, the home offers a lifestyle that is difficult to replicate elsewhere on the Peninsula.

From the backyard, residents can enjoy direct access to the water, launch a kayak or scull into the Redwood Shores Slough, or explore the miles of walking and biking trails just steps from the home. The location makes it possible to spend a morning cycling along the Bay Trail, paddle in the afternoon, and finish the day watching wildlife from the backyard.

The home itself had undergone an extensive renovation, including new flooring, completely remodeled bathrooms with designer finishes, updated showers and ventilation systems, illuminated vanity mirrors, and a redesigned kitchen with new cabinetry, countertops, and a full suite of new appliances. Freshly resurfaced and painted walls created a bright, contemporary feel throughout, while a newly constructed observation deck provided a place to enjoy the serene waterfront setting.

The takeaway: In Redwood Shores, waterfront location can create a significant premium. Buyers aren't just purchasing square footage—they're buying access to a lifestyle that combines water recreation, trails, wildlife, and Silicon Valley convenience. For sellers, this is a reminder that unique location attributes should be marketed as part of the overall lifestyle rather than simply listed as property features.

What This San Mateo County Real Estate Market Means for Buyers

1. Fewer transactions may create opportunities

With Q3 sales lower than Q2, buyers may have more opportunities to negotiate on properties that have been sitting on the market.

But don't assume every seller is motivated.

The median home still sold in just 12 days countywide.

The opportunity is more likely to exist with homes that:

• Have been sitting longer than comparable properties

• Are priced above buyer expectations

• Need cosmetic work

• Have unusual layouts

• Appeal to a smaller buyer pool

• Have already undergone a price reduction

2. Don't overlook homes that aren't perfect

The Burlingame example demonstrates that a home doesn't need to look like a brand-new luxury remodel to attract strong demand.

If the fundamentals are right—schools, location, lot, layout, maintenance, and neighborhood—buyers may still compete.

3. Consider lifestyle value

The Foster City sale is a great reminder that buyers should think beyond bedrooms and bathrooms.

Ask yourself:

What do I want my everyday life to look like?

Would waterfront access matter more than another bedroom?

Would being able to walk to downtown matter more than a newer kitchen?

Would a single-story home make more sense for your long-term plans?

These questions can help you identify value that isn't obvious from an MLS search.

4. Luxury buyers need a different strategy

At the high end, there may be very few truly comparable properties.

A $7 million home isn't necessarily comparable to another $7 million home if one has 2 acres and the other has 10.

For luxury buyers, understanding the underlying land, privacy, architecture, improvements, and scarcity can be more important than simply comparing price per square foot.

What This San Mateo County Real Estate Market Means for Sellers

1. Pricing matters more as the market becomes selective

The Q3 data shows that some neighborhoods move extremely quickly while others can sit for months.

For example, Hillsborough Oaks had a median of just 1 day, while Country Club Manor had 154 days.

That's a dramatic difference.

Your pricing strategy should reflect your property's actual competitive set, not simply the countywide median.

2. Don't renovate blindly

200 Occidental is a good example of targeted preparation.

The home wasn't completely transformed into a modern luxury property. Instead, its architecture, landscaping, condition, and location were allowed to shine.

Before spending hundreds of thousands of dollars on a remodel, ask:

• What will buyers actually notice?

• What will improve the first impression?

• What problems will show up in inspections?

• Which repairs are necessary?

• Which upgrades have the highest ROI?

• Is the neighborhood likely to reward a luxury renovation?

Sometimes the best strategy is a major remodel.

Sometimes it's paint, landscaping, cleaning, repairs, and presentation.

3. Know what makes your property special

Every property has a story.

For 200 Occidental, it was the architecture, schools, lot, and location.

For 609 Waterbury Lane, it was the waterfront lifestyle and extensive systems upgrades.

For Villa de Verano, it was the land, privacy, scale, amenities, and extreme scarcity.

The job of marketing isn't simply to list the features.

It's to explain why those features matter to the right buyer.

4. Your first few weeks still matter

The countywide median is 12 days, and many desirable neighborhoods are even faster.

That means sellers should take the launch seriously.

Pricing, photography, staging, repairs, disclosures, marketing, and showing strategy should ideally be planned before the property goes live.

The goal isn't necessarily to sell in one day.

The goal is to create enough early interest that buyers understand the value before the listing loses its initial momentum.

The Bottom Line: Summer 2026 Was a More Selective San Mateo County Housing Market

The San Mateo County real estate market didn't simply become "hot" or "cold" this summer.

It became more selective.

There were 1,018 qualifying single-family sales in Q3, compared with 1,277 in Q2 and 672 in Q1.

Yet the median sale price remained $2.7 million, with homes selling in a median of just 12 days and at approximately $1,227 per square foot.

What these four case studies show

Together, the four Q3 examples highlight just how diverse the San Mateo County market can be:

• Hillsborough: $70M luxury estate demonstrating the extraordinary ceiling of the Peninsula's ultra-luxury market.

• Burlingame: $4.15M classic home showing that excellent presentation, landscaping, architecture, and schools can be more important than a major modern remodel.

• Foster City: $3.9M waterfront home demonstrating the premium for high-quality renovation combined with recreational waterfront living.

• Redwood Shores: $3M waterfront property showing how rare location attributes—water access, wildlife, trails, and outdoor lifestyle—can create intense buyer demand.

The common thread is that the highest-performing homes aren't necessarily the most extensively renovated homes or the most expensive homes. They are the homes that offer something buyers cannot easily replicate elsewhere.

For buyers, the lesson is:

Don't just shop for the prettiest house. Shop for the best combination of location, schools, lifestyle, lot, condition, and long-term value.

For sellers, the lesson is:

You don't necessarily need to spend the most money. You need to spend strategically, price realistically, and clearly communicate what makes your property worth competing for.

Because in the current market, the right home can still move very quickly—but not every home will.

And that's why looking at the countywide median isn't enough.

The most useful question is always:

"What is happening with homes like mine—or the home I want to buy—in this specific neighborhood and price range?"

Fumika Takazawa

Homes By Fumika | eXp Realty

Helping Bay Area homeowners make informed real estate decisions through data-driven strategies and local market expertise.

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