Welcome to this month’s real estate market report for San Mateo County, California. Situated near the tech hub of Silicon Valley, San Mateo is a highly sought after area to live. San Mateo County continues to be a highly competitive market for buyers and sellers, and this year may see an increase in prices for homes and condos. Find out more about the San Mateo County real estate market in this helpful report.
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San Mateo Housing Stats
The median sale price for single family homes in the San Mateo County, California, area at the end of February 2025 was $2,000,000.
For the year the median sale price of single family properties in San Mateo County is up from $1,800,000 at the end of the previous February.
There was a total of 197 single family homes sold in San Mateo County last month, single family home sales climbed month to month, up from 150 sold during January. An single family for the year match the previous with approximately 200 single family homes sold by this time in 2024.
There was a total of 373 new listing to hit the market in San Mateo County during February, new listings are up month to month, climbing from 300 during January, and up from 320 at the end of the previous February.
San Mateo County has a total of 1.2 months of inventory available to buyers.
There was a total of 355 single family homes for sale at the end of February in San Mateo County.
Single family homes are on the market for an average of 22 days before being sold, this is down from almost 40 days during January, and down from 28 days on the market before being sold average at the end of the previous February.
Sellers are getting 104.3% of their original list price at closing, overbidding increased month to month from 100.3% at the end of January, and up from 102.3% at the end of February 2024.
San Mateo Condo Stats
The median sale price for condo properties in San Mateo County at the end of February 2025 was $980,000, median condo sale prices climbed month to month, up from $970,000, and up from $910,000 at the end of the previous February.
There was a total of 61 condo listings sold in San Mateo County last month, condo sales climbed slightly from month to month, up from 50 during January. Condo sales are down year to year, falling from 80 at the end of February 2024.
There was a total of 172 new condo listings to hit the market in San Mateo County during the month of February, this gives San Mateo 2.5 months of condo inventory available to buyers.
There was a total of 239 condo properties for sale in San Mateo County at the end of last month, new condo listings are up month to month from 170 during January, and up from 160 new condo listings during the previous February.
Condo properties were on the market for an average of 39 days before being sold, this is down from 54 days on the market average during January, but is up from 37 days on the market average during the previous February.
Sellers of condo properties in San Mateo County were getting 100.1% of their original list price at closing at the end of February, this is up from 99.9 percent during the month of January, and from 100% average at the end of the previous February.
What Does This Mean For Buyers?
For buyers entering the real estate market in San Mateo County, California, can expect to see more competition for the few homes available. While there was an uptick in both home and condo listings inventory levels still remain low. The new competition has brought with it an increase in median home sale prices and this could cause the market to slow. However, economic indicators are beginning to favor more buyers, and if interest rates cool, and prices don’t rise dramatically, then the coming could be a very competitive one for buyers.
It is important that buyers have financing in place, and a plan of action before searching for a home. This will save time in the event of competitive bidding and addressing every possible scenario when it comes to getting a home or condo bought and closed on. Indecisiveness can cost time, and lost time can cost a buyer more money.
What Does This Mean For Sellers?
The market for single family homes and condos in San Mateo County continues to favor sellers. The market is active with buyers, and the new year has brought an increase in sales and listings. Overbidding for single family homes continues, and the condo market is beginning to see upward pressure in prices.
Sellers who have been on the fence about selling their property should get it listed and on the market. Inventory levels remain low among increased demand, and you can expect to see your home or condo sell quickly. As we head in to the spring buying season, sellers can expect to see continued demand.
The first step to getting your home listed is knowing its true value. Find out the true value of your home today!
Working closely with your realtor will ensure you save or net the most money when it comes to buying or selling a property in San Mateo County.
San Mateo County Homes for Sale
Here are the most recent single-home listings just added to the database in the median sale price range for San Mateo County. All homes here are priced at $2,000,000 or less.
San Mateo County Condos for Sale
Here are the most recent condominium listings just added to the database in the median sale price range for San Mateo County. All homes here are priced at $980,000 or less.
