Welcome to this month’s San Mateo County, California, real estate market report. San Mateo County is situated on the San Francisco Peninsula, and is a favorite destination for a high number of tech workers to buy a home. Single family home and condo prices climbed from December to January. Inventory levels remain low, less than one of single family inventory available, and just 1.8 months of condo inventory. Find out more about the recent month’s real estate activity in San Mateo County in this helpful report.
Are you ready to buy a home in San Mateo County today? Start your search here to find the perfect home or condo. Search by price, size, location, and more! Be sure to save your favorite properties you want to tour. Next, sign up to be notified as soon as new listings that meet your needs become available so you don’t miss out! Find your perfect home now!
Do you won a home or condo in San Mateo County and are thinking of selling but just not sure for what price? Find out what your home may be worth by using our free home valuation tool. Simply enter some basic information about your property, then, we will provide you a confidential market assessment of your home or condo, along with a suggested list price, and selling strategy. Find out what your home is worth today!
San Mateo Housing Stats
The median sale price for single family homes in San Mateo County at the end of January 2025 was $1,800,000.
Single family home median sale prices were up slightly from month to month going into 2025. From year to year, single family home prices were down from $1,840,000.
There was a total of 155 single family homes sold in San Mateo during the month of January. Single family home sales also dropped from month to month, falling from 225 sales during December. For the year, single family home sales are only slightly up from 145 sold the previous January.
A total of 323 new single family properties were presented to the market in January.
There was a total of 280 single family homes for sale in San Mateo County at the end of last month, this is up from 220 during the month of December, but down from 320 total new listings at the end of January 2024.
San Mateo County a total of 0.9 months of inventory available.
Single family home properties are on the market for an average of 39 days before being sold, the number of days on the market before a home was sold from 33 days during December. Compared to the previous January, the number of days a home is on the market before being sold, is down from 44 days.
Sellers are getting 100.4% of their original list price at closing, this is down from 100.6% at the end of December, and steady from year to year.
San Mateo Condo Stats
The median sale price for condos in San Mateo County California at the end of January 2025 was $919,000. The median sale price for condos increased slightly month to month from $900,000, and has increased from the $772,000 median sale price at the end of January 2024.
There was a total of 46 condo units sold during the month of January. Condo property sales dropped from 100 sold during December, and is down from 60 sold during the previous January.
A total of 133 new condo properties hit the San Mateo County real estate market during January.
There was a total of 175 condo listings for sale in San Mateo County at the end of last month, total listings were up month to month from 120 at the end of December, and up from a total of 140 listings at the end of January 2024.
San Mateo a total of 1.8 months of inventory available.
Condo properties were on the market an average of 57 days before being sold in San Mateo County, condo listings days on the market before being sold increased from 52 days during December, and is down from 68 days on the market before being sold during January 2024.
Sellers were getting 98.6% of their original asking price at closing, this down from 100% the previous month, and is also down from 100% of original asking price at closing during the previous January.
What Does This Mean For Buyers?
Overall the San Mateo County, California, real estate market is soft right now. While single family home prices climbing upward, they are not climbing at a significant rate. Single family home prices have stayed well below the 2024 high of $2,300,000, and condo sales prices remained flat most of last year. Competition for homes has decreased as overbidding for properties hovering around 100%. However, inventory challenges remain for buyers as there is less than one month of single family housing inventory available.
For buyers this year, single family prices may cool and settle, and not experience sudden spikes in demand. Demand for single family homes and condos may grow slowly during the first six months of this year. Buyers who are looking to buy should always have a plan in place and prepare for every contingency. Proper planning and guidance can save you money. Work closely with your realtor to insure a successful home buying experience.
What Does This Mean For Sellers?
For sellers the market continues its demand for single family homes and condos. While prices did climb slightly from month to month, buying activity decreased which is typical of the season. As interest rates drop and if inflation keeps kept in check or reduced demand for homes would increase. As for now sellers of homes should be patient, there has been a slowdown in activity, however, these trends may start to reverse in the coming months.
Sellers should have a roadmap to selling their property in place. From having the pricing competitive, targeted and focused marketing implemented, and navigating the bidding process all need to discussed and planned before getting your property listed. In the current San Mateo County market homes are taking more than 30 days to sell, which is why it is recommended sellers exercise patience when getting their home or condo listed.
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 $1,800,000 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 $919,000 or less.
