September 2026 San Mateo County Housing Market Update: Home Prices Rise as Sales Activity Holds Steady

As we move into September, the San Mateo County housing market continues to show resilience despite the affordability pressures buyers have faced throughout 2026.

August data shows that median single family home prices remain above last year’s levels, while sales activity continues at a relatively healthy pace. At the same time, performance varies considerably from one community to another, reinforcing just how local the Peninsula real estate market can be.

San Mateo County’s median single family home sale price reached approximately $2.05 million in August, while individual communities ranged from just over $1 million to well above $5 million. The broader data also points to positive year over year price growth for single family homes.

For buyers and sellers, the takeaway is a market that remains competitive in many areas, but one where pricing, location, property type, and preparation continue to make a meaningful difference.

Here are the key trends from the latest San Mateo County market data.

San Mateo County Home Prices Continue to Rise

Looking across the broader Bay Area, home price performance remains highly varied from county to county.

San Mateo County stood out with median sales prices increasing approximately 5.26% compared with last August.

Other counties have experienced everything from meaningful gains to year over year declines, illustrating the uneven nature of the current Bay Area housing market.

San Francisco has recently shown particularly strong price growth, while markets such as Santa Clara, Sonoma, Solano, and Monterey have experienced softer recent readings.

For San Mateo County, continued positive appreciation suggests that buyer demand remains relatively resilient despite affordability challenges.

The county’s combination of limited housing supply, strong communities, access to major employment centers, and proximity to both San Francisco and Silicon Valley continues to support long term housing demand.

Single Family Homes Continue to Outperform Condos

Looking more closely at San Mateo County, the latest year over year data highlights an important difference between property types.

In August, the median sale price for single family homes was approximately 9% higher year over year, while the median condo sale price was approximately 1% higher.

That represents a significant shift from earlier periods when both categories experienced sharper swings.

Single family homes have generally demonstrated stronger recent price performance, reflecting continued buyer demand for more space, privacy, outdoor areas, and detached housing.

Condos remain an important part of the market, particularly for buyers seeking a lower entry point into San Mateo County. However, the latest numbers suggest that appreciation has been more modest in that segment.

For buyers and sellers, this is an important reminder that countywide statistics do not always tell the complete story. Property type can significantly influence market conditions.

August Median Single Family Home Price Reaches $2.05 Million

The median sale price for a single family home in San Mateo County reached approximately $2.05 million in August 2026.

That compares with approximately $1.90 million in August 2025, reinforcing the year over year appreciation reflected in the broader data.

Looking at the seasonal pattern, prices climbed during the first half of 2026 before gradually easing from their spring peak.

The median price reached approximately $2.20 million in May before moving to roughly $2.15 million in June, $2.10 million in July, and $2.05 million in August.

This type of movement is important to view in context. A decline from spring highs does not necessarily indicate weakening home values. Real estate markets typically experience seasonal changes throughout the year, and the mix of properties sold in any given month can also affect the median.

What stands out is that August 2026 remained above August 2025, suggesting that values have held up despite the seasonal moderation.

Home Prices Vary Significantly Across San Mateo County

San Mateo County is not a single housing market, and August’s community level data makes that especially clear.

Among the communities included in the report, August median single family home prices ranged from approximately $1.045 million in East Palo Alto to $18.65 million in Atherton.

Several Peninsula communities recorded strong year over year gains. Menlo Park reached a median of approximately $3.58 million, up 24%, while San Carlos reached $2.5 million, up 14%. Belmont was also up 14%, with a median price of approximately $2.67 million.

Closer to the coast, Pacifica recorded an August median sale price of $1.35 million, up 8% year over year, while Half Moon Bay reached approximately $1.845 million, up 9%.

Other communities experienced declines. Foster City’s median was approximately $2.05 million, down 14%, while Brisbane was down 30% and East Palo Alto was down 18%.

These monthly percentages should always be interpreted carefully. Smaller communities can experience substantial swings when only a limited number of homes close during a particular month.

Still, the variation demonstrates why buyers and sellers should focus on neighborhood specific data rather than relying exclusively on countywide averages.

Closed Sales Remain Relatively Steady

Sales activity provides another useful measure of the health of the market.

San Mateo County recorded approximately 325 closed single family home sales in August 2026.

That followed stronger spring and early summer activity, including approximately 425 sales in April and a 2026 peak of around 440 sales in June.

By July, sales had moderated to roughly 370 before moving to approximately 325 in August.

This pattern is consistent with the seasonal rhythm of the housing market, where transaction activity often increases during spring and early summer before cooling later in the year.

Importantly, August 2026 sales activity remained relatively close to levels recorded during the same month in recent years.

That suggests buyers are still participating in the market even as affordability and borrowing costs influence purchasing decisions.

What This Means for Buyers

September’s data shows that waiting for broad price declines may not be the most effective strategy for every buyer.

San Mateo County single family home prices remain above last year’s levels, but conditions vary substantially by city, neighborhood, and property.

Buyers may benefit from focusing on the factors they can control:

• Understand recent comparable sales in the specific neighborhood you are considering
• Establish a comfortable budget before becoming emotionally invested in a property
• Look beyond countywide averages when evaluating value
• Be prepared to act when the right home is priced appropriately
• Consider seasonal opportunities as the market moves beyond the busiest spring and summer months

Not every property will experience the same level of competition. A strong strategy begins with understanding the specific segment of the market you are entering.

What This Means for Sellers

For sellers, the latest numbers remain encouraging, particularly for single family homes.

Prices are higher than they were a year ago, and hundreds of transactions continue to close each month across San Mateo County.

However, the significant differences between communities show why pricing strategy matters.

Buyers have access to more information than ever and are comparing homes carefully. A property that is well prepared, marketed effectively, and positioned correctly against recent comparable sales has a better opportunity to stand out.

Sellers should also avoid relying too heavily on a single countywide appreciation figure. Recent neighborhood sales, competing inventory, property condition, location, and buyer activity will provide a much clearer picture of what a specific home may command.

Final Thoughts

September’s market data paints a relatively resilient picture for San Mateo County real estate.

Median sales prices across the county increased approximately 5.26% compared with last August, while single family homes showed roughly 9% year over year growth in August. The median single family home sold for approximately $2.05 million, compared with about $1.90 million one year earlier.

At the same time, performance varies considerably by community. Pacifica was up approximately 8% year over year, while several other cities recorded both larger increases and meaningful declines.

Approximately 325 single family homes closed in August, showing that buyers and sellers continue to transact even after activity moderated from the spring and early summer peak.

Together, these trends point toward a market that remains active and resilient, but increasingly dependent on location, property type, pricing, and individual property quality.

For San Mateo County buyers and sellers, broad market headlines can provide context, but the most useful information is often much closer to home.

If you'd like a personalized analysis of your neighborhood, your home's current value, or your buying strategy in today's San Mateo County market, we're always happy to help.