San Mateo Housing Market Report – March 2026
Here's a look at how the San Mateo, CA real estate market performed in March 2026, based on actual sold data from the MLS.
Market Snapshot
- Homes Sold: 56
- Median Sale Price: $1,812,500
- Average Sale Price: $2,153,744
- Average Price Per Sq Ft: $1,176
- Average Days on Market: 34
- Sale-to-List Price Ratio: 123.9%
Month-Over-Month Trends
Compared to February, the median sale price in San Mateo moved 21.6% up (from $1,490,000 to $1,812,500). The number of homes sold was 12.0% up compared to the prior month (50 vs. 56). Average days on market shifted 60.5% down (86 days to 34 days).
Year-Over-Year Comparison
Compared to March 2025, the median sale price is 11.2% up (from $1,630,000 to $1,812,500). Sales volume is 18.8% down year-over-year.
What This Means
March brought a surprising surge to San Mateo's housing market, and the numbers tell a story of renewed momentum. The median sale price jumped 21.6% month-over-month to $1.8 million, while sales volume climbed 12% compared to February. More tellingly, homes are flying off the market in just 34 days on average—that's a dramatic 60% drop from the previous month's 86-day average. Sellers are clearly in the driver's seat right now, with homes selling at nearly 124% of asking price. This spring acceleration is typical for the Bay Area, as seasonal demand picks up and inventory traditionally tightens.
However, the year-over-year picture is more tempered. While the median price is up a solid 11.2% annually, sales volume has actually declined 18.8%. That suggests fewer transactions are happening overall despite strong pricing on homes that do sell. With 140 active listings on the market, there's more inventory than we saw last March, though it's still moving quickly. The divergence between monthly strength and annual softness points to a market stabilizing after last year's cooler conditions, rather than one experiencing explosive growth. Buyers are returning, but they're being selective.
San Mateo Sales by Zip Code
| Zip Code | Homes Sold | Median Price | Avg $/SqFt | Avg DOM |
|---|---|---|---|---|
| 94402 | 18 | $3,075,000 | $1,453 | 31 |
| 94403 | 18 | $2,255,000 | $1,160 | 33 |
| 94401 | 13 | $1,202,000 | $993 | 35 |
| 94404 | 7 | $955,000 | $844 | 43 |
Sales by Property Type
| Property Type | Homes Sold | Median Price | Avg $/SqFt |
|---|---|---|---|
| SINGLE_FAMILY | 34 | $2,375,944 | $1,430 |
| CONDOS | 13 | $860,000 | $754 |
| TOWNHOMES | 7 | $1,180,000 | $904 |
| MULTI_FAMILY | 2 | $1,346,250 | $552 |
Sales by Price Range
| Price Range | Homes Sold |
|---|---|
| $500K - $749K | 5 |
| $750K+ | 51 |
Current Active Listings
As of this report, there are 140 active listings in San Mateo with a median asking price of $1,495,034 and an average of 51 days on market.
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