Is San Mateo, CA a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since March 2023
Since last year, San Mateo has remained a Seller's Market.
Key Takeaway
San Mateo is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in San Mateo, CA
How much do homes in San Mateo, CA cost?
Median Sold Price
$1,500,000
$1,002/sqft
Based on all homes sold in the last 12 months.
Difference Since March 2023
Key Takeaway
The sold price of homes in San Mateo has remained the same since last year.
Summary: The median home sold price in San Mateo was $1,500,000 in March 2024, up 0.2% from last year, and the median price per square foot was $1,002.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $600K | $599K | -0.2% |
| 2 Bedrooms | $1.1M | $1.1M | +5.4% |
| 3 Bedrooms | $1.6M | $1.6M | +0.7% |
| 4 Bedrooms | $2.4M | $2.3M | -4.5% |
| 5+ Bedrooms | $2.8M | $2.2M | -22.1% |
Summary: San Mateo housing prices by bedroom type for March 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 0.2%, 2 bedroom homes increased by 5.4%, 3 bedroom homes increased by 0.7%, 4 bedroom homes decreased by 4.5%, and 5+ bedroom homes decreased by 22.1%.
Median Sold Price Compared To Nearby Cities
| Foster City | $1.5M | $1.5M | +2.6% |
| San Mateo | $1.4M | $1.5M | 0.2% |
| Belmont | $2.1M | $2.1M | -1.3% |
| Burlingame | $2.6M | $2.4M | -7.7% |
| Hillsborough | $5.8M | $4.8M | -17.4% |
Housing Supply in San Mateo, CA
How many homes are available in San Mateo, CA?
Number of Homes For Sale
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 158 | 201 | +27.2% |
Summary: The San Mateo real estate market had 201 homes for sale in March 2024, a 27.2% increase compared to February 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 20 | 24 | +20.0% |
| 2 Bedrooms | 56 | 76 | +35.7% |
| 3 Bedrooms | 52 | 58 | +11.5% |
| 4 Bedrooms | 23 | 30 | +30.4% |
| 5+ Bedrooms | 7 | 13 | +85.7% |
Summary: The San Mateo housing inventory by bedroom type for March 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 20%, 2 bedroom homes increased by 35.7%, 3 bedroom homes increased by 11.5%, 4 bedroom homes increased by 30.4%, and 5+ bedroom homes increased by 85.7%.
Number of Homes Sold
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 48 | 55 | +14.6% |
Asking Price vs. Sold Price
16 Homes Were Sold
Under Asking
6 Homes Were Sold
At Asking
31 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in San Mateo, you could pay more than the asking price. 58.5% of homes here sold above asking price last month.
Summary: A total of 55 homes were sold or pending in San Mateo in March 2024, up by 14.6% month-over-month. Of the 53 sold homes, 30% were sold under asking, 11% were sold at asking, and 58% were sold over asking.
Days on Market for San Mateo, CA
How long does it take to sell a home in San Mateo, CA?
Average Sale Time
| Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|
| 27 Days | 46 Days | +70.3% |
Summary: Homes in San Mateo had an average of 46 days on market in Mar 2024, up by 70.3% compared to last year.
Breakdown of Home Sale Times
42 Homes Were Sold
Under 30 Days
4 Homes Were Sold
In 30 - 90 Days
4 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in San Mateo are selling fast, if you're buying plan to act quickly.
Summary: During March 2024, 55 homes were sold in San Mateo; 76% of homes were sold within 30 days, 7% of homes were sold within 30 to 90 days, and 7% of homes were sold over 90 days.
Based on information from California Regional Multiple Listing Service, Inc. and /or other sources. All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy. The data contained herein is copyrighted by CRMLS and is protected by all applicable copyright laws. Any dissemination of this information is in violation of copyright laws and is strictly prohibited. 
Listings on this page identified as belonging to another listing firm are based upon data obtained from the SFAR MLS, which data is copyrighted by the San Francisco Association of REALTORS©, but is not warranted. IDX information is provided exclusively for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Listing Broker has attempted to offer accurate data, but buyers are advised to confirm all data provided. All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information.