San Mateo’s housing market continues to demonstrate resilience and growth, reflecting broader trends in the Bay Area. Recent data indicates a competitive landscape for both buyers and sellers.
Current Market Trends
As of June 2026, the median sale price for homes in San Mateo reached $1.8 million, marking a 13% increase from the previous year. Homes are selling swiftly, with an average of 13 days on the market, and often receiving multiple offers. Notably, 68.8% of sales have closed above the listing price, underscoring the high demand in the area.
Rental Market Insights
The rental sector mirrors this upward trajectory. The average rent in San Mateo stands at $3,667, a 6.1% rise over the past year. This trend highlights the city’s appeal to renters and the competitive nature of the rental market.
Upcoming Residential Developments
To address the growing demand for housing, several residential projects are underway:
Bayshore Commons
Located at 1650-1720 S. Amphlett Boulevard, this development involves demolishing an existing office campus to construct 256 for-sale units. The project comprises 192 townhome-style condominiums and 64 single-family detached residences, aiming to diversify housing options in the area.
1770 S. Amphlett Boulevard
This project proposes replacing a vacant hotel with 234 residential units, including 159 three-story townhomes and a six-story multifamily building with 75 apartment-style units. Notably, 57 of these apartments are designated as affordable housing for low-income residents.
477 E. Hillsdale Boulevard
On a 3-acre site, plans are in place to replace the closed Hillsdale Inn and associated facilities with a seven-story multifamily and townhome development, adding 278 residential units to the market.
These developments reflect San Mateo’s proactive approach to expanding housing availability and accommodating the needs of its growing population.
For those considering entering the San Mateo housing market, staying informed about these trends and upcoming projects is essential. Whether buying, renting, or investing, understanding the local landscape will aid in making informed decisions.