San Mateo’s real estate market continues to demonstrate resilience and growth, characterized by rising home prices and a competitive environment. As of March 2026, the median sale price for homes in San Mateo reached $1.7 million, marking a 9.2% increase from the previous year. Homes are selling swiftly, averaging 13 days on the market, with many receiving multiple offers. This trend underscores the strong demand and limited inventory in the area.
New Developments on the Horizon
Several new residential projects are set to enhance San Mateo’s housing landscape:
230 S. El Camino Real – Mixed-Use Development
Approved by the Planning Commission in February 2026, this five-story building will feature 28 residential condominium units, including four affordable units for moderate-income households, alongside 1,572 square feet of ground-level commercial space. The development aims to revitalize a previously vacant lot at the corner of N. El Camino Real and W. 3rd Ave.
Bayshore Commons at 1650-1720 S. Amphlett Boulevard
Replacing a seven-building office campus, Bayshore Commons will introduce 256 residential units, comprising 192 townhome-style condominiums and 64 single-family detached residences. This project reflects a strategic shift from commercial to residential use, addressing the growing housing demand in San Mateo.
Peninsula Heights
Located in the hills of San Mateo, Peninsula Heights is a master-planned community featuring 290 homes. The development includes single-family homes, townhomes, and townhomes over flats, designed to integrate seamlessly with the surrounding neighborhoods while offering modern amenities and improved views.
Implications for Buyers and Renters
The combination of rising home prices and new developments presents both challenges and opportunities for prospective buyers and renters. The competitive market necessitates preparedness and flexibility, while upcoming projects may offer additional options in the near future. Staying informed about market trends and forthcoming developments is crucial for making well-informed decisions in San Mateo’s dynamic real estate environment.