We’re thrilled to bring you the latest scoop on our local real estate market for April 2025. As your go-to real estate experts in San Mateo County, we’re breaking down the numbers, so you can easily understand what’s happening. And if you’re ready to buy or sell in the San Francisco Bay Area, feel free to reach out—we’d love to help.
Let’s dive into the exciting changes we’re seeing!
What’s happening right now
If you’re curious about the current state of the San Mateo County real estate market, the latest numbers reveal a story of resilience and opportunity. While other Bay Area markets face mixed signals, San Mateo stands out with continued strength in demand, especially in the luxury segment. Whether you're planning to buy, sell, or simply stay informed, this update offers valuable insight into what’s moving the market this spring.
Mortgage Rates Show Little Relief — but Buyer Interest Persists
As of early June 2025, the average 30-year fixed mortgage rate sits at 6.85%, according to Freddie Mac. Despite hopes for declining rates this spring, volatility driven by economic uncertainty—including a recent tariff shock—has kept rates elevated.
However, buyers haven’t retreated. While rates remain a factor in affordability, the overall impact has been more about pacing than stopping demand altogether.
Strong Buyer Activity in a Balanced Market
While many Bay Area markets are seeing mixed signals, San Mateo continues to attract motivated buyers. The median single-family home price came in around $2,089,000 in May, holding steady with only a 1% year-over-year dip. For move-in-ready homes, demand remains high—especially when well-presented and priced correctly. Buyers continue to engage with confidence when the right property comes to market.
Homes Are Selling Faster
Spring 2025 brought a boost in buyer urgency. The average number of days on market dropped meaningfully, returning to seasonal norms seen during stronger spring markets. Well-priced, well-presented homes are moving quickly, particularly in core neighborhoods.
This is a clear indicator that demand remains solid, especially for move-in-ready listings.
Overbidding is Back
In May 2025, nearly 60% of homes sold above list price. For single-family homes, that figure was 65%. These numbers represent the highest overbid activity since 2022, showing just how competitive certain price segments and neighborhoods remain.
The takeaway: if your home is priced right and shows well, you may see multiple offers.
Luxury Sales Hit New Highs
Luxury home sales in San Mateo County soared in May, with more $5 million-plus properties closing than in any month since the pandemic-era peak in 2022. High-net-worth buyers remain active, particularly in areas like Atherton, Hillsborough, and Portola Valley.
This segment continues to outperform the broader market, driven by wealth migration, strong equity positions, and confidence in local value.
New Listings Show Seasonal Shift
May brought a slight dip in new listings from April but remained healthy compared to last year. This increase in options is giving buyers more breathing room and has likely contributed to a more measured sales pace.
Supply vs. Demand by Price Segment
Homes in the $1M–$2M range saw the lowest months-of-inventory, meaning they are in the highest demand relative to supply. Properties above $10 million had the most available inventory, making it more of a buyer’s market at the ultra-high end.
This breakdown helps sellers understand where pricing strategies matter most and helps buyers target the most competitive ranges.
Market Leaders by City
Over the past year, these cities led in total home sales:
-
South San Francisco: 511 sales
-
Redwood City: 430 sales
-
San Mateo: 312 sales
Top-tier median home prices:
-
Atherton: $7.9M
-
Hillsborough: $5.5M
-
Portola Valley: $4.3M
Click the image below to access the full San Mateo County market report and explore all the latest data in detail.
Key Takeaways
Buyers:
Inventory is finally catching up with demand, giving you more choice than in years past. But be ready—high-quality homes are still moving quickly. Get pre-approved and have your strategy in place so you can act decisively when the right property comes along.
Sellers:
It’s still a strong time to sell, especially if your home shows well and is priced strategically. With more listings hitting the market, standing out is essential. Homes that are thoughtfully marketed and move-in ready are still commanding premium results.
Investors:
San Mateo remains a long-term investment gem. Strong local fundamentals, continued luxury activity, and a highly desirable location make it a reliable market for appreciation and return.
Final Thoughts
San Mateo County’s market continues to be one of resilience, range, and long-term value. With more inventory, relatively stable pricing, and an uptick in high-end transactions, this spring season offers compelling opportunities for both buyers and sellers.
For those watching the market closely, it’s a good time to evaluate options and move with strategy. Whether upgrading, downsizing, or investing, understanding these local trends is key to making confident decisions in 2025.
