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’ve been wondering how the San Mateo County housing market is doing, here’s the good news: despite broader Bay Area uncertainty, San Mateo continues to show strong demand and upward momentum. Whether you're a homeowner, buyer, or investor, this spring market is packed with insights you need to know.
Strong Buyer Demand
While economic uncertainty has made some buyers more cautious, San Mateo County continues to outperform other Bay Area markets. The median single-family home price rose 6% year over year, one of the strongest gains in the region.
Well-staged, move-in-ready homes—especially those priced aggressively—are seeing multiple offers and quick sales.
Inventory Rebounds
As of May 1, active listings were up 37% year over year, marking the highest level in over three years. But that doesn’t mean demand is slowing down—far from it. Buyers are responding to new options on the market. Listings going into contract rose 13% year over year, reflecting solid buyer activity across the county.
Overbidding Is Back
Sellers continue to hold the upper hand in many cases. In April, 67% of sales closed over asking price, and the average home sold for 4.5% above list price—the highest overbid rate since mid-2022.
Condo Market Softens
While single-family homes are hot, condo prices dipped slightly—about 1% lower than this time last year. This follows a broader trend across the Bay Area, but condos still offer a relatively affordable path to homeownership in a high-demand market.
Luxury Sales Surge
High-end homes are moving fast. In April, the county recorded the most $5 million+ sales since May 2022, including multiple $20M+ transactions in Atherton and Hillsborough.
Price Reductions Rise
Even in a strong market, not every home sells right away. In April, price reductions rose 34% compared to last year. While the percentage of reduced listings stayed stable, the actual number was the highest for April in six years.
Market Leaders by City
Over the past 12 months, these cities led in sales volume:
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South San Francisco: 511 sales
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Redwood City: 430 sales
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San Mateo (City): 312 sales
Top median home prices:
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Atherton: $7.9M
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Hillsborough: $5.5M
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Portola Valley: $4.3M
Click the image to view the full Comparative Bay Area Home Prices chart.
Key Takeaways
Buyers:
The number of homes for sale is finally increasing, giving buyers more options than we've seen in recent years. However, demand is still strong—especially for updated, well-priced homes—so competition hasn’t gone away. If you're planning to buy, make sure you're pre-approved and ready to act quickly when the right property comes up. Delaying decisions could mean missing out or entering a bidding war.
Sellers:
This spring remains an excellent window for selling. Homes in good condition that are professionally presented and competitively priced are attracting multiple offers and selling for over asking. With more listings coming to market, pricing your home correctly from the start is key to standing out and maximizing your return.
Investors:
San Mateo County continues to be a reliable market for long-term investment. Its central location, strong job market, and high rental demand contribute to price stability and appreciation. While the broader Bay Area has seen some fluctuations, this region has proven resilient—and still offers solid returns for those focused on long-term growth.
Click the image below to access the full report through the Flipping Book.
Let’s Talk Strategy
Every neighborhood and property is different. If you’re considering buying, selling, or investing, reach out today. I’d be happy to provide a custom strategy based on your goals and today’s data. Reach out to talk about your next steps—we’d love to be your trusted real estate team in San Mateo County and the Bay Area.
