Search homes for sale in San Mateo, CA with The Sternsmith Group.
San Mateo’s housing market is highly competitive, with homes typically receiving an average of four offers and selling in approximately 34 days. Last month, the median home sale price in San Mateo reached $1.4 million, reflecting an 8.4% increase compared to the previous year. Additionally, the median price per square foot rose to $921, marking a 7.2% year-over-year growth.
Median Sale Price
Median Sale Price per Sq. Ft.
Total Homes Sold
Median Days on Market
In December 2024, home prices in San Mateo saw an 8.4% increase compared to the previous year, with the median sale price reaching $1.4 million. While the market remains competitive, homes took slightly longer to sell, averaging 34 days on the market compared to 26 days the previous year. This shift suggests buyers may be taking more time to make decisions despite strong demand. Additionally, 58 homes were sold in December, an increase from 52 the previous year, indicating a steady flow of transactions despite evolving market conditions.
San Mateo’s real estate market remains highly competitive, with homes selling in an average of just 20.5 days. Many properties receive multiple offers, with some buyers waiving contingencies to secure a deal. On average, homes sell for approximately 3% above the listing price and go under contract within 21 days. Particularly desirable properties—often referred to as "hot homes"—can sell for as much as 9% above the asking price and go pending in as little as 12 days, highlighting the strong demand in this sought-after market.
In December 2024, San Mateo, CA remained a strong seller’s market, with demand outpacing the available housing supply. This imbalance means that competition among buyers is high, often leading to multiple offers and homes selling quickly. With limited inventory and sustained interest from buyers, sellers in San Mateo are well-positioned to receive favorable offers, often above the asking price.
Whether you have questions about the San Mateo real estate market or you're ready to find the perfect home, we're here to help. With expert insights and personalized guidance, we’ll make your home-buying journey smooth and stress-free. Reach out today to explore available listings, discuss your options, and take the next step toward owning a home in San Mateo!
Thinking about making San Mateo your home? Explore our in-depth neighborhood guide to uncover everything this vibrant community has to offer. From top-rated schools and local dining to real estate insights and lifestyle amenities, we’ve got you covered. Start browsing now and find out why San Mateo is one of the most desirable places to live!
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