By Paarth Shah, REALTOR® · July 1, 2026 · The Peninsula (San Mateo County)
The short answer for San Mateo County is: it depends on what you're buying. In 2026 the Peninsula has effectively been two markets moving in different directions, and averaging them together hides what's actually going on.
On the single-family side, prices have been firm to rising. Reports for early 2026 put the San Mateo County single-family median near $1.93M, up in the mid-single-digit percentages year over year, with homes frequently selling above list price. Redfin's countywide median (which blends property types) was around $1.8M over a recent three-month window, up modestly from a year earlier. The drivers are familiar: steady tech and biotech employment, and a persistent shortage of detached houses.
Condos and townhomes have told a different story. Multiple sources show the county condo median down roughly 8-9% year over year, with longer days on market. If you're a first-time buyer looking at a condo, that softer segment may actually work in your favor; if you're selling one, it argues for realistic pricing and preparation rather than assuming last year's comps.
A word of caution on the numbers. You'll see figures ranging from roughly $1.8M to $2.6M depending on the source, the month, and whether condos are included. Those aren't contradictions so much as different slices. A countywide three-month median and a single-city single-family median for one month are simply not the same measurement, and neither predicts what a specific home in Burlingame, San Mateo, or Redwood City will do.
Forecasts I've seen call for modest movement in 2026, often in the low-single-digit range, as rates and inventory gradually normalize. I'd treat those as scenarios, not guarantees. Rates can shift, and inventory on the Peninsula is thin enough that a handful of listings can swing a monthly figure.
If you want help comparing specific scenarios against your situation, reach me through the contact page or at paarth@homesbypaarth.com.
Single-family home prices have been firm to rising (mid-single-digit gains in early 2026), while condos and townhomes have softened by roughly 8-9% year over year. The direction depends on the property type and city.
Sources
This is general market commentary, not financial, investment, or legal advice; figures are as of publication and can change. Verify specifics, including any school assignments, ratings, or boundaries, independently. Homes by Paarth is committed to Equal Housing Opportunity and does not steer clients toward or away from any neighborhood on the basis of a protected characteristic.