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're weighing a purchase or sale here, the practical step is to look at comparable sales for your exact city and property type rather than a county headline. I'm glad to pull those and walk through them with you, no obligation, at paarth@brokerbela.com or via the contact page.
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. Bela Realty & Investments is committed to Equal Housing Opportunity and does not steer clients toward or away from any neighborhood on the basis of a protected characteristic.