Is San Mateo, CA 94401 a buyer’s or seller’s market?

The San Mateo housing market right now

In the three months ending August 31, 2026, 34% of homes in San Mateo, CA 94401 sold above their list price, the typical home went under contract in 29 days and there were 1.8 months of supply. Under four months of supply means sellers have the edge: expect competition for well-priced homes. That’s based on 61 home sales.

Compared with the same period a year earlier, the share selling over asking was about the same (33% then), homes sold faster (40 days then) and the median sale price held steady to $1,199,481. Overall, San Mateo is more competitive than a year ago, so tougher for buyers.

Within San Mateo County, homes here sell more slowly than in 77% of the county’s ZIP codes, and sell less often over asking than in 73%. On our competition score, San Mateo ranks #192 of 1,069 CA ZIP codes with enough sales (score 79 out of 100).

Nearby, buyers who want less competition could look at San Gregorio 94074 (0% sold over asking) or Pescadero 94060 (0% sold over asking), while South San Francisco 94080 (71% sold over asking) and San Mateo 94403 (69% sold over asking) are even more competitive.