Conditions across Santa Clara, San Mateo, San Francisco, and Alameda Counties remain fundamentally favorable to sellers, but the market is gradually rebalancing. Year-over-year sales declined roughly 4%, with median prices showing modest softening — particularly in San Mateo County, where single-family homes averaged near $1.9 million.
Notable Metrics
Homes are averaging 24 days on market, up from 16 previously. Inventory sits at roughly 1.7 months in San Mateo County, the sales-to-list-price ratio is just below 99%, and mortgage rates hover around 6.5% for 30-year fixed loans.
The Takeaway
Declining interest rates and gradually increasing inventory are creating more balanced conditions, giving both buyers and sellers enhanced negotiating flexibility — even as sellers retain the overall advantage.