San Francisco, San Mateo & Santa Clara Counties
As we move through the summer, the Peninsula housing market continues to show resilience despite ongoing economic uncertainty. While buyers are taking a more thoughtful approach than in previous years, demand remains healthy—particularly in desirable neighborhoods with limited inventory.
Market Highlights
- San Francisco continues to lead the region, with the median single-family home price reaching $2.05 million, a remarkable 26% increase year over year. The city’s AI-driven job growth and renewed buyer confidence continue to fuel demand.
- San Mateo County remains one of the strongest markets on the Peninsula. The median single-family home price climbed to $2.123 million, up 11% from a year ago, reflecting continued demand for homes in highly desirable communities.
- Santa Clara County remains steady, with the median single-family home price at $1.90 million, essentially unchanged from last July. While price growth has moderated, well-priced homes continue to attract strong buyer interest.
A More Deliberate Market
Unlike the fast-paced market of recent years, today’s buyers are taking more time before making offers. Strong stock market performance has allowed many Bay Area buyers to keep their wealth invested while carefully evaluating housing opportunities. At the same time, uncertainty around interest rates, the economy, and the technology job market has encouraged buyers to be more selective.
This doesn’t mean demand has disappeared. Open houses remain well attended, and homes that are properly prepared, strategically priced, and located in desirable neighborhoods continue to sell quickly.
What This Means for Buyers
Today’s market offers buyers something that has been rare in recent years—time to make thoughtful decisions. While desirable homes still receive strong interest, buyers generally have more opportunity to compare properties and negotiate than during the height of the pandemic market.
For condo buyers, recent lending guideline changes from Fannie Mae and Freddie Mac have placed greater emphasis on the financial health of homeowners associations. Well-managed buildings should continue to perform well, while buyers should carefully review HOA reserves, insurance, and upcoming special assessments before making an offer.
What This Means for Sellers
Although buyers are moving more cautiously, properly marketed homes continue to perform well. Preparation, professional marketing, and strategic pricing are more important than ever. Sellers who understand today’s buyer expectations are still achieving excellent results, especially in neighborhoods with limited inventory.
Looking Ahead
The Bay Area continues to benefit from strong long-term fundamentals, including a thriving technology sector, limited housing supply, and highly desirable communities. While interest rates and the broader economy will continue to influence buyer sentiment, the Peninsula remains one of the country’s most resilient housing markets.
Whether you’re thinking about buying, selling, downsizing, or investing, understanding your local neighborhood trends is essential—market conditions can vary significantly from one city, and even one neighborhood, to the next.
Thinking About Making a Move?
Every real estate decision is personal. Whether you’re curious about your home’s current value, considering a move, or helping a family member navigate today’s market, I’d be happy to help.
📅 Schedule a complimentary consultation to discuss your goals and create a personalized strategy for today’s market.
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