San Mateo County – Q3 2025 Market Overview

San Mateo’s inventory pulled back in Q3 after peaking above 1,000 listings earlier this year—the highest level since mid-2022. By September, active listings settled in the mid-800s, still elevated compared to early 2025. Sold listings dipped modestly, keeping absorption subdued, with a slight increase in September. Median sales prices held in the mid-$1.6Ms, while price per square foot eased to around $1,100. Days on market ticked up into the mid-30s, suggesting a cooler pace as buyers take longer to commit.