Peninsula Market Update: Week of October 19, 2026

This Week's Market Snapshot

• Burlingame: Homes are selling at 107% of list price. The median sale price is $3,495,500, average days on market sit at 38, and single-family supply is under 1 month.
• San Mateo: The median sale price is $1,519,500, with 44 average days on market. One city-level table shows a 106% list-to-sale ratio, while a September table shows 108.9%.
• Rates: The 30-year fixed is 7.40% and the 15-year fixed is 6.71% for the week of October 15, 2026, according to Freddie Mac via FRED.

One quick caveat. Fresh figures aren't available for every city this week, so I'm only reporting what the data supports.

Burlingame and San Mateo: Bidding Still Beats Rates

Burlingame is the headline. A 107% list-to-sale ratio with less than a month of single-family supply tells you buyers are competing for very few homes. As a Burlingame real estate agent, I see this play out on well-prepared listings in neighborhoods across Burlingame. The 7.40% rate hasn't cooled that demand.

San Mateo is busy too. There were 46 closed sales in the last 30 days, so buyers are clearly writing offers. Be careful comparing the two medians, though. They come from different sources and may not be defined the same way. The 106% and 108.9% ratios also come from tables with different definitions. As a San Mateo real estate agent, I'd read both as one message: priced right, homes sell above asking.

Foster City: Fewer Listings, Not Fewer Buyers

Foster City had just 21 active listings and 1.6 months of supply. That scarcity is the story.

New listings fell 53.1% year over year, with only 15 hitting the market in September 2026. Active listings are down 34.4%. Yet sales slipped by just 5, with 13 closings in September. Buyers are still showing up. There's simply less to buy.

The sale-to-list ratio is 102.9%, up 0.3 points. Average days on market are 38, up 8.6% year over year.

You may see a "typical list price down 17.7%" figure. I wouldn't over-read it. It's a different measure from the sale-to-list ratio, which is still above 100%, so it isn't a price cut buyers can count on.

Hillsborough: Where Negotiating Room Shows Up

Hillsborough is the exception. Homes sold at 98.7% of list, up 2.2 points year over year. The average sale price was $8.60M against an $11.74M average list price.

There were 16 active listings, down 23.8%. Average days on market dropped 68.9% to 23. Homes that are priced well move quickly.

That 173.2% jump in average list price looks dramatic, but I'd be cautious about reading it as appreciation. Average figures can swing a lot when there are only 16 active listings.

Cities Without Fresh Data: What We Can and Can't Say

This week I don't have reliable city-level figures for San Bruno, Millbrae, Belmont, San Carlos, Redwood City, Atherton, or Menlo Park. Missing data means unreported, not zero. Markets like hillside Belmont can vary street by street anyway, so a custom comp analysis tells you far more than a city average would.

What This Means for Buyers & Sellers

Buyers: At 7.40% on a 30-year fixed, your monthly payment sets your real ceiling. Get a lender-verified payment, then compare it to the 15-year at 6.71%. In Burlingame and San Mateo, plan to offer above asking. In Hillsborough, a below-list offer is worth testing. My first-time buyer tips cover how to prepare.

Sellers: Low supply works in your favor, especially in Foster City with only 21 active listings. Pricing still matters. Days on market of 38 to 44 in Burlingame, Foster City, and San Mateo show buyers are selective. These lessons from Peninsula sellers can help you avoid common missteps.

Both: City averages blend very different homes. A property-specific comp review is the clearest way to set your price or your offer this fall.