San Mateo County home prices rise as condo prices fall
Updated
Updated · San Mateo Daily Journal · May 2
San Mateo County home prices rise as condo prices fall
1 articles · Updated · San Mateo Daily Journal · May 2
In March, single-family homes reached California's highest county median at $2.18 million, up 6% year on year, while condos fell to $825,000, down from $887,000 in 2024.
Agents said AI-driven wealth, including Nvidia-linked buying in Redwood City, is lifting demand for $2.5 million to $3 million homes even in more modest neighbourhoods near Highway 101.
A 12% rise in listings has not eased the home shortage, but more multiunit housing, higher HOA fees, weak reserves and insurance costs are weighing on condo values and financing.
Could the AI-driven demand for single-family homes in San Mateo County be masking underlying vulnerabilities in the broader California housing market?
Will proposed capital gains tax reforms actually convince more homeowners in San Mateo County to sell, or are deeper factors keeping supply low?
How might soaring HOA insurance costs and new condo supply reshape the future of homeownership on the Peninsula?