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San Mateo 2026 April Market Update

Despite significant negative economic effects from the Iran war – rising interest rates; volatile financial markets; soaring oil and gas prices; and fears of increased inflation – Bay Area real estate markets saw relatively little impact in March. What effects that occurred usually impacted less expensive markets more sensitive to interest rate increases. It is also possible that some sellers may have delayed listing their homes as they waited for more clarity regarding economic conditions. But so far, there has been no reaction comparable to what occurred last year with the tariff shock, and as of April 8 th , virtually all economic indicators were turning in positive directions with the cease fire announcement. The number of listings going into contract, total sales and luxury home sales in March climbed significantly month over month and year over year, but the number of listings for sale did not keep pace. As buyers competed for an inadequate supply of homes for sale, the absorption rate and overbidding increased and listings sold faster. This pressure of rising demand may lead to increased price appreciation in the second quarter. As has been the case for the last 2 years, affluent markets typically remained more heated than less expensive markets, and house markets considerably stronger than condo markets.