Hi friends,
Mid-September on the Peninsula: fog burns off by mid-morning, school routines have settled in, and the light turns gold an hour earlier than it did in July.
August did something quiet.
Fewer homes sold. San Mateo County closed 321, down from 366 in July. Santa Clara County closed 624, down from 711. Both counties down about 12 percent, the third month in a row.
More came to market. New listings rose in both counties.
And the ones that did sell drew stronger bids. San Mateo sellers averaged 107% of asking, up from 106%. Santa Clara averaged 103%, up from 102%.
Menlo Park told the clearest version of that story: 25 homes closed at a median of $3,610,000, up from $3,375,000 in July, and it took an average of 17 days, down from 22.
A practical note for the season: if you haven't walked your own irrigation lines and gutters yet, September is the month to do it, before the first real rain turns a small fix into a bigger one.
August is exactly the kind of month where the work is reading what the data actually says, line by line.
The full picture is below.
-Lisa
The August Report
San Mateo County - Market Housing Statistics
Single Family Residential | August 2026
San Mateo County Area Report
Santa Clara County - Market Housing Statistics
Single Family Residential | August 2026
Santa Clara County Area Report
From My Desk This Month
A few things I wrote or built this month, worth a look before your own number comes up in conversation.
August 2026 Silicon Valley Housing Market Report
The full county-by-county read behind the numbers above: fewer homes sold, more came to market, and the ones that closed drew stronger bids. Source: lisamlum.com
Read Article
Page One
My one-page pricing map, built for your own street. If you've ever wondered what your specific block is doing right now, this is the fastest way to find out. Source: lisamlum.com
See Page One
Home Price Benchmark Calculator
Now loaded with August data for 40 Peninsula and South Bay cities. Type in a city, see where it stands. Source: lisamlum.com
Try the Calculator
OpenAI Hits Pause. Should Bay Area Sellers Wait for AI Money?
OpenAI ruled out a 2026 listing, so the payday some sellers were timing around has moved. Seven minutes on what that changes for a listing date, and the one test to run before you pick one. Source: YouTube
Also Making the Rounds
$1M over-asking still isn't bringing more homes to market on the Mid-peninsula
Homes across Palo Alto, Menlo Park, and Atherton keep closing a million dollars or more over asking, and it's still not pulling more sellers off the fence. The Almanac's own numbers show new listings down and nearly eight in ten homes selling above asking across the three cities.
Source: The Almanac, September 15, 2026
Read the article
Menlo Park mayor invites Bonta to see the skyscraper fight up close
After the state's attorney general accused Menlo Park of illegally slow-walking a proposed high-rise at the old Sunset Magazine campus, the mayor invited him to come see the Willow Road site for himself. The proposal would bring 665 residential units and towers as tall as 458 feet to a stretch of the city most residents drive past without a second thought.
Source: The Almanac, September 14, 2026
Read the article
Bay Area vacation-market brokers are already prepping for AI IPO buyers
With several AI companies inching toward the public markets, brokers in Tahoe, Napa, and Carmel are watching SEC filings for names, building out teams of wealth managers and attorneys, and getting ready for a wave of newly liquid tech buyers the way earlier tech waves have already reshaped Peninsula neighborhoods.
Source: The Real Deal, September 15, 2026
Read the article
San Mateo County approves $24.3 million for affordable housing, 459 units in the pipeline
The county's Board of Supervisors sent funding to six developers building homes for the unhoused, seniors, farmworkers, and families needing two or three bedrooms, drawing mostly on Measure K dollars set aside for exactly this.
Source: Redwood City Pulse, August 26, 2026
Read the article
Enter Getaway Giveaway
 | A little something for your next fall getaway. I'm inviting you to enter our Getaway Giveaway, with up to $18,000 in Airbnb gift cards available to California residents. Eighteen winners receive $500, and forty-five receive $200. No purchase necessary, and entries close September 30 at midnight PT. Whether it's a coastal weekend or a cozy mountain cabin, I hope this helps you make a few memories somewhere new. |
Schedule a Call
Lisa M. Lum
DRE #02005150
Mobile: +1 (650) 668-1868 | Email: lisa.lum@cbrealty.com
Coldwell Banker Realty
1706 El Camino Real, Suite 220, Menlo Park, CA 94027
About Market Minute
Market Minute is Lisa M. Lum's monthly letter on Peninsula luxury living: the market, the neighborhoods, the homes, and the life around them. Subscribe free and it arrives once a month.