With the clocks springing forward, the energy of the Spring selling season is in full swing. More homes are hitting the market, but demand is still outpacing supply, especially in the most competitive price ranges. The hottest segment? Entry-level homes—but what qualifies as "entry-level" varies significantly depending on the city. One thing remains consistent, though: many homes across the Peninsula are receiving multiple offers, sometimes 20 or more, and selling well above the asking price.

San Mateo County

A look at San Mateo County sales from January 1 through March 7 shows just how many closed escrows there have been and how many have sold over list:

2025: 401 homes sold; 62% above list price

2024: 432 homes sold; 52% above list price

2023: 361 homes sold; 39% above list price

Interesting to note: in 2023 and 2024, 91% of over-asking sales were on homes listed under $3 million. In 2025, that number is 88%. Even the higher-end homes are selling over list. 

Santa Clara County

A look at Santa Clara County sales for the same period shows just how many closed escrows there have been and how many have sold over list:

2025: 953 homes sold; 70% above list price

2024: 947 homes sold; 68% above list price

2023: 788 homes sold; 48% above list price

Interesting to note: in 2023 and 2024, 95% of over-asking sales were on homes listed under $3 million. In 2025, that number is 86%. Even the higher-end homes are selling over list. 

The Takeaway 

The trend is clear—not only are more homes selling over asking, but competition remains strong. 

What does this all mean? The market is even more competitive than last year. For sellers, now is a prime opportunity, and demand remains strong even in the higher price ranges. For buyers, having the right strategy and guidance is essential in such a fast-moving market. Our experts in both selling and buying are here to help you. Reach out anytime.