Thinking about buying one of the luxury homes in San Mateo county priced between $4 million and $7 million? This guide walks you through exactly where those properties exist, which neighborhoods deliver the best value, and the on-the-ground details most searches miss. I’ll share hard data on recent sales, neighborhood-by-neighborhood insights, what your money buys at different price points, and practical advice on financing and negotiation for luxury homes in San Mateo county.
Table of Contents
- Introduction
- Quick San Mateo County Market Snapshot
- Burlingame: The Local Favorite With High-End Pockets
- Hillsborough: Acreage, Privacy, and the Peninsula’s Largest Lots
- San Mateo: San Mateo Park and Baywood Are Your Sweet Spots
- San Carlos and Belmont: Smaller Pools of Inventory With Isolated Gems
- Practical Negotiation and Financing Advice
- How Long Should You Plan Before Buying?
- Checklist: What to Inspect on High-End Peninsula Homes
- San Mateo County Neighborhood Quick Reference Cheat Sheet
- Final Thoughts and Next Steps
- FAQs About Luxury Homes in San Mateo County
Introduction
If you’re reading this, you’re probably seriously considering a luxury purchase on the Peninsula in the $4M–$7M band — whether as a primary home for your family, a relocation buy, or an investment. This introduction will orient you to how to use the guide and what to expect: hard numbers from recent sales, neighborhood-by-neighborhood notes (down to the streets and pockets that matter), and practical buying guidance — financing, offer strategy, and inspection priorities — drawn from two decades of local experience.
Quick note on what’s inside and why it’s reliable: the data and examples below are compiled from recent MLS activity and local closed sales through 2025 and focus on the towns where $4M–$7M homes actually trade with any regularity — Burlingame, Hillsborough, San Mateo, San Carlos, and Belmont. Where sample sizes are small I’ll flag that so you treat medians as directional rather than definitive. Throughout you’ll find street-level color, typical lot and floor-plan tradeoffs, and specific features that can move price by hundreds of thousands — or even seven figures.
If you want printable maps or a custom, apples-to-apples search for your must-haves, reach out — I can build a targeted list that reflects exactly what you care about (flat yard, schools, walkability, views, etc.).
Quick San Mateo County Market Snapshot
Before we dive neighborhood by neighborhood, here are the headline numbers for recent years so you can understand supply and competition when shopping for luxury homes in San Mateo county:
- Sales in the $4M–$7M range last year by town: Belmont 6, Burlingame 23, Hillsborough 68, San Carlos 15, San Mateo 17.
- Total homes sold in those towns (context): Hillsborough 102, San Carlos 216, San Mateo 515 (San Mateo has roughly 100,000 people).
- Percentage of each town’s sales that were in the $4M–$7M tier: Belmont about 3%, Burlingame ~14%, Hillsborough ~66% of the high end market activity, San Carlos ~7%, and San Mateo ~3%.
- Sales-to-list-price behavior: high-end homes are selling over asking, just like the rest of the market. For example, certain luxury homes in Belmont averaged about 107% of asking.
- Median sizes: typical homes in this price band across these towns are generally in the low to mid 3,000 square foot range.
What this means for buyers: even at higher price points there is strong demand. Cash is helpful but not essential. In Hillsborough roughly 30 to 35 percent of buyers paid cash last year, so most buyers still use financing. If you can be flexible—pay cash to win an offer and then place debt on the property post-close—you will be in a stronger negotiating position when purchasing luxury homes in San Mateo county.
How to think about prices and value
Median sale prices in 2025 for the $4M–$7M segment were roughly:
- Belmont: about $4.5 million
- Burlingame: about $4.5 million
- San Carlos: about $4.3 million
- San Mateo: about $4.5 million
Remember these medians are based on relatively small sample sizes for some towns, so use them as directional guidance rather than precise guarantees. If you want a true apples-to-apples comparison of finishes, lot, and floor plan you will need a custom search or a tour. One important concept: floor plan and lot topography drive seven-figure differences. An exceptional floor plan that opens to a yard, or a flat lot versus a sloped one in Hillsborough, can change price dramatically.
Burlingame: The Local Favorite With High-End Pockets
Burlingame is a unique market when considering luxury homes in San Mateo county. I grew up here and I’ve been doing real estate across the county for two decades, so I speak from both data and neighborhood experience. For luxury buyers Burlingame offers two primary pockets where homes over $4M cluster: Burlingame Park and Easton Addition.
Burlingame Park sits walking distance to downtown Burlingame and offers some of the highest-priced real estate on the peninsula. It’s where a recent outlier sale closed at $17 million. Easton Addition is the next-most expensive pocket, with repeat high-end activity, and the MLS sometimes groups parts of Burlingame Park and Easton Addition together.
What $4M to $5M gets you in Burlingame depends a lot on lot size and flatness. In flat neighborhoods west of El Camino you often see 5,000 to 6,000 square foot lots. That allows for impressive one-level homes or high-end new construction in the mid-$4M range. If you want larger lots you will pay more, but flat Pancake-Flat lots are rare and therefore command higher per-square-foot prices.
Notable sub-areas in Burlingame to know for luxury buyers looking at luxury homes in San Mateo county:
- Burlingame Park / Easton Addition — walkability and large lots for the city; most expensive neighborhood.
- Ray Park and Upper Ray Park — occasional large lots and one-level estate homes; rare but excellent value when they appear.
- Lion Hill and Burlingables — some new construction has traded in the $4M range on better streets.
Hillsborough: Acreage, Privacy, and the Peninsula’s Largest Lots
If your aim is acreage and privacy, Hillsborough is the single best place to look for luxury homes in San Mateo county. In this price band Hillsborough accounted for the bulk of luxury sales last year, and for good reason: typical Hillsborough lots are on the order of half an acre, roughly 21,000 to 22,000 square feet, and there are pockets with larger parcels and even acre-plus properties.
Hillsborough is not a single uniform market. Topographic differences matter. If you want flat, walkable large lots look in Hillsborough Heights, Brewer, and pockets near Bridge Road, and similar streets. That flatness combined with walkability is the holy grail and typically pushes values into the 8–10M and up range. If you are comfortable with hillside lots you will find more inventory in the $5M–$7M band—but you must accept slope, wind, and in some places freeway noise from 280.
Key tips for Hillsborough buyers interested in luxury homes in San Mateo county:
- Decide early whether you must have a flat yard. Most buyers say they want flat; very few ask for hillside backdrops only.
- Know that floor plan and lot topography drive millions in value. A great modern plan that opens to a yard can add multiple seven figures.
- Expect more pools in Hillsborough—roughly 55 percent of homes have pools—so decide if you want one or are comfortable removing it.
Neighborhoods and streets to focus on:
- Hillsborough Heights and Brewer — most sought after for flat lots and privacy.
- Lakeview neighborhood — steeper streets but some of the best views and value pockets.
- Robinwood, Darrell, Barbara, and the Carolands pocket — beautiful streets with significant estates.
- Geri Lane — famous for trick-or-treating and a gorgeous block that exemplifies the Hillsborough vibe.
San Mateo: San Mateo Park and Baywood Are Your Sweet Spots
San Mateo is huge compared to the other towns in this guide, and for the $4M–$7M range two specific neighborhoods dominate the market: San Mateo Park and Baywood (Aragon area). If you want walkability to downtown and larger lots for your dollar, San Mateo Park is an exceptional option.
San Mateo Park offers lots in the 8,000 to 12,000 square foot range more commonly than Burlingame, meaning you often get more yard and separation for your money. Architecturally the park contains many older homes with character—Spanish, Mediterranean, classic details and remodeled interiors are common. Because the lots are larger, you may find more opportunity to add an ADU, expand, or build a new plan if allowed.
Baywood and Aragon neighborhoods also make the list because they offer stately older homes, walkability to downtown San Mateo amenities, and strong schools. Baywood stands out because you can walk to elementary school, middle school, and Aragon High School—rare on the peninsula. For buyers focused on families and school proximity when buying luxury homes in San Mateo county, Baywood is an attractive choice.
San Carlos and Belmont: Smaller Pools of Inventory With Isolated Gems
San Carlos and Belmont each produce far fewer $4M–$7M sales than Burlingame or Hillsborough, but when they appear they can be great value relative to location and lot size. San Carlos had about 15 sales in the $4M–$7M range last year and tends to offer a handful of high-quality listings every year, sprinkled across Beverly Terrace, Howard Park, and parts of White Oaks and Burton Park.
Notable San Carlos facts for luxury buyers:
- Values in San Carlos are very localized. A flat 5,000 square foot lot on a trick-or-treat central street like Eucalyptus will command a premium.
- Example high-end sale: 920 Heather sold for $5.198M on an 8,400T lot—showing what remodeled, flat properties can fetch.
Belmont produces even fewer sales in this bracket—often only a handful annually. The $4M+ properties in Belmont cluster around the Hallmark neighborhood and Belmont Woods where you get flatter lots, sidewalks, and a slightly more grid-like street pattern. Those pockets often feel more walkable and civilized compared with more forested, windy parts of Belmont.
Why consider San Carlos or Belmont? For many buyers the decision is about tradeoffs: in these towns you can sometimes get larger, flatter lots or newer construction for less than equivalent properties in Burlingame, while still staying on the peninsula and close to core amenities.
Practical Negotiation and Financing Advice
Because there is strong buyer demand for luxury homes in San Mateo county, prepare to be competitive:
- Cash is king. If you can offer cash you are more likely to win in a multiple-offer situation and can close in 7 to 10 days. But cash is not necessary—most buyers across the peninsula still use financing.
- Show pre-approval and a quick timeline. If you are financing, get a strong pre-approval and be ready to show proof of funds for your down payment.
- Think about floor plan and topography. If you know you must have a flat yard or an open kitchen-to-yard plan, communicate that to your agent and focus only on homes that match those must-haves. Floor plan can swing price significantly.
- Use contingencies wisely. In a competitive market, limiting contingencies may help, but always weigh the risk and consult your agent and attorney.
How Long Should You Plan Before Buying?
Most buyers I work with are planning this move 6 to 12 months in advance. Use that time to:
- Get clear on neighborhoods and non-negotiables (flat lot, walkability, school proximity).
- Secure pre-approval and tidy up any paperwork lenders ask for.
- Start touring and reviewing floor plans and lot topography in person—many details like freeway noise, slope, and microclimate are hard to judge from photos.
- Decide whether to use a local experienced agent who knows the peninsula micro-markets for luxury homes in San Mateo county. Local knowledge matters.
Checklist: What to Inspect on High-End Peninsula Homes
When touring homes priced $4M–$7M, prioritize these items:
- Topography: Is the yard flat, terraced, or steep? Flat yards usually add value and utility.
- Floor plan flow: Does the kitchen open to the family and yard? Great open plans can add considerable value.
- Views and privacy: Are there protected views or future development risks?
- Pool condition: Does the pool need repair or removal? Pools are common in Hillsborough but can be modified.
- Noise and wind: Note freeway proximity (especially to 280) and hilltop winds that can affect comfort and noise levels.
- Walkability: How close is the property to downtown amenities, parks, and schools?
San Mateo County Neighborhood Quick Reference Cheat Sheet
Short list of the best places to search for luxury homes in San Mateo county and what they buy you:
- Burlingame Park / Easton Addition — Walkability, high-end finishes, smaller but flat lots; best for those who want downtown access and classic curb appeal.
- Hillsborough — Biggest lots and privacy; best for buyers prioritizing land and secluded estates.
- San Mateo Park — Larger lots for the price, older character homes with scope to remodel; best for buyers who want more yard and architectural charm.
- Baywood / Aragon — Family-centric walkable neighborhoods with strong schools.
- San Carlos — Selected pockets of high-value flat lots and strong remodeled homes; best for buyers balancing value, schools, and proximity to Woodside commute corridors.
- Belmont — Hallmark and Belmont Woods provide flat sidewalks and canyon-facing private lots; best for buyers who prefer a woodsy feel with occasional flat, walkable streets.
Final Thoughts and Next Steps
Luxury homes in San Mateo county are in limited supply and high demand. Your search will be most successful if you define your priorities (lot topography, school access, walkability), secure strong financing or cash readiness, and work with a local agent who knows the micro-markets and exact streets buyers overlook. I have free, in-depth city breakdowns and printable neighborhood maps that many buyers find useful before they commit time to touring properties. Use a measured plan, and be prepared for competition even at higher price points.
Want a printable neighborhood map (streets, schools, parks, lot notes) for any town or pocket in this guide? Reach out and I’ll send the PDF plus an optional custom apples‑to‑apples search for your must‑haves. Email hello@burlingameproperties.com, call or text 650‑822‑7088 , or schedule a time at burlingameproperties.com — tell me which neighborhood(s) you want and I’ll get the printable to you right away.
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FAQs About Luxury Homes in San Mateo County
How many $4M–$7M homes sold in each town last year?
Last year there were roughly: Belmont 6, Burlingame 23, Hillsborough 68, San Carlos 15, and San Mateo 17. These numbers reflect how concentrated luxury activity is by town.
Are luxury homes in San Mateo county selling over asking?
Yes. The high-end market has been competitive; some homes in this price range are selling over list price—Belmont averages have shown about 107% of asking in certain segments.
Is cash required to buy a $4M–$7M home?
No. While cash gives a significant advantage because it allows quick closing and greater negotiating leverage, the majority of buyers still finance purchases. In Hillsborough about 30–35% of buyers paid cash last year.
What neighborhood gives the most land for the money?
Hillsborough generally offers the largest lots on the North Peninsula. San Mateo Park can also provide larger lots than Burlingame for similar dollars, often in the 8,000 to 12,000 square foot range.
How should I prioritize features when searching?
Prioritize non-negotiables: flat lot versus hillside, a specific floor plan (open kitchen/great room), school district, and walkability. Floor plan and lot topography are the two features most likely to cause large price differences.
What are common hidden costs for these homes?
Expect maintenance for pools and large yards, possible hillside stabilization or drainage improvements in sloped lots, and permit-related costs for major remodels or additions. Property taxes are higher proportionally at these price points as well.
Where can I get more neighborhood maps and data?
I provide printable maps and detailed city breakdowns for San Mateo County neighborhoods that many buyers find useful. Reach out to your agent or visit local real estate community resources for the most recent data and maps.
How long does it take to find and buy a luxury home in San Mateo county?
Many buyers plan 6–12 months ahead. That timeline lets you refine neighborhood choices, gather financial documents, and be ready for opportunities when they arise. Competitive offers and quick closings are common, so being prepared is essential.
