Hillsborough Real Estate, Burlingame and San Mateo: What $5M to $7M Buys in 2026
Hillsborough real estate, Burlingame and San Mateo give you 3 very different homes for $5M to $7M, and in 2026 there are far fewer of those homes to choose from on the San Francisco Peninsula. At the end of April, San Mateo County had 22 sales between $5M and $7M and just 1 home left for sale in that range, compared with 19 active listings a year earlier.
I'm Raziel Ungar, and I've helped over 600 buyers and sellers across San Mateo County. In this post, I walk through recent sales in this price range in all 3 towns, what each town gives you, and what you give up, so you know what your budget can buy and why you will need to move quickly when the right home comes up.
Why Is the $5M to $7M Market So Tight in San Mateo County?
The $5M to $7M market is tight because demand has grown while inventory has almost disappeared. The AI boom has created a new class of buyer on the Peninsula, which includes tech executives, early employees with RSUs at the frontier labs, and founders who have had recent liquidity events. Buyers from biotech, healthcare and finance are also shopping in this range.
Over the last 6 months, Burlingame, Hillsborough and San Mateo had just 22 sales combined in the $5M to $7M range. Demand is stronger than I have ever seen it, and I am seeing that strength at every price point from $800,000 up to $10M and above. One home in Hillsborough recently sold off MLS for $11M, and I recently sold another Hillsborough home off MLS for around $9M.
How Much Have Prices Per S/F Risen in 2026?
Price per s/f for single family homes in Burlingame, Hillsborough and San Mateo is up 8% in 2026, and that jump came by May. I pulled the price per s/f data for all 3 towns going back to 2012, and 2026 is the strongest appreciation this market has seen in the last 5 years.
Last year, the 3 towns were close on price per s/f. Hillsborough was at $1,494 per s/f and Burlingame was at $1,474 per s/f, so the $20 difference was basically a wash. The point for buyers is that every month you wait, you pay more for the house and more per s/f than the person who bought in January.
How Buyers Should Prepare at This Price Point
This market rewards preparation. You want to go through conditional underwriting approval before you start, because many buyers at this price point are paying cash. If you are not working with someone who knows the off MLS inventory, you could fall behind.
What Does $5M to $7M Buy in Burlingame?
In Burlingame, $5M to $7M buys a home in an established, walkable neighborhood, and most recent sales in this range were west of El Camino Real. Since March 1, Burlingame had 5 sales between $5M and $7M, and all but 1 of them were west of El Camino. Those 5 homes sold for $1,200 to $1,673 per s/f, and last year a home on Pepper sold for $17M, about $2,000 per s/f, after asking $14M.
Recent Burlingame Sales Between $5M and $7M
A home on Las Montes sold off MLS for $5.6M, and it is a 4 BR home with 3,700 s/f.
A home on Bloomfield in Lyon Hoag, half a block south of the residential part of Burlingame Avenue, asked $6.4M and sold for $6M before it ever hit the MLS. The main house is 3,586 s/f, and a 640 s/f ADU brings the total to 4,226 s/f on a 7,500 s/f lot. I saw this one in person, and I would give its condition an A minus or an A and its floor plan a solid A.
A 5 BR home on Bonito asked $5.4M and sold for $6M. It was listed in 2023 at $5,995,000 and dropped to $5,850,000 before it was pulled and offered for rent, so the seller did very well 3 years later. I would give the finishes a B+, and a buyer could move right in.
A home on Montero in Easton Addition has about 4,000 s/f on a double lot. The yard is beside the house rather than behind it, and part of it slopes up, but the location is excellent and the home was in very good condition.
What You Get and What You Give Up in Burlingame
Burlingame gives you downtown Burlingame Avenue and Broadway, walkability in the flat neighborhoods, top-rated schools and a lot of trees. The city has been a Tree City USA for over 30 straight years. Burlingame also has 2 big sources of tax revenue that many people do not know about: the SFO hotels, whose 14% occupancy tax brings in about $25M to $30M a year for the city's general fund, and the Burlingame auto row, which brings in about $5M to $7M a year.
What you give up in Burlingame at this price is privacy. These are very residential neighborhoods, and you will not get the quiet and space that Hillsborough offers.
What Does $5M to $7M Buy in Hillsborough Real Estate?
In Hillsborough, $5M to $7M buys more land and more privacy, but homes in this range are harder to find than homes above it. Hillsborough had 10 sales between $5M and $7M over the last 3 months, ranging from $1,129 per s/f to $2,246 per s/f. Across the same period, the town had 37 sales in total, and 21 of them were over $7M, so average and median prices are above $6M and there is less product in this range. For a closer look at this price point, see my post on what $5 million buys in Hillsborough vs. Burlingame.
Most Hillsborough lots are about 20,000 to 22,000 s/f, or about half an acre, although there are many exceptions. The flatter areas are generally more expensive, while the hillier neighborhoods give you more value, more access to 280, and a better chance of a view.
Recent Hillsborough Sales Between $5M and $7M
I was the listing agent on a home on Summit that closed for $5.15M. It is a 4 BR home with 3,600 s/f on an acre next to Hoover Elementary, and it has a flat backyard and a strong floor plan.
A home on Salmark Court, just south of Crystal Springs Road, is a 5 BR home with close to 5,000 s/f. It asked $5,288,000 and sold for $5.5M, which works out to $1,129 per s/f. It needs some work, but a buyer could move in.
A 4 BR home on Enfield Way has 3,800 s/f on a 32,000 s/f lot. Its backyard is beautiful and has a view, but it is on a lower level than the house.
A flat home with about 3,880 s/f on a 14,000 s/f lot asked $5,985,000 and sold for $6.7M. Its yard is very private and feels like a park, which you could not get in Burlingame at this price.
A 4 BR home on Forest View with 2,840 s/f on half an acre sold off MLS for $6.38M, or $2,246 per s/f. It is in a prime location, and my guess is that it sold close to lot value.
Why Floor Plan and Topography Drive Value in Hillsborough
In Hillsborough, the floor plan can move a home's value by 7 figures or more, even between homes with the same square footage. The topography of the lot matters just as much. A pancake-flat lot costs more than a lot where only 8,000 to 10,000 s/f is usable and the rest of the land is a hillside, so neither option is wrong, but they are priced very differently.
What you give up in Hillsborough at this price is flat, walkable living. A flat, move-in ready home is very hard to find under $6M to $7M, and lots in the Country Club neighborhood and the other flat areas can cost $5M to $6M on their own. If you want more privacy and quiet in this range, look up in the hills, such as the Carolands area, and try to stay a few blocks off 280 so you do not hear freeway noise in your backyard.
What Does $5M to $7M Buy in San Mateo Park?
In San Mateo, the $5M to $7M range means San Mateo Park, because all 3 recent sales in this range were in that neighborhood. Even when I widened the search to the last year and more, there were only 7 sales. San Mateo Park is one of my favorite neighborhoods in all of San Mateo County, and much of it is within walking distance of downtown Burlingame.
The neighborhood is almost all flat, and it has over 60 islands that are more than 100 years old. They were originally designed for horse and buggy traffic, and today they add space and beauty to the streets. San Mateo Park also has a huge variety of architecture, including Spanish, Mediterranean, Victorian and Craftsman homes, so no 2 streets feel the same.
Recent San Mateo Park Sales Between $5M and $7M
A 5 BR home on Edgewood with close to 3,400 s/f asked $5,888,000 and sold for $5.35M. Its kitchen opens directly to the yard, which helps value, although the yard itself is not large.
A 5 BR home with almost 4,000 s/f on a 10,000 s/f lot asked $6.6M and sold for about $1M under asking at $1,413 per s/f. The home was in very good condition, but it has utility poles nearby, which many buyers at this price do not like.
A home on Edgewood Road came on in February, asked $6,350,000 and sold for $6.5M. It has a covered portico, arches and a very big flat yard.
Who San Mateo Park Is Right For
San Mateo Park gives you strong value compared with Hillsborough and Burlingame. Burlingame buyers like it because they can get a larger, flat lot close to downtown Burlingame without paying the Burlingame premium. Hillsborough buyers like it because an 8,000 to 10,000 s/f lot is plenty for them compared with the typical 5,000 to 6,000 s/f lot in Burlingame, and they do not need half an acre.
Which SF Peninsula Town Fits a $5M to $7M Budget?
The right town depends on how you want to live, because all 3 offer a very different home at the same price on the SF Peninsula.
Burlingame is the right fit if you want walkability to Burlingame Avenue or Broadway, top schools and an established neighborhood, and you can give up some privacy.
Hillsborough is the right fit if you want land, privacy and quiet, and you are open to the hills to get more value.
San Mateo Park is the right fit if you want a larger flat lot close to downtown Burlingame without paying the Burlingame premium.
Inventory is so low in all 3 towns that when I widened the search to $5M to $9M, inventory only increased by 50%, and all of that increase was in Hillsborough.
Frequently Asked Questions
How many homes sold between $5M and $7M in San Mateo County?
San Mateo County had 22 sales between $5M and $7M at the end of April 2026, and just 1 home was still for sale in that range at the end of the month. In the same period a year earlier, there were 19 sales and 19 active listings.
Is Hillsborough more expensive per s/f than Burlingame?
Hillsborough and Burlingame were almost the same last year. Hillsborough was at $1,494 per s/f and Burlingame was at $1,474 per s/f, a difference of just $20.
Why do buyers choose San Mateo Park over Burlingame or Hillsborough?
Buyers choose San Mateo Park for a larger, flat lot close to downtown Burlingame at better value. They get more land than a typical Burlingame lot without paying the Burlingame premium or needing a half-acre Hillsborough lot.
How fast do homes sell in the $5M to $7M range on the Peninsula?
Homes in this range can sell quickly, and some sell off MLS before the public sees them. With just 1 home for sale countywide at the end of April, buyers need conditional underwriting approval in place and access to off MLS inventory to compete.
If you are shopping in the $5M to $7M range, the differences between these 3 towns matter more than the price. I would be happy to walk you through what is coming up in Burlingame, Hillsborough and San Mateo Park, including homes that may never hit the MLS.
This article is copyrighted by Raziel Ungar and may not be reproduced or copied without express written permission.
