- Lisa M. Lum, REALTOR®
- Posts
- Lisa's Market Minute
Hi friends,
Last Tuesday I walked past a restaurant I love. Half the tables were empty. No wait at the door. My first thought: uh oh, did something happen here?
Nothing happened. It was Tuesday. The food was still perfect. The regulars would be back by Friday. Quiet isn't the same as failing. I just forgot that for a second.
I got the same feeling looking at July's housing numbers.
The headline: home sales dropped 14% from June. Fewer people walking through open houses, fewer offers coming in, fewer deals closing. On paper, it looks like the market lost its nerve.
So I did what I do with that restaurant. I looked closer.
Prices hadn't moved. San Mateo County sellers were still getting 106% of asking, same as before the "slowdown."
Inventory hadn't loosened up either. It actually got tighter, down to one month of supply. Less to choose from, not more.
In Burlingame, nothing about July felt quiet. 29 homes sold in 13 days on average, at 109% of asking. That's a market working exactly like it always does.
Woodside told a different story, but the story it always tells. 8 homes sold in 57 days. Estates take time. In Woodside, 57 days is just Tuesday.
Same county. Same rates. Same month. Two very different rhythms, and both completely normal.
So what actually changed in July? Buyers got a little more breathing room. Sellers didn't lose any ground. Nobody got a discount.
I could've sent you the headline number and let you draw your own conclusion. But you're trusting me with one of the biggest decisions of your life, so I'd rather you have the real picture.
July was quiet. It wasn't weak.
Full numbers below.
-Lisa
THE JULY REPORT
San Mateo County - Market Housing Statistics
Single Family Residential | July 2026
San Mateo County Area Report
Santa Clara County - Market Housing Statistics
Single Family Residential | July 2026
Santa Clara County Area Report
ON THE PENINSLA THIS MONTH
Summer Nights at Filoli
Wednesday and Thursday evenings through September 17, 5 to 8pm
Filoli, Woodside
The gardens stay open as the light goes gold, with live acoustic music, food trucks, and California wines at the Hummingbird Bar.
An Evening with Goose
Saturday, August 15, 6pm · Frost Amphitheater, Stanford
An open-air night under the oaks; bring a layer and arrive early, the lawn fills fast.
Cat Power: The Greatest Tour
Monday, August 17, 8pm · The Guild Theatre, Menlo Park
A marquee voice in a 500-seat room. The Guild remains the Peninsula's best-kept listening secret.
Palo Alto Festival of the Arts
Saturday and Sunday, August 22 and 23 · University Avenue, Palo Alto
More than 250 artists, Italian street painting, and the year's best excuse to spend a morning on University.
Poetry and Piano: Forrest Gander and Awadagin Pratt
Friday, August 28, 6pm · 116 Hamilton Avenue, Palo Alto
A Pulitzer Prize poet and a concert pianist share one stage, an unusually elegant way to close out August.
Carolyn Lazard: Long Take
Now through December 13 · Cantor Arts Center, Stanford
The Cantor's new multimedia commission. Pair it with JANE!, the Gilded Age portrait of Jane Stanford, and make an afternoon of it.
IN THE NEWS
A 1922 Atherton estate just sold for $21.2 million
A century-old home, not a new build, set the week's high mark. Provenance and mature grounds are commanding a premium the spec builders cannot replicate.
Source: The Almanac
Read the article
OpenAI and Anthropic employees could buy 29% of San Francisco's homes
Redfin ran the math on IPO equity and the number everyone keeps repeating at dinner parties is real. Anthropic is eyeing an October listing while OpenAI now leans toward 2027.
Source: Redfin
Read the article
Mortgage rates just hit a one-year high
The 30-year fixed climbed from 6.43% to 6.66% in a single month. It is the quiet reason July felt slower without getting cheaper.
Source: NPR
Read the article
SB 79 is now in effect, and Menlo Park opted in
The new state law allows up to seven stories near Caltrain stations, and Menlo Park chose to adopt it rather than seek an exemption. Worth knowing what your block is zoned for now.
Source: Davis Vanguard
Read the article
Is the Peninsula becoming a food destination?
Live-fire dinners at Coyote Point, whisky tastings in Half Moon Bay, and a case that the food scene between San Francisco and San Jose is having its moment.
Source: 7x7
Read the article
SCHEDULE A CALL
Lisa M. Lum
DRE #02005150
Mobile: +1 (650) 668-1868 | Email: [email protected]
Coldwell Banker Realty
1706 El Camino Real, Suite 220, Menlo Park, CA 94027
