Nine ZIPs Grew This Summer. One Went the Other Way.

Ranking the ten ZIPs in this report by median sale price growth for the twelve weeks ending August 23, 2026, only one posted a decline while every other market gained ground.

Rank every ZIP in this report by how far its median sale price moved over the past year, and one placement stands apart immediately. Brisbane sits alone at the bottom of that list, the only market in this territory where the median sale price fell instead of rose over the twelve weeks ending August 23, 2026.

That's worth sitting with, because everywhere else in this report moved the same direction. Rank the remaining nine ZIPs from strongest gain to weakest, and every single one climbed.

Millbrae led the territory by a wide margin. A year ago, the median sale price there was $1,800,000. This period, it was $2,212,500, a gain of about 23%, the strongest move on the list.

San Mateo wasn't far behind, with its median sale price up about 17% this period. But sellers there gave up a little ground at the negotiating table along the way: the average sale-to-list ratio slipped about 1 percentage point compared with a year earlier, even as the price climbed.

Brisbane's story cuts the other way, and it's the more interesting one. Its median sale price fell about 4% this period, the only decline in the territory. Yet sellers there did not lose leverage to get that number. The average sale-to-list ratio actually rose about 6 percentage points compared with a year earlier. A falling price and a stronger negotiating position showed up in the same market at the same time.

Pacifica sat apart from both stories. Its median sale price held essentially flat compared with a year earlier, at $1,315,000.

The other six ZIPs in this report, from Burlingame to both Daly City ZIPs to San Bruno to South San Francisco to the west side of San Francisco, all posted real gains too, some sharper than others, but every one of them moved in the same direction as the wider group.

A median sale price over a twelve-week window moves on which homes happened to close as much as it moves on true value change, so a single period like this doesn't tell any one homeowner what their specific house is worth today. But the direction here says something plain: nine of the ten markets in this report saw sellers close at higher prices than they did a year earlier, and only one saw the opposite.

The pairing of price and pricing power is the part worth carrying into a decision. If you're weighing a listing in Brisbane, the falling median shouldn't be read on its own. Sellers there aren't conceding ground at the table even with the price down, which points to a market that's thinner right now, not necessarily softer. If you're watching San Mateo's climbing price and assuming buyers there have no room, the shrinking sale-to-list ratio says otherwise. Buyers there gained a little negotiating room even while paying more than they did a year ago.

What's worth watching over the next reporting period is whether that pairing holds in both places, or whether it was this particular window doing what a single window can do. If Brisbane's price keeps softening while its sale-to-list ratio keeps rising, that's a pattern. If San Mateo's price keeps climbing while its sale-to-list ratio keeps easing, that's a pattern too. One period alone only tells you where to start looking.

This report is built from MLS sold data across the ten ZIPs it covers. The underlying figures were verified against Zillow before publication.