Published November 1, 2026 in Market Update

Burlingame stayed tight even with mortgage rates above 7%

By Spencer Hsu

Real estate, - Belmont - San Carlos - Menlo Park - San Mateo - Burlingame - Foster City- New York - Union City -

CNBC reported the average 30-year mortgage rate reached 7.37% in late October 2026. That is a number that slows a lot of markets. Burlingame is not one of them.

The Real Estate Data Aggregator counted just 1 month of supply in ZIP 94010 for the three months ending August 31, 2026. That is the lowest reading in this entire market. It means buyers are competing for a thin pool of homes.

Nearly two in three Burlingame homes sold above list price, according to the Real Estate Data Aggregator. That share rose 17.6 points from the same period a year before. Sellers are not just getting offers. They are getting strong ones.

The numbers behind the story

Why rates above 7% did not cool things down

The Federal Housing Finance Agency reported U.S. home prices rose 2.4% from August 2025 to August 2026. That is a national number. Burlingame ran well ahead of it, with the Real Estate Data Aggregator showing the median sale price up 8.8% to $4,025,000.

More homes came to market, too. New listings in 94010 rose 12.9% to 114, according to the Real Estate Data Aggregator. Buyers had more to look at. They still moved fast: the Real Estate Data Aggregator put the median days on market at 14, exactly where it sat a year ago.

What this means if you own here

Serious buyers are still showing up. The Real Estate Data Aggregator counted 116 pending sales in 94010, up 12.6% from a year before. Demand did not shrink. It held, even with CNBC reporting rates at 7.37%.

That said, not every home moved in two weeks. The Real Estate Data Aggregator shows 47.4% of Burlingame homes went under contract within two weeks of listing. That share dipped 2.1 points from a year ago. Most homes still sell quickly. A few take longer. Pricing and condition still matter.

What this means if you are buying here

With 1 month of supply, there is not much room to wait. The Real Estate Data Aggregator shows homes selling at 106.8% of list price on average. That means terms, timing, and preparation matter more than ever in this ZIP code.

CNBC also noted that San Francisco Bay Area rents grew 13.1% year over year in October 2026. For some buyers, that math is making ownership look more stable, even at current rates.

One more thing to keep in mind

These numbers cover all of ZIP 94010. One street can read very differently from the whole ZIP code. A block closer to downtown Burlingame or near the Caltrain station may move faster or slower than these figures suggest.