Peninsula Teardown & Spec-Build Plays, Week of August 18, 2026

Builders are paying about $618/lot-sqft for teardown dirt on the Peninsula. A 1,915 sqft home in Menlo Park just sold for $4,325,000 as a land buy, not a house buy. 7 live teardown and spec-rebuild candidates crossed our desk this week, each with the lot, structure and days-on-market figures you'd want before underwriting one. Burlingame is running about 107% sale-to-list with 2 demolition permits filed this period. Inside: the market pulse by city, recent land-buy comps, fresh demolition permits, and this week's screened candidates with their lot-to-structure numbers.