Silicon Valley developer market — June 2026
This is the monthly read on where the teardown, spec-build, and value-add opportunity is concentrated across Silicon Valley — the San Mateo County Peninsula and the South Bay (Santa Clara County, including San Jose). We track what the dirt is selling for, where demolition and new-construction permits are clustering, and which live listings pencil after demo-and-rebuild costs are netted out.
Where the activity is. Across the 23 Peninsula cities with published stats this cycle, builders pulled 5 demolition and 38 new-construction permits. San Mateo led on combined teardown + new-build activity; Burlingame ran the hottest at ~106% of list.
What the dirt costs. Recent land buys set the basis: a 1,495 sqft home in Sunnyvale on a 7,400 sqft lot traded at ~$291/lot-sqft. Builders here are buying dirt and entitlements, not houses.
This month's opportunities. Our screen surfaced 10 live candidates worth underwriting as a land-and-rebuild or value-add. The full list with street addresses is below (free with email). These are screened candidates for your own underwriting — we publish the recorded figures, not a projected return. This edition originally carried a model-estimated developer-ROI and teardown score; those were withdrawn on 2026-07-31 because the underlying model has not demonstrated a validated predictive edge.