San Francisco Home Prices Hit $1.7 Million, Highest Nationally as A.I. Wealth Fuels Bidding
Updated
Updated · The New York Times · May 29
San Francisco Home Prices Hit $1.7 Million, Highest Nationally as A.I. Wealth Fuels Bidding
1 articles · Updated · The New York Times · May 29
$1.7 million was the San Francisco metro area's median home sale price in April, up more than 10% from a year earlier and the highest of any U.S. metro.
A.I. hiring and fundraising are driving the surge, with tech firms paying lofty compensation and some researchers negotiating packages as high as $250 million.
Tight housing supply has intensified competition, pushing buyers to raise budgets or look farther out; one nurse and her fiancé lifted their target from $1.2 million to $1.5 million and shifted to Marin County.
Since ChatGPT's 2022 launch, Redfin data show Bay Area luxury ZIP codes have sharply outpaced cheaper areas, where prices have fallen — a split not seen before and uncommon in other major markets.
The rebound marks a sharp turn from the pandemic era, when crime, drug use and encampment concerns had darkened San Francisco's housing outlook.
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