The San Francisco housing market is red-hot.
But the really startling increases are being seen in the high-end part of the market, which includes homes that cost over $950,000. For homes in this price bracket, San Francisco is sharply outpacing the appreciation seen in other markets around the country.
- Bespoke Investment Group
We’ve previously written about how the cost of living made it hard to hire teachers in San Francisco, and how homes in Berkeley – 40 minutes outside the city – are also seeing prices skyrocket, with median prices now over $1 million.
On Tuesday, the latest Case-Shiller home price report showed that home prices across the country rose 4.7% over the prior year in August.
San Francisco, along with Denver, outpaced this growth, as prices in those markets rose 10.7%.
But while increases in the prices of low- and mid-range homes have been driving overall prices in Denver, it’s the most expensive part of the market driving prices up in and around Silicon Valley.