TechCrunch: San Francisco’s housing market has lost its mind
As someone who works in S.F. luxury real estate, this article is mostly right — but the frenzy is really concentrated around a very specific type of home: turnkey family homes in top neighborhoods with views, outdoor space, parking and great design.
A lot of these homes are intentionally priced to spark bidding wars. So when something sells for “2x ask,” it doesn’t necessarily mean the market doubled overnight.
That said, the AI wealth effect is absolutely real. A lot of buyers already lived in S.F., sat out the downturn, and are now jumping back in with serious liquidity from secondary sales.
The bigger issue is supply. S.F. barely builds family-sized homes in neighborhoods like Noe Valley, Cow Hollow and Presidio Heights. So when 10 buyers compete for the same great house, prices go crazy fast.