undefined | AI boom catapults San Francisco median home price above $2 million by Queenie Wong
San Francisco’s median home price hit a fresh record of $2.15 million in March 2026, an 18 % rise over the previous year. The surge is tied to a wave of artificial‑intelligence investment and a corresponding hiring boom that have tightened an already scarce housing supply. Listings dropped 28 % compared with a year ago, and homes are now selling for an average of 23 % above the asking price, with many properties spending only about 20 days on the market before being snapped up.
Compass data show the AI boom is reshaping both the single‑family and condo markets. The median condo price jumped to $1.36 million, a 27 % year‑over‑year increase, as AI firms such as OpenAI, Anthropic, Salesforce and Uber require employees to return to office space and lease more square footage. Even as tech giants trim staff, they continue pouring money into AI‑driven tools that generate text, images, code and research assistance, reinforcing the flow of new wealth into the city’s luxury real‑estate sector.
High‑end sales also reached new heights: 22 houses sold for over $5 million and 24 condos fetched more than $3 million in March, eclipsing 2021 peaks. The growing gap between demand and supply has fueled debates over affordability, with California unions suggesting a one‑time 5 % tax on billionaires to fund public services. Meanwhile, some tech magnates—Larry Page, Mark Zuckerberg and former Oracle CTO Larry Ellison—have begun shifting luxury purchases to other states, underscoring the intense competition and price pressure that now define San Francisco’s housing market.
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