Nearly two-thirds of San Francisco homes now cost at least $1 million

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If you were hoping to buy a reasonably priced home in San Francisco anytime soon, you're probably going to be disappointed.

A new report from real estate listings site Trulia says 63% of homes in San Francisco now cost at least $1 million. That's up from just 24% in January 2010.


Trulia has put together a nifty GIF showing the dramatic transformation.


"It was a fairly steady climb until about 2014, when the percentage jumped," Trulia's Ralph McLaughlin, who put together the report, told me in an email. The city's booming tech sector pushed demand up most forcefully that year, while housing supply remained limited, he said.

Bernal Heights, home to one of the country's oldest farmer's markets (and which borders some of the city's traditionally expensive neighborhoods), saw the biggest increase in its share of million-dollar homes. As of September, it had 5.46% of them, up from 1.5% in January 2010. It now has the largest share of million-dollar homes in San Francisco overall.

There are now 10 mostly residential neighborhoods in which more than 90% of all homes are worth at least $1 million, according to Trulia's data. The Inner Sunset neighborhood, which borders Golden Gate Park, tops that list, with 96% of listings in the $1 million-plus club.


In the San Francisco metro area, which includes neighboring San Mateo County, 58% of homes are at least $1 million, tops in the country, Trulia said. That is followed by San Jose, at 43%, and Oakland, at 18%.


By comparison, the New York City metro area is 14%.

All that makes this listing look a bit more attractive.

Rob covers business, economics and the environment for Fusion. He previously worked at Business Insider. He grew up in Chicago.