In San Francisco, 63% of homes are worth at least $1 million, according to home-listing site Trulia, which included properties not currently for sale in its analysis. Overall, 58% of homes in the San Francisco Bay Area metropolitan area are valued at seven figures or more, according to the company.
It was only in March of this year that San Francisco crossed a tipping point where the majority of homes were worth at least $1 million. Just five years ago, only a quarter of homes were valued that much.
The density of $1 million-plus homes is especially pronounced in the city’s residential neighborhoods, where there are more single-family homes, including the Inner Sunset (96% of homes in the area are worth at least $1 million), the Richmond (96%), and Noe Valley (95%).