A San Francisco home built for an heir to the Colgate fortune has swiftly sold for $7.5 million as the AI industry revives the Bay Area market.
The home’s final sale price was more than $700,000 over the asking price of $6.795 million. It hit the market at the end of April and found a buyer within three weeks. The sale closed on Wednesday.
Home prices in San Francisco hit a record high earlier this spring, logging a median sale price of $2.15 million in March. The city was last logging record-high prices in spring 2022, before the market hit a post-Covid slump. Now, the latest boom is “being fueled by the new employment and wealth generated by the AI startup boom,” market analyst Patrick Carlisle wrote in an Compass report in April…