A mid-priced home in San Francisco and San Mateo County costs nearly as much as a luxury home in the Sacramento area.
It’s not just that homes in the San Francisco metro area are far more expensive than they are in the Sacramento region — though they certainly are. The estimated price of a mid-tier home that sold in the San Francisco area from March to May was nearly $1.5 million, according to online real estate brokerage Redfin, almost three times the typical $589,000 price tag in the Sacramento area.
But the price gap between a “normal” home (one in the middle third of values) and a mansion (in the top 5%) is also greater in the Bay Area than it is in the Sacramento region. A top-tier home in the San Francisco metro area, defined in Redfin’s data as the city and San Mateo County, cost about $6.2 million, more than four times the price of a mid-tier home…