San Francisco’s median house price jumped to a record $2.15 million in March, up 18% from a year earlier as wealth generated by artificial intelligence startups flooded the city, according to brokerage Compass Inc.
Condo prices also surged, rising 27% to $1.36 million, Compass said in a report. That was just below the $1.375 million peak of April 2022.
“The economic changes created by the Iran war – such as rising interest rates and financial market volatility – have not affected the extremely heated market dynamics in San Francisco, which are being fueled by the new employment and wealth generated by the AI startup boom,” Compass Chief Market Analyst Patrick Carlisle said in the report…