\nThe number of luxury homes sold in San Francisco jumped 22.2% year over year in March, the fifth straight month of double-digit increases and the third-biggest increase among the 50 most populous U.S. metros. That compares with a 3.8% uptick for non luxury homes, according to a new report<\/a> from Redfin<\/a>, the real estate brokerage powered by Rocket.<\/p>\n
\nSoaring demand for San Francisco\u2019s high-end homes have pushed the median luxury sale price to $6,808,561, the highest level for this time of year on record. That\u2019s up 9% year over year; for comparison, non luxury prices are essentially unchanged (+0.1%).<\/p>\n
\nThe typical high-end home in San Francisco went under contract in 12 days, the fastest of all the major U.S. metros and down from 28 days a year earlier. Non luxury homes also sold quickly, going under contract in a median of 15 days, down from 19.<\/p>\n
\nRedfin defines luxury homes as those in the top 5% of their metro area\u2019s price range, while non-luxury homes fall into the 35th\u201365th percentile.<\/p>\n
\nA separate Redfin report<\/a> found that sale prices are surging in San Francisco\u2019s overall housing market. The jump in luxury prices is a major driver.<\/p>\n There are a few key reasons for San Francisco\u2019s luxury housing surge:<\/b><\/p>\n \nLocal Redfin Premier agent Ali Mafi<\/a> said that while AI compensation is a huge contributor to San Francisco\u2019s luxury boom, there are also other drivers.<\/p>\n \n\u201cThere was this hysteria a few years ago that people were leaving San Francisco in droves and the housing market was going to crash. That wasn\u2019t true then and it\u2019s the opposite of true now,\u201d Mafi said. \u201cWhile some<\/i> people left during the pandemic, many of those people are now coming back after realizing they don\u2019t actually want to live in whatever state they moved to. Plus, there\u2019s a whole new <\/i>pool of AI employees. They\u2019re bringing so much money into the housing market\u2014 especially the luxury market. The recent dip in mortgage rates has attracted even more buyers, and some luxury properties are now getting dozens of offers.\u201d<\/p>\n March 2026 Market Summary: San Francisco Metro Area<\/b><\/p>\n<\/td>\n<\/tr>\n Luxury<\/b><\/p>\n<\/td>\n Non Luxury<\/b><\/p>\n<\/td>\n<\/tr>\n Median sale price<\/b><\/p>\n<\/td>\n \n$6,808,561<\/p>\n<\/td>\n \n$1,497,373<\/p>\n<\/td>\n<\/tr>\n Median sale price, YoY change<\/b><\/p>\n<\/td>\n \n9%<\/p>\n<\/td>\n \n0.1%<\/p>\n<\/td>\n<\/tr>\n Pending home sales, YoY change<\/b><\/p>\n<\/td>\n \n22.7%<\/p>\n<\/td>\n \n18.1%<\/p>\n<\/td>\n<\/tr>\n Homes sold, YoY change<\/b><\/p>\n<\/td>\n \n22.2%<\/p>\n<\/td>\n \n3.8%<\/p>\n<\/td>\n<\/tr>\n New listings, YoY change<\/b><\/p>\n<\/td>\n \n15%<\/p>\n<\/td>\n \n16.4%<\/p>\n<\/td>\n<\/tr>\n Active listings, YoY change<\/b><\/p>\n<\/td>\n \n-15.2%<\/p>\n<\/td>\n \n4.1%<\/p>\n<\/td>\n<\/tr>\n Median days on market<\/b><\/p>\n<\/td>\n \n12<\/p>\n<\/td>\n \n15<\/p>\n<\/td>\n<\/tr>\n Median days on market, YoY change<\/b><\/p>\n<\/td>\n \n-16<\/p>\n<\/td>\n \n-4<\/p>\n<\/td>\n<\/tr>\n<\/table>\n Nationwide, Luxury Home Prices Post Slowest Growth in 5 Years<\/b><\/p>\n \nThe U.S. luxury housing market is lackluster\u2014especially compared to San Francisco\u2019s luxury market.<\/p>\n \nU.S. luxury home sales fell 2.4% year over year in March, and non luxury sales fell 0.2%.<\/p>\n \nThe median U.S. luxury sale price was $1,395,456, up 3.6% year over year\u2014the slowest growth in five years. That\u2019s compared with a 1% increase for non luxury homes, which was the slowest growth on record.<\/p>\n \nThe total number of luxury homes for sale (active listings) ticked up 1.5% year over year, half the 3.1% increase for their non luxury counterparts. Luxury new<\/i> listings fell 1.3%, comparable with the decline for non luxury new listings.<\/p>\n \nThe nation\u2019s luxury market is largely mirroring the overall market, with tepid demand and slow price growth. Many would-be homebuyers, whether they\u2019re high-end buyers or not, are sitting on the sidelines due to 6%-plus mortgage rates and widespread economic uncertainty<\/a>, including the back-and-forth on the Iran war.<\/p>\n\n
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