The Bay Area's overall housing market is experiencing a slowdown due to high interest rates and market volatility. However, the luxury segment, particularly in areas like Atherton, is thriving. Atherton has reported a median home price exceeding $10 million, setting a new record. Luxury home sales in neighborhoods such as Pacific Heights and Sea Cliff in San Francisco also reflect positive trends, with sales of multimillion-dollar properties increasing this year. San Mateo County has noted its highest quarterly sales for homes over $5 million since spring 2022.
The bulk of the region's most expensive home sales so far this year are in Atherton, where famous residents like Golden State Warriors point guard Steph Curry and former Hewlett-Packard CEO and Republican gubernatorial candidate Meg Whitman have sought privacy behind tall hedges.
The median price of a home in Atherton was just over $10 million in the first half of the year—a new record, according to statistics from Compass.
Luxury sales in San Francisco, defined as homes over $5 million for single-family homes and over $3 million for condos, stayed on pace with the spring of 2024.
Multimillion-dollar home sales are up this year, with sales of homes over $5 million in San Mateo County hitting their highest quarterly level since spring of 2022.
Collection
[
|
...
]