Silicon Valley luxury home market heats up amid AI boom

  • 📰 YahooFinanceCA
  • ⏱ Reading Time:
  • 52 sec. here
  • 12 min. at publisher
  • 📊 Quality Score:
  • News: 59%
  • Publisher: 63%

Silicon Valley News

Santa Clara County,Luxury Real Estate,Compass

Sales of homes priced at $5 million or more in Santa Clara County — home to Silicon Valley — spiked in April. The median home price is nearly $1.8 million...

Artificial intelligence companies' explosive growth is boosting San Francisco's luxury real estate market.

Compass data shows that San Francisco median home prices grew by double digits from 1997 to 2000, reaching nearly a 30% annual gain and“I think the Bay Area in San Francisco in particular is more susceptible to booms and busts because of how high tech has become such a dominant industry over the last 30 to 40 years,” Carlisle said. “Because of the dot-com boom, which was very localized … in San Francisco and Silicon Valley was very, very dramatic. When that crashed, we saw a decline in prices.

Available homes for sale are rare; high-end buyers have "maybe 25 to 50 choices at most," Walsh said. But that could change as the industry continues to expand. As AI becomes increasingly intertwined with daily life, employment opportunities could grow significantly.Click here for the latest personal finance news to help you with investing, paying off debt, buying a home, retirement, and more

This woman bought a four-bedroom, two-bathroom house for $135,000. In the Midwest, it's still possible.

 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 47. in US

United States United States Latest News, United States United States Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Tensions rise in Silicon Valley over sales of startup stocksTensions over the shadowy and often enigmatic market of private company stocks have reached a boiling point
Source: globebusiness - 🏆 31. / 66 Read more »