San Francisco Homes Sell in Just Three Weeks Amid AI-Driven Market Surge

San Francisco, California – Homes in San Francisco are currently selling at an accelerated pace, with a median time of just three weeks on the market, significantly outpacing the national average of 51 days. This rapid turnover positions San Francisco as one of the fastest-selling major U.S. cities, a stark contrast to its previous market stagnation. The surge is largely attributed to a substantial influx of wealth from the burgeoning artificial intelligence industry, particularly from companies like OpenAI.

The San Francisco housing market experienced a period of slow sales over the past two years, but a recent "thaw" has revitalized activity. Real estate agents note that homes which once lingered are now attracting buyers quickly. This swift movement is occurring even as other large U.S. cities face buyer reluctance due to a struggling job market and high mortgage rates.

The rise of AI companies has brought a wave of affluent workers to the city, injecting significant capital into the housing sector. "OpenAI is the biggest driving force in the market," stated real estate agents, highlighting that the AI boom is impacting sales across various price points. This has led to increased demand and a tightening supply of available homes.

While the rapid sales have not yet translated into a major surge in overall home prices, which saw a decline during the pandemic, experts suggest this trend could change. A report from real estate brokerage Redfin indicates that a jump in sales coupled with a dip in listings could soon lead to price increases. Specific neighborhoods, particularly on the west side of the city, are experiencing the fastest sales and highest percentages of homes selling above asking price.