San Francisco, August 17, 2025
News Summary
San Francisco has seen a remarkable rise in its housing market, with median home prices surpassing $1.6 million. The city exemplifies a trend where million-dollar homes are becoming a standard entry point rather than a luxury marker across various locations. With only a handful of metropolitan areas maintaining homes under the million-dollar threshold, this shift has redefined homeownership expectations in the U.S., including cities like Chattanooga, Tennessee, where properties under $1 million still abound.
San Francisco has become a prime example of the booming million-dollar home market in America, where the number of houses valued at over $1 million has surged to an all-time high. The rise in home prices continues to break records across the nation, making million-dollar properties increasingly accessible not only to the ultra-wealthy but also to the general public in various areas.
The median home price in San Francisco has reached over $1.6 million, starkly contrasting with the national median home price of $441,000. This disparity highlights the steep price elevation in certain markets, particularly along the coasts, where million-dollar listings have become common. The real estate market’s landscape has shifted significantly, leading many to redefine what constitutes a luxury home.
As of now, only seven major metropolitan areas have homes in the top 5% of price listings costing less than $1 million, a significant drop from 30 areas just five years ago. Jonathan Huffer, a real estate expert, emphasizes that the $1 million threshold no longer exclusively represents luxury. Instead, it reflects a common entry point in many neighborhoods.
The increase in home values has also made a substantial impact on cities farther inland, such as Chattanooga, Tennessee. In this city, potential homebuyers can explore properties priced under $1 million with a range of features. Some notable homes currently on the market include:
- 504 Rosewood St.: $999,999; 5 bedrooms, 4 bathrooms, 3,492 sq. ft.
- 5703 Laurel Ridge Road: $999,000; 4 bedrooms, 4.5 bathrooms, 5,654 sq. ft.
- 1383 Carrington Way: $999,000; 5 bedrooms, 4 bathrooms, 3,193 sq. ft.
- 843 Dry Branch Court: $995,000; 5 bedrooms, 4.5 bathrooms, 4,454 sq. ft.
- 6520 Flagstone Drive: $985,000; 5 bedrooms, 3.5 bathrooms, 3,907 sq. ft.
- 517 Kestrel Lane: $985,000; 4 bedrooms, 3.5 bathrooms, 3,068 sq. ft.
- 5124 Highway 27: $979,000; 4 bedrooms, 3.5 bathrooms, 2,416 sq. ft.
- 3134 Camber Hill: $964,700; 4 bedrooms, 3.5 bathrooms, 3,535 sq. ft.
- 295 W. 19th St.: $950,000; 4 bedrooms, 5 bathrooms, 4,944 sq. ft.
These listings showcase the range of properties available near the $1 million mark, featuring various sizes and amenities to cater to a diverse group of buyers.
The current trends indicate a growing acceptance of higher home prices among potential buyers, reflecting broader economic conditions and evolving demographics of homeownership in America. As home prices soar across the nation, the definition of luxury is also transforming, suggesting a possible normalization of million-dollar homes even in areas previously considered affordable.
FAQ
Q: What defines a million-dollar home in today’s market?
A: A million-dollar home is increasingly viewed as a standard price point in many neighborhoods rather than exclusively a luxury threshold. This shift is influenced by rising home prices across the country.
Q: Are million-dollar homes only found in wealthy areas?
A: No, million-dollar homes have become commonplace in various markets, including locations that were previously seen as affordable.
Q: How does San Francisco’s housing market compare nationally?
A: San Francisco’s median home price is significantly higher, at over $1.6 million, while the national median stands at $441,000. This illustrates a wide price gap across the country.
Q: What is the trend regarding homes priced under $1 million?
A: The number of major metropolitan areas with homes in the top 5% of price listings costing less than $1 million has decreased, making them notably rarer over the past five years.
Chart: Key Features of Million-Dollar Homes in the U.S.
| City | Median Home Price | Characteristics |
|---|---|---|
| San Francisco | $1.6 million+ | High demand, coastal market |
| National Average | $441,000 | Mixed market conditions |
| Chattanooga | Approx. $1 million | Variety of homes available under $1 million |
Deeper Dive: News & Info About This Topic
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Additional Resources
- Times Free Press: How Much House $1 Million Buys You in Chattanooga
- Chattanoogan: Chattanooga’s Million-Dollar Homes
- Citizen Tribune: How Much House $1 Million Buys You in Chattanooga
- Chattanoogan: Chattanooga’s Million-Dollar Homes
- Times Free Press: Chattanooga Area Housing Market is Becoming More
- Wikipedia: Real Estate in the United States
- Google Search: Real Estate Market Trends
- Google Scholar: Real Estate Market Analysis
- Encyclopedia Britannica: Real Estate
- Google News: Real Estate News
Author: STAFF HERE CHATTANOOGA WRITER
The CHATTANOOGA STAFF WRITER represents the experienced team at HEREChattanooga.com, your go-to source for actionable local news and information in Chattanooga, Hamilton County, and beyond. Specializing in "news you can use," we cover essential topics like product reviews for personal and business needs, local business directories, politics, real estate trends, neighborhood insights, and state news affecting the area—with deep expertise drawn from years of dedicated reporting and strong community input, including local press releases and business updates. We deliver top reporting on high-value events such as Riverbend Festival, Chattanooga Oktoberfest, and Moon River Festival. Our coverage extends to key organizations like the Chattanooga Area Chamber of Commerce and United Way of Greater Chattanooga, plus leading businesses in manufacturing, insurance, and utilities that power the local economy such as Volkswagen Chattanooga, BlueCross BlueShield of Tennessee, and EPB. As part of the broader HERE network, including HEREBristol.com, HEREKnoxville.com, HEREMemphis.com, and HERENashville.com, we provide comprehensive, credible insights into Tennessee's dynamic landscape.
