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2 weeks ago

Some Bay Area homes are selling $1M above asking amid AI boom

The artificial intelligence (AI) boom is causing a fierce bidding war for some luxury homes in the San Francisco Bay Area, with dozens of homes selling more than $1 million above asking price last month.Mike Simonsen, chief economist at Compass International Holdings, noted in a post on X citing the firm's analysis of MLS data that there were 44 homes sold in San Francisco that closed at a price at least $1 million above the final asking price. It showed the 44 transactions from June totaled over $60 million in total sales.The June total marked the continuation of a recent trend after April an...