San Francisco’s housing market has lost its mind

San Francisco real estate has never been very accessible. But the record sales happening right now in the city’s high-end market are testing the upper limits of what even this famously unaffordable city thought was possible.

Consider a six-bedroom, 5,700-square-foot home in Cow Hollow, one of San Francisco’s most coveted neighborhoods. It was listed two weeks ago at $7.95 million, so, not cheap. It just sold for $15 million. The sellers, who bought the property for $7.8 million in the summer of 2020 as the pandemic was pushing residents out of cities, nearly doubled their money in under six years.