A home with more than two bedrooms and one bathroom in a market that has seen the rise of luxury brands such as Tiffany and Louis Vuitton has sold for more than $1.3 million, according to data from the real estate website Realtor.com.
Home Depot sold a similar home for $1,634,000 in 2015, and the company has continued to sell homes at a higher price.
The price for a new home in the Bay Area has gone up by more than 80% over the past two years, according the Real Estate Board of San Francisco, with median home prices up 4% from 2015.
The homebuilder’s annual report, which is available to the public, shows that the average home sold in 2016 was $947,500, up 8% from the year before.
The average price for single-family homes was $819,000, down 2% from 2016.
The median price for detached homes was up 11% from a year ago.
The report shows that there were more than 3,400 homes in the United States worth $1 million or more, up nearly 7% from last year.
The number of properties worth more than that rose to 4,639 from 4,585 in 2015.
The annual report also shows that median home price rose to $1 and $2 million, respectively, in 2016.