Is $2.5 - $3 Million the new price point?

I've mentioned before that Dick and I love to go out for long walks on Sunday afternoons to check out Open Houses in our neighborhood. It's a great way to see some great architecture, get design ideas, and to keep up to date with the market.

Recently, we've been noticing that a lot of houses have been listed over $2 Million. There's still plenty of condos/TICs under or around $1 Million, but a lot of SFHs seem to be going into the $2 Million Plus range.

That's a ton of dough.

In the past couple of weeks, we've seen these two properties, each listed in the $2.5 Million range:

76 Caselli

4419 19th Street

These are both very nice, very large houses, with really beautiful choices of materials and good workmanship. After seeing both of these properties, I told Dick that the new going rate for a "done" SFH in the neighborhood must be $2.5 Million.

But wait, there's more!

Yesterday, I drove by this property, and just saw the listing for it:

4226 25th Street

Listing price: $2,950,000.00

Maybe $3 Million is the new price point?

Who can keep up with it.

...and who's spending that kind of money?

What real estate recession?

San Francisco real estate is crazy.