There's one US metro where over half of homes cost $1 million — and it won't surprise you

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Housing Prices Reach New Highs In South Bay

Million-dollar homes are becoming the norm in San Francisco.

According to real-estate site Trulia, 57.4% of homes in the notoriously expensive Bay Area metro now have a value of $1 million or more.

In its recent report, Trulia looked at the share of million-dollar homes in the 100 largest US metro areas and how it's grown over the past four years. It defined a million-dollar home as any home — regardless of whether it's listed for sale — with a value of $1 million or more.

San Francisco saw one of the largest increases in share of seven-figure homes, going from 19.6% in May 2012 t0 57.4% in May 2016. That's a 193% increase.

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There's one US metro where over half of homes cost $1 million — and it won't surprise you

Golden Gate Bridge over San Francisco Bay, California, United States

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San Francisco skyline at sunrise from Marin Headlands, San Francisco, California, USA

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Skyline of Financial District, San Francisco, California, USA.

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Old houses in Alamo Square, known as the Painted Ladies, San Francisco, California, United States

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Alamo Square, Painted Ladies, Postcard Row, San Francisco

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Downtown San Francisco as seen from Twin Peaks. Market Street cuts straight down the center of the frame, and in the background the Berkeley and Oakland hills can be seen across the bay, on the other side of the Bay Bridge.

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USA, California, San Francisco, View of full moon over Golden Gate Bridge

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The Golden Gate Bridge from Baker's Beach in San Francisco, California, USA

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Skyline of San Francisco at dusk

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Embarcadero Center is a group of office towers and hotels located near the Ferry Building and the Embarcadero in San Francisco. The complex intersects the daily business of the Financial District with tourists and travelers from around the world. The Embarcadero Center towers have edge lighting which is illuminated during the holiday season in November and December.

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Trulia also looked at which specific San Francisco neighborhoods have seen the largest increase in share: "While the neighborhood with the largest increase over the past four years is actually in the City of San Francisco — Westwood Park — the other four of the top five are in the small suburb of San Mateo, which is sandwiched between job-rich San Jose and San Francisco," the site wrote in its report.

You can get a better idea of the insane growth of million-dollar homes in the San Francisco area over the past four years by looking at this heat map:

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