You could argue that you already is… I know from experience more than one family that moved away because of the last few years of wildfires. They moved back east because they didn’t have to worry about going outside and breathing smoke.
That’s a small sample size but if air quality continues to deteriorate here and it gets a bad stigma attached to it there definitely could be a smaller pool of buyers in the future.
Also areas like Livermore and Brentwood might see less demand since it is difficult to live in temperatures over 100° day after day. On the flip side, areas near the coast could increase in value as people decide they want to have a little more temperate climate but still want to live in the bay area.
So I don’t think we will have issues like Florida with sea level rising but I do think we will see the effects if there are more and more fires and greater heat.