But the new black? When Forbes mentioned that the Sunset was the one of the highest priced areas in the country....well, that is proof, for sure, that we were in a speculative and even irrational boom. Median prices surged from $560,000 in June of 2003 to a peak of $771,000 in March of 2008, based on Trulia price data pulled from the MLS.
According to the Forbes article, San Francisco prices in the Outer Sunset have declined 10% dropping to $692,000. Based on asking prices and asking rents, though, the market still has a way to fall before reaching equilibrium.
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