San Francisco's Outer Sunset: One of the Priciest Areas in the Country

ZIP code 94122.
One of the countries the country's most overpriced areas is ZIP code 94122. Believe it or not, thats the Sunset district, located near the Pacific Ocean and Golden Gate Park. I like the Sunset because of its fresh air, low density and quiet. It doesnt seem to be so caught up in the "new" San Francisco" of reverse commutes, 3G wireless, start ups and pricey restaurants. Its more like a ordinary neighborhood rather than overheated and hip.

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.

Thanks for Reading
Howard Bell
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