See, even The Front Steps is waxing about the virtues of the Sunset becoming of ageā¦
Take it a step further and think about the āOuterā Avenues. The Western shore of San Francisco. The āOuterlandsā. The sand dunes. The desolation. The edge of the Continent. The place nobody wanted to be, because it is āalways foggyā (When I have listings out this way, people actually come up to me and ask, āIs it ever sunny out here?āā¦no joke). As it turns out, itās the most popular place to buy in San Francisco at the moment (close second would be Bernal Heights). Why is that? Itās one of the few areas in San Francisco you can still get a single family home under $1.3Mā¦barely.
Think back to 2014 when the average home in the Outer Avenues could be had for under $900,000 , and look at the four overbids on this top 10 list in the avenues, all trading well over $1.2M. Itās nuts! But itās reality.
As a reference point, to make sure I wasnāt delusional, I pulled the averages for the Outer Sunset and Outer Parkside 2014, 2015, 2016, and 2017. Have a lookā¦
Type Units Sold | List Price | Sqft | LPPSF| DOM | Sales Price | SPPSF
Type Units Sold | List Price | Sqft | LPPSF| DOM | Sales Price | SPPSF
Single-Family | (142) | $759,918 | 1358 | $595 | 34 | $854,982 | $670
Single-Family | (142) | $844,974 | 1365 | $645 | 25 | $1,012,097 | $771
Single-Family | (141) | $918,479 | 1398 | $689 | 29 | $1,080,833 | $808
Single-Family | (28) | $910,195 | 1237 | $778 | 31 | $1,076,107 | $906
Itās all very interestingā¦
Units Sold ā almost identical every year.
List price ā Creeped steadily up.
Average size of the home ā down.
List Price ā Up.
Days On Market ā Hovering around 30.
Sales price ā Climbing (remember 2017 is not even close to done).
And the last and easy to decipher for even the most data challenged person (like myself) Sales Price Per Square Foot ā up nearly $240 per square foot on average.
Moral of the story, itās hot in the Avenues right now.