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February 6, 2017

Outer Sunset Sees Record $2M Sale, Prices Soar

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The Outer Sunset had its breakout year in 2016. Once a sleepy oceanside neighborhood with a reliable stock of homes for under a million dollars, the Outer Sunset’s prices are steadily creeping upward. And the area just saw a record-breaking sale for $2M last December.

Prices have been edging up over the past few years. For example, the average price for an Outer Sunset house was $863,169 in 2014, and that number climbed to $1,029,921 in 2015, with five homes changing hands for $1.3M+.

But 2016 saw the average sale price increase to $1,109,000, with eleven homes clocking in at $1,300,000 or more. In fact, a 3BR/4BA Dutch Colonial (see photo) on 42nd Avenue and Lincoln quietly sold in December for a record high $2,002,002.

Why is the Outer Sunset suddenly exploding in popularity? My theory is that as single-family home prices continue to rise, buyers are moving further west in search of opportunities. Though it’s farther from the center of the city, the Outer Sunset has become the darling of home buyers looking for a house vs a condo, in a neighborhood where you can catch Muni to downtown, walk to Golden Gate Park, Ocean Beach, and hit hotspots like Outerlands.

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