Southern San Francisco Nabe Is Hottest Housing Market

San Francisco’s hottest housing market isn’t in the heart of the city or in the Sunset District, but on the fringes near the city’s most popular mall.

ZIP code 94132, covering the southwestern corner of the city, saw a 25 percent jump in listing prices over the past year, the San Francisco Business Times reported.

While the area — which encompasses the Stonestown Galleria mall, San Francisco State University campus, Lake Merced Park and Parkmerced — has lower average sales and listing prices than other areas, it came out on top in the Business Times’ rankings based on quarterly listing and sales data from Intercontinental Exchange and factoring in listings-to-sales ratio, average list price, average sales price and days on the market.

In the 94132 ZIP code, the average sale price last quarter was nearly $1.6 million, with 30 listings sold in the last quarter and an average of 72 days on the market from listing to sale. The average list price was almost $1.4 million, up 25 percent from the second quarter of last year. That area is followed by ZIP code 94103 ZIP, which encompasses the western portion of South of Market. There, the average sale price last quarter was just under $900,000 with an average list price of almost $1.2 million, marking a 12 percent increase year-over-year.

Median home sales prices in San Francisco have risen to their highest levels in years, per the Business Times. Year-over-year, prices have increased 3.5 percent, according to June Multiple Listing Service data from Compass cited by the publication.

Stonestown Galleria could play a factor in the southwestern San Francisco area’s popularity on the housing market, according to the Business Times.

From January to May of this year, foot traffic at the Galleria was up nearly 34 percent from the same period in 2019. Between 2019 and 2024, the Galleria saw an almost 26 percent increase in visitor activity. By contrast, foot traffic at San Francisco Centre mall in the middle of the city fell 68 percent from January through May and 63.3 percent overall from 2019 to 2024.

— Chris Malone Méndez