California Claims 14 Of 20 Priciest Zip Codes In U.S.
According to an analysis of US Censur Bureau information by Property Shark, the most expensive zip code in the US is no longer in Silicon Valley. The new most expensive zip code between January 2014 and May 2015 is the zip code 11962 – Sagaponack, New York, a village in Southampton. The median sale price in Sagaponack last year was a staggering $5.125m.
No need to fret though, Californians, because California still claims 14 of the 20 priciest zip codes in the US. At spots two through five are California’s Atherton at $5.05m, followed by Beverly Hills at a distant $3.221m, Santa Monica at $3.062m, and Palo Alto at $2.827m. California also claimed spots 8, 10-12, 14-15, and 17-20. The remainder of the list is filled in by five zip codes in New York and one zip code in Florida. The complete list is below.
Surprisingly, the median sale price in these zip codes have decreased since 2014. In this article published by Forbes, the median sale prices in 2014 for Atherton and Sagaponack were $9m and $6.4m, respectively. Additionally, California’s movement into 4 of the 5 most expensive zip codes is a relatively new development, as those spots were previously occupied by New York zip codes.
This is welcome news for current homeowners, but likely disappointing for first time home buyers who are continuing to struggle to enter the market. The silver lining is that the continuing boom in California’s real estate market is reflective of continuing growth within the state.
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