As home sale prices rise across the country amid the pandemic, wealthy buyers are seeking larger homes with more land in scenic destinations as remote work continues for their jobs and for their children in school. The pricing of those homes has also resisted the slowdown in other segments of the economy.
“Luxury buyers are more resilient to economic conditions like the ones we’re having now,” Eliza Theiss, a senior writer at PropertyShark, told realtor.com®. “High-end professionals are still going to be able to buy.”
PropertyShark, a real estate data firm, identified the most expensive ZIP codes in the nation by analyzing the sales price of single- and two-family homes, co-ops, and condos from Jan. 1 through Oct. 15.
Silicon Valley’s Atherton, Calif., remains the most expensive ZIP code in the country for the fourth consecutive year, according to PropertyShark’s findings. The median list price in the 94027 ZIP code was $7,395,050 in October. However, that is down 8.7% compared to a year ago.
The majority of the priciest ZIP codes in the nation were in California, which nabbed 87 of the top 100 spots on PropertyShark’s rankings.
Here are the 10 priciest ZIP codes in the nation, according to PropertyShark:
1. Atherton, Calif. (94027 ZIP code): $7 million (median list price)
2. Sagaponack, N.Y. (11962 ZIP code): $3.88 million
3. Santa Monica, Calif. (90402 ZIP code): $3.75 million (tie)
3. Beverly Hills, Calif. (90210 ZIP code): $3.75 million (tie)
4. Ross, Calif. (94957 ZIP code): $3.61 million
5. Portola Valley, Calif. (94028 ZIP code): $3.53 million
6. Los Altos, Calif. (94022 ZIP code): $3.45 million
7. Bridgehampton, N.Y. (11932 ZIP code): $3.32 million
8. Palo Alto, Calif. (94301 ZIP code): $3.30 million
9. Medina, Wash. (98039 ZIP code): $3.23 million
10. Los Altos, Calif. (94024 ZIP code): $3.20 million
Source: “Most Expensive U.S. ZIP Codes in 2020: Medians on the Rise in Country’s 100 Priciest ZIPs,” PropertyShark.com (2020) and “These Are the Most Expensive ZIP Codes in America in 2020,” realtor.com® (Nov. 25, 2020)