Move over Sagaponack New York. With a median closed home sales price of $4.9 million, the most expensive ZIP code in the country in 2017 is 94027, in Atherton, San Mateo County, California. That’s according to PropertyShark’s annual Top Most Expensive Zip Codes in the U.S. survey released on Tuesday.
The list is derived by looking at residential transactions closed in 2017 and analyzing closed home sales prices. It takes into account condominiums, co-ops, and both single- and two-family homes.
California has claimed the highest number of ZIP codes in the Top 100 list with 77 ZIP codes on the list. New York is close behind with 19 ZIP Codes. The ZIP code 11962 in Sagaponack, New York—which was ranked No. 1 last year—slipped to 15 in this year’s ranking. It was replaced by 94027—Atherton, San Mateo, in California, which was ranked number two in last year’s survey. The steep drop for the exclusive Hamptons community was mainly due to more sales recorded at lower price points, which slashed its median price in half. In 2017, Sagaponack’s median sale price was $2,819,000, while the barrier for entry in the top 10 is $3 million.
The top three positions in the survey this year were claimed by ZIP codes from three different states—California, New York, and Florida—and feature very different housing markets. While Atherton’s 94027 has some of the richest people in Silicon Valley within its precincts, New York’s 10013, with a median price range of $4.1 million, covers the TriBeCa area with its luxury condo developments. Fisher Island, Florida (33109)—with a median price of $4 million—is a small, secluded island community.
Eight other states managed to break into the top 100 list as well, with Washington, Massachusetts, Connecticut, and New Jersey featuring two ZIP codes each and Colorado, Nevada, Maryland, and Hawaii ranking with one ZIP code each.
In terms of cities, San Francisco leads the way with nine ZIP codes in the list, while Los Angeles county (18 ZIP codes) ranks highest at county level, followed by Santa Clara (15 ZIP codes).
To view the complete rankings click here.