While many parts of the marketplace experienced a general decline in activity throughout 2024, the luxury housing market saw some growth. According to a report from online real estate database PropertyShark, 67% of the 100 most expensive U.S. ZIP codes experienced a rise in median sales prices, compared with just 29% in 2023. A record 15 ZIP codes had median sales prices over $4 million, while only 15 remained below $2 million.
The most expensive ZIP codes were found in Atherton, Calif., Sagaponack, N.Y., and Water Mill, N.Y., where the median sales prices were recorded at $7.9 million, $5.95 million, and $5.88 million, respectively. Despite Atherton having the most expensive ZIP code for the eighth year in a row, the region saw a decline in prices.
Meanwhile, the country’s #1 most expensive zip code of 94027 in Atherton, Calif., went against the grain with a minor price decrease, which brought the wealthy enclave’s median sale price back below $8 million. Further south, sustained growth in line with many other exclusive zip codes caused Newport Beach, Calif., to reach new pricing and ranking heights.
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