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PropertyShark: 10 Most Expensive ZIP Codes for Buying a Home

PropertyShark: 10 Most Expensive ZIP Codes for Buying a Home
(Dave Bredeson/Dreamstime)

By    |   Monday, 25 November 2019 08:32 AM

Online real-estate resource-site PropertyShark has narrowed down the top 100 most expensive U.S. ZIP codes for buying a home.

PropertyShark crunched the numbers on median home sale prices by analyzing transactions for condos, co-ops and single- and two-family homes made between Jan. 1, 2019 and Nov. 5, 2019, CNBC.com explained.

In 2019, California contributed 91 of the top 100 most expensive ZIP codes, and all 100 of them fell within just 11 states (with ties, 125 ZIP codes were included in the ranking). When it comes to home prices, San Francisco alone holds 13 of the highest priced ZIP codes, CNBC said.

The 11 states that contain the 100 most expensive ZIP codes based on median home sale prices are California, New York, Connecticut, Massachusetts, Washington, Nevada, New Jersey, Florida, Maryland, Arizona and New Hampshire.

Here are the 10 most expensive ZIP codes in the U.S. for buying a home:

  • 10. Ross, California (94957); Median home sale price in 2019: $3,350,000
  • 9. Los Altos, California (94022); Median home sale price in 2019: $3,450,000
  • 8. New York, New York (10013); Median home sale price in 2019: $3,515,000
  • 7. Palo Alto, California (94301); Median home sale price in 2019: $3,522,000
  • 6. Boston, Massachusetts (02199); Median home sale price in 2019: $3,669,000
  • 5. New York, New York (10007); Median home sale price in 2019: $3,900,000
  • 4. Beverly Hills, California (90210); Median home sale price in 2019: $4,080,000
  • 3. Santa Monica, California (90402); Median home sale price in 2019: $4,154,000
  • 2. Sagaponack, New York (11962); Median home sale price in 2019: $4,300,000
  • 1. Atherton, California (94027); Median home sale price in 2019: $7,050,000

Meanwhile, U.S. new-home construction rose in October as single-family starts registered the strongest pace since the beginning of the year. The highest level of permits since 2007 shows healthy homebuilding ahead.

Residential starts advanced 3.8% to a 1.31 million annualized rate, in line with the median estimate in a Bloomberg survey of economists, after a revised 1.27 million pace in the prior month, according to Commerce Department figures released last week. Permits, a proxy for future construction, rose 5% to a 1.46 million pace, the most since May 2007.

To be sure, sales of previously owned U.S. homes increased in October as buyers responded to falling mortgage rates, extending a recovery in the residential real estate market this year that’s providing a modest boost to economic growth.

Contract closings rose to a 5.46 million annual rate, up 1.9% from September, marking the third advance in the last four months, the National Association of Realtors said last week. Economists surveyed by Bloomberg had projected a 5.49 million pace. The median sales price rose 6.2% from a year earlier to $270,900.

This report uses material from Bloomberg and Reuters.

© 2020 Newsmax Finance. All rights reserved.


   
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Online real-estate resource-site PropertyShark has narrowed down the top 100 most expensive U.S. ZIP codes for buying a home.
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2019-32-25
Monday, 25 November 2019 08:32 AM
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