The luxury market continues to thrive, even though home price growth has slowed throughout the year. In fact, a new report from Property Shark shows that almost 70% of luxury goods markets have seen price increases starting in 2023.
A new report from Property Shark examined home transactions and home sales prices from January 1 to September 30, 2024 to determine the most expensive ZIP codes in the United States in 2024.
The report found that 67% of the nation’s top 100 most expensive ZIP codes saw median sales prices increase in 2024, compared to 29% in 2023. As a result, 15 ZIP codes had a median sales price of $4 million or more, and only 15 maintained it. Less than $2 million.
Other important highlights include:
Atherton, California remains #1 most expensive zip code in the U.S. for 8 consecutive years
Sagaponack and Watermill in the Hamptons rank second and third among the most expensive ZIP codes at just under $6 million each.
Newport Beach, California claims an unprecedented third place among the top 10 most expensive ZIP codes in the country
New York City remains the top city for expensive real estate, accounting for six of the nation’s top 100 zips, led by Tribeca’s 10,013.
5 locations exceed $5 million and only 15 locations remain below $2 million.
78% of the most exclusive ZIP codes in the United States are located in the Bay Area, Los Angeles metropolitan area, and New York metropolitan area.
Los Angeles, Santa Clara and Orange counties each claim the highest concentration of more than 10 high-cost ZIP codes
The #1 most expensive ZIP code in Arizona, Florida, Maryland, and New Jersey sets a new price record at $5.75 million.
Nantucket, Massachusetts leads New England’s expensive real estate at $2.9 million
Riverside leads Connecticut with $2.51 million and New Castle leads New Hampshire with $2.19 million.
$4 million medina tops Washington state; $2.1 million Crystal Bay is Nevada’s most exclusive
For the complete report, click here.