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California holds 73% of the nation's priciest ZIP codes for home buyers

Jack Flemming, Los Angeles Times on

Published in Home and Consumer News

Angelenos don't need a study to know that homes are expensive in L.A., but here's one anyway: According to a new report from real estate database PropertyShark, California has accounted for roughly 73% of the country's priciest ZIP codes for home buyers this year.

The analysis of residential transactions from January to November found that the Golden State is home to 91 of the nation's 125 most expensive ZIP codes, based on median home sale prices. It's a substantial jump compared with a similar study in 2018, which found that California claimed 82 of the top spots. In 2017, it had 77.

The Silicon Valley enclave of Atherton, a hot spot for athletes and tech millionaires, topped the national list for the third straight year. The median home in the city's 94027 ZIP code sold for a whopping $7.05 million. Last month, the mammoth estate of late Microsoft Corp. co-founder Paul Allen listed there for about $41.5 million, The Times previously reported.

A New York community took the second spot. In the Hamptons village of Sagaponack's 11962 ZIP Code -- an area full of shingled mansions on flat, grassy plots -- the median sale price was $4.3 million.

Santa Monica's 90402 ZIP Code saw its median home sell for $4.154 million, a healthy 10% leap year over year, meriting third place on the list. Beverly Hills' famed 90210 ZIP Code ranked fourth, with the median home selling for $4.08 million, a massive increase of 27% year over year.

Three other Bay Area ZIP codes were in the top 10: Palo Alto's 94301 ZIP Code at $3.522 million, Los Altos' 94022 ZIP Code at $3.45 million, and Ross' 94957 ZIP Code at $3.35 million.

Los Angeles County has 21 ZIP codes on the list. Pacific Palisades' 90272 ZIP code ranked No. 27 nationally at $2.5 million, and Manhattan Beach's 90266 ZIP Code ranked No. 32 at $2.2 million. Farther east, San Marino's 91108 ZIP Code, known for its schools, ranked No. 34 at $2.13 million.

 

Five neighborhoods in the city of L.A. made the list, with Brentwood's 90049 ZIP Code ranking the highest at $2.088 million. Bel-Air's 90077 ZIP Code comes in right after at $1.758 million, followed by Beverly Grove's 90048 ZIP Code at $1.675 million, La Brea's 90036 ZIP Code at $1.673 million and Rancho Park's 90064 ZIP Code at $1.45 million.

Behind California, New York has the most ZIP codes on the list with 18. A couple other East Coast states -- Connecticut and Massachusetts -- have three each. New Jersey, Washington and Nevada each have two, while Arizona, Florida, Maryland and New Hampshire have one.

The study includes condos, co-ops, single-family homes and two-family homes.

(c)2019 Los Angeles Times

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