Despite slowing growth in home prices throughout the year, luxury markets continue to thrive. In fact, almost 70% of luxury markets saw price increases from 2023, according to a new report from Property Shark.
Property Shark’s new report looked at residential transactions and the home sale prices from Jan. 1 to Sept. 30, 2024 to determine the U.S.’s most expensive zip codes in 2024.
The report found that 67% of the country’s 100 most expensive zip codes saw median sale prices increase in 2024, compared to 29% in 2023. As a result, 15 zip codes had median sale prices of $4 million and above, and only 15 stayed below $2 million.
Other key highlights include:
- Atherton, California remains #1 most expensive zip code in U.S. for 8th consecutive year
- The Hamptons’ Sagaponack and Water Mill rank as #2 and #3 most expensive zip codes, respectively, just shy of $6 million
- Newport Beach, California claims an unprecedented three spots among the country’s 10 priciest zip codes
- NYC remains the top city for expensive real estate, claiming six of the country’s top 100 zips with TriBeCa’s 10013 in the lead
- Five locations surpass $5 million, only 15 stay below $2 million
- 78% of the most exclusive U.S. zip codes are clustered in the Bay Area, metro LA and the New York metro
- Los Angeles, Santa Clara and Orange counties claim highest concentrations of expensive zip codes with more than 10 each
- The #1 most expensive zip codes in Arizona, Florida, Maryland and New Jersey set new price records as high as $5.75 million
- Nantucket, Mass., leads expensive New England real estate at $2.9 million
- Riverside heads Connecticut at $2.51 million, New Castle leads New Hampshire at $2.19 million
- $4 million Medina tops Washington State, $2.1 million Crystal Bay is Nevada’s most exclusive
For the full report, click here.
