The priciest ZIP code in the country boasts a median home price of more than $4.5 million, according to a new list by Forbes that tracked home prices of more than 20,000 ZIP codes nationwide to determine the most expensive areas.
Appraiser Jonathan Miller, chief executive of New York’s Miller Samuel, told Forbes that he’s seen an increase in listings that fall under the luxury bracket this year. “It’s not that we’re seeing prices rise, it’s that we’re seeing more activity,” Miller told Forbes. Compared to 2010 figures, the median home prices in 500 of the most expensive ZIP codes dropped slightly by 2 percent.
Here are the five priciest ZIP codes in the country, according to Forbes.
1. Alpine, N.J.: 07620
Median home price: $4,550,000
2. Atherton, Calif.: 94027
Median home price: $4,295,000
3. Sagaponack, N.Y.: 11962
Median home price: $3,595,000
4. Hillsborough, Calif.: 94010
Median home price: $3,499,000
5. Beverly Hills, Calif.: 90210
Median home price: $3,469,891
Source: “Where You Aren’t: Most Expensive ZIP Codes,” Forbes (Oct. 19, 2011)
Comment from Bob Karp of Karp Properties LLC: With the median home price in our zip codes, 85650, 85635, 85615 all under $200,000 – you realize that the rich are indeed different than you and I. Certainly the most “famous” zip code on the list above is the Beverly Hills location. I used to live only a few minutes from there, but it was certainly a completely different world.