The New Jersey Luxury Real Estate Blog

New Jersey Claims Two Spots In 2017's Top Priciest Zip Codes In The US

Ranking the priciest zip codes in the US based on closed home sales

It’s December which means it’s time for our annual report on the 100 most expensive zip codes in the United States. We consider our report to be the most accurate benchmark of the country’s most exclusive areas as we are the only publisher who is analyzing closed sales prices and not asking prices. This allows us to avoid presenting inflated prices that are the result of luxury listings lingering longer on the market and which are frequently the subject of hefty price cuts. Conversely, in some highly competitive markets like Silicon Valley and San Francisco where bidding wars are the norm, average asking prices may be lower than what people end up paying to own a coveted piece of real estate.

Sagaponack’s 11962 loses its title as the priciest zip code, slides to 15th spot

After winning the title of most expensive zip code in the US two years in a row, Sagaponack’s 11962 lost to Atherton in 2017. The exclusive Hamptons community dropped all the way to 15th position, mainly due to more sales recorded at lower price points, which slashed its median sale price in half. In 2017, Sagaponack’s median sale price was $2,819,000, while the barrier for entry in the top 10 is $3 million.

Sagaponack was also outranked by two neighboring zip codes – 11976 in Water Mill and 11975 in Wainscott, which broke into the top 10 in 2017, each climbing 7 spots from last year and reshuffling the top 10 as the only new entries.

With Sagaponack out of the picture, the top 3 positions are now claimed by zip codes from three different states: California, New York, and Florida. The nation’s priciest zip codes feature very different housing markets: Atherton’s...