National Association of Home Builders CEO Jerry Howard discusses mass movement from large cities to the suburbs amid the coronavirus pandemic.
In a year dominated by the coronavirus pandemic, devastating climate events, and an unprecedented economic crisis, California home sales are soaring.
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Data from the U.S. Census Bureau released last week showed Americans are increasingly moving to the Golden State, with the highest percentages of transplants in the U.S. occurring west of the Mississippi River.
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In a new PropertyShark ranking, the real estate agency confirmed that California had secured its position as the most expensive housing market.
The northern city of Atherton -- ZIP code 94027 -- is at the top of the charts for the fourth year in a row with a median sale price of $7 million. Southern Los Angeles County, meanwhile, lays claim to the highest concentration of expensive ZIP codes at the county level.
A mansion in Atherton, California. The small town in Silicon Valley has the most expensive housing market in the U.S. (Photo by Justin Sullivan/Getty Images)
Northbound on the Grapevine, San Francisco has 11 of the priciest ZIP codes -- the highest concentration of any city -- and L.A., the Bay Area, and New York City reportedly account for 103 high-price ZIP codes.
The Hamptons' Sagaponeck -- home to just over 300 residents -- is second to Atherton for the third consecutive year, coming in at $3.88 million.
Still, for the first time in half a decade, TriBeCa -- the site of the Tribeca Film Festival -- is not one of the top 10, as the Big Apple felt the effects of COVID-19 more severely than other areas.
In a historic first, no NYC ZIP codes ranked among the 10 most expensive in the country.
That said, 107 of the 121 ZIP codes with the highest medians were in California and New York, and New York City's Upper West Side saw a median increase of 42%.
Massachusetts had the third-most ZIP codes with four in the ranking.
The famed Beverly Hills 90210 and Santa Monica are tied for the number three slot.
Washington State's King County -- home of Seattle -- hit the list at number 9 with a median sale price of $3.2 million and Florida's Miami-Dade County was in the twenty-third slot with a median sale price of $2.7 million.
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Median sales prices were determined based on closed home sales, notably removing the impact of what PropertyShark calls "ultra-luxury listings."
The data collected was taken using residential sales closed between Jan. 1 and Oct. 16, 2020.
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California, New York house most expensive US ZIP codes - Fox Business
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