Already distinguished by its high property values, one of San Marino’s ZIP codes has risen in real estate website PropertyShark’s ranking of the nation’s most expensive postal zones according to median home sale price.
With a median price of $2.13 million, the 91108 ZIP code was ranked No. 34 overall among the priciest codes nationwide this year, up from No. 38 last year, when the median price was $2.109 million. The ZIP code distinguished itself in Los Angeles County as well, checking in as the county’s fifth most expensive code after 90402 (Santa Monica, third overall at $4.154 million), 90210 (Beverly Hills, fourth overall at $4.08 million), 90272 (Pacific Palisades) and 90266 (Manhattan Beach).
For the third straight year, Atherton’s 94027 ZIP code topped the ranking, with the median home price in the Silicon Valley town a whopping $7.05 million. In second place was the 11962 postal zone in Sagaponack, New York, at $4.3 million.
The list itself is very nearly a list of California’s most expensive ZIP codes. Out of the top 100, 91 are in the Golden State. Of those, 55 are in the Bay Area and 21 are in L.A. County, making the latter the most expensive county in the nation, by PropertyShark’s calculation. Notably, the website said nearly half of the L.A. Metro area’s market saw median prices jump by at least 20% in the past five years, and a third of the Bay Area’s median prices surged by at least 40% in that time frame.
According to its website, PropertyShark “has been tracking the most expensive U.S. ZIP codes for years, analyzing nationwide residential transactions to provide the most accurate snapshot of the nation’s most expensive markets.” The site’s data are often cited by real estate agents.
To come up with the list, PropertyShark compiled all residential transactions that closed between Jan. 1 and Nov. 5 this year, taking into account condominiums, co-ops and single- and two-family homes, the website said. Sales or purchases of several properties, such as portfolio purchases, are excluded from the calculation, an official from the website explained in an email.
For an accurate representation, PropertyShark considered only ZIP codes that registered at least three residential transactions, according to the site. Due to a number of ties, 125 ZIP codes made it into PropertyShark’s ranking this year. Median sale prices were rounded to the closest $1,000.
— Zane Hill