I did some number crunching on their data as follows:
I. Most Expensive Median Sales Price and Price Change
- Top 10 are dominated by the zip code in California dn New York metro area.
- Most of Top 10 zip code has shown declined median price.
* With regard to Brookside and Duarte, since inventory is very small, their price might not be statistically relevant.
ZIP Code City/State Median Price Change
1 7620 Alpine, N.J. $4,139,041 -23%
2 94027 Atherton, Calif. $3,849,133 -26%
3 10014 New York, N.Y. $3,521,514 -24%
4 91008 Duarte, Calif. $3,444,773 ＋18%
5 90210 Beverly Hills, Calif. $3,367,167 -5%
6 92067 Rancho Santa Fe, Calif. $3,362,493 -12%
7 93108 Santa Barbara, Calif. $3,284,652 -9%
8 94024 Los Altos Hills, Calif. $3,277,500 4%
9 10065 New York, N.Y. $3,176,534 -10%
10 7926 Brookside, N.J. $3,121,115 ＋17%
II. Worst 10 Zip Code with Price Decline
- Clarksburg near Sacramento CA has shown the largest decline since Sacrament is one of worst hit metropolitan area.
- Somehow, 4 out of Worst 10 zip code is in New York suburb. I guess significant slump in financial industry affects well-to-do Wall Street executives.
ZIP Code City/State Median Home Price
1. 95612 Clarksburg, Calif. $547,077 -44% （Sacramento CA)
2. 7976 New Vernon, N.J. $2,099,629 -34% (NYC Metro)
3. 11965 Shelter Island Heights, N.Y. $1,856,154 -31% (NYC Metro)
4. 81657 Vail, Colo. $1,724,429 -30%
5. 7931 Far Hills, N.J. $1,733,601 -29% (NYC Metro)
6. 94104 San Francisco, Calif. $1,321,038 -29% (Financial District)
7. 96712 Haleiwa, Hawaii $990,468 -28% (Honolulu Metro)
8. 94960 San Anselmo, Calif. $868,106 -28% (San Francisco Metro)
9. 11559 Lawrence, N.Y. $866,046 -28% (NYC Metro)
10. 91302 Calabasas, Calif. $1,503,358 -27% (LA Metro)
III. Average Days on the Market
- Second home markets such as Olympic Valley, Calistoga, Miami Beach and Tahoe City shows 300+ days to sell.
- It is interesting to note that there are four VA/MD zip code in Washington DC metro.
ZIP Code City/State # Median Price Change Average Days on Market
1. 20129 Paeonian Springs, Va. $734,988 10% 403
2. 96146 Olympic Valley, Calif. $646,600 -19% 381
3. 94515 Calistoga, Calif. $1,335,577 -26% 365
4. 33109 Miami Beach, Fla. $2,484,958 -15% 358
5. 21056 Gibson Island, Md. $3,031,923 3% 354
6. 10069 New York, N.Y. $1,440,500 -4% 317
7. 20143 Catharpin, Va. $740,754 -17% 316
8. 20861 Ashton, Md. $795,358 -5% 313
9. 96145 Tahoe City, Calif. $704,065 -13% 308
10. 94104 San Francisco, Calif. $1,321,038 -29% 307
IV. Zip Code with Highest Median Household Income
- For those who own luxury property, majority of household have significant passive income such as investment, dividend and rental income. However, it seems that there are strong correlation with salaried income as well.
- Having said that, with $200,000 household income, maximum amount you can borrow is only $1 million due to tighter lending. This means, you need to have significant passive income or massive down payment.
ZIP Code City Median Home Price Change Median Household Income
1 33109 Miami Beach, Fla. $2,484,958 -15% $200,001
2 60043 Kenilworth, Ill. $1,948,586 9% $200,001
3 94027 Atherton, Calif. $3,849,133 -26% $200,001
4 92067 Rancho Santa Fe, Calif. $3,362,493 -12% $196,298
5 7078 Short Hills, N.J. $1,549,129 -6% $185,466
6 10577 Purchase, N.Y. $2,709,154 -20% $183,686
7 10514 Chappaqua, N.Y. $1,061,020 -6% $173,368
8 60022 Glencoe, Ill. $1,092,330 -16% $171,063
9 94028 Portola Valley, Calif. $2,391,997 3% $164,479
10 11568 Old Westbury, N.Y. $2,219,483 -10% $163,046
V. Ranking of States that has Most Top 500 Zip Code
- California rules (still)! 270 out of Top 500 most expensive zip code is located in California, followed by NY, NJ, MD, CT, MA, etc....
1. California 270
2. New York 85
3. New Jersey 33
4. Maryland 16
5. Connecticut 15
6. Massachusetts 14
7. Virginia 10
8. Florida 10
9. Illinois 8
10. Colorado/Hawaii/Washington 5
VI. Ranking of Metropolitan Area that has Most Top 500 Zip Code
- San Francisco Bay Area lead with 141 zip codes. This is quite notable as SF Bay Area's population is 1/3 of New York Metro.
- It is also notable that how expensive California's Central Coast (Santa Barbara, Monterrey and San Loius Obispo Metro) real estate properties are, considering there is no significant industry. How can regular people make living in Central Coast????
1. San Francisco Metro 141
2. New York Metro 131
3. Los Angeles Metropo 86
4. Washington DC Meto 29
5. Boston Metro 14
6. San Diego Metro 13
7. Santa Barbara 9
8. Chicago 8
9. San Louis Obispo 7
10. Monterey 7
VII. Ranking of City that has Most Top 500 Zip Code
- New York City (Manhattan) is definitive leader in this category, followed by San Francisco CA.
１. New York, N.Y. 28 (Manhattanのみ）
２. San Francisco, Calif. 18
3.; Los Angeles, Calif. 17
4. San Jose, Calif. 9
5. Santa Barbara, Calif. 7
6. Great Neck, N.Y. 4
6. Newport Beach, Calif. 4
6. Oakland, Calif. 4
6. Santa Monica, Calif. 4
US real estate market decline started with low-end of properties and spreading upward toward luxury housing. Since conforming mortgage limit is $720,000 in the market like SF or Manhattan, I see continuous decline in higher end real estate. We'll see how it goes in 2010!
Happy Investing!!!!
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