Hang on to your hat.
The winner is Atherton, a small town in Silicon Valley with just one zip code, with a median sale price (not asking price) of $4.95 million in 2017. But that’s down 8.8% from the even juicier $5.5 million in 2016.
It beat Sagaponack’s 11962 zip code. The community in the Hamptons had reigned supreme in the prior two years. But in 2017, it dropped to 15th place ‘mainly due to more sales recorded at lower price points, which slashed its median sale price in half,’ to just $2.82 million, according to Yardi’s PropertyShark. That’s quite a step down from $5.5 million last year.
In second place is New York City’s 10013 zip code, which covers TriBeCa with its luxury condo developments. It came in with a median sales price of $4.1 million, up 7.7% from last year.
In third place is 33109 in Fisher Island, ‘a small, secluded island community’ in Miami-Dade County, with a median sales price of $4.05 million, which is up nearly 20% from 2016.
This post was published at Wolf Street on Dec 19, 2017.