The 25 priciest ZIP codes in the country are top-heavy with Bay Area addresses: Nine of the glitziest concentrations of residential real estate are in Silicon Valley. Four of those — in Atherton, Palo Alto, Los Altos and Portola Valley — are in the Top 10.
That’s the word from the PropertyShark website, which has been showing a talent for compiling gaudy information on the real estate front. Last week, it published a report on 18 billionaires — Gates, Bezos, Ellison, Zuckerberg, etc. — showing that their combined wealth could buy nearly every residence in Silicon Valley and San Francisco along with tech-centric portions of the East Bay. The whole bundle, 33 cities, would cost $846 billion.
But back to ZIP codes.
PropertyShark concludes that Atherton’s 94027 ZIP code is No. 2 in the U.S., with a median sale price of $5,425,000 — though that’s down 8 percent from 2015. Palo Alto’s 94301 (which includes downtown, Old Palo Alto and Crescent Park) is No. 8, with a median price of $2,935,000; Los Altos’s 94022 is No. 9 ($2,831,250) and Portola Valley’s 94028 is No. 10 ($2,815,000).
For the second year running, the No. 1 position on the list is held by New York’s Sagaponack — in the Hamptons — where the median sale price of a home is $5,500,000.
Among the 25 priciest ZIP codes, 17 are in California, six in New York State, one in Florida and one in Massachusetts. Rich people stick to the coasts.
Here’s the report.
And here are a few of the ZIP codes that may ring bells for you: Manhattan’s 10013, which includes parts of TriBeCa, SoHo and Hudson Square, is No.3 ($3,808,765); Miami Beach’s 33109 is No. 4 ($3,400,000); and Beverly Hills’ iconic 90210 is No. 7 ($3,128,250), having dropped from No. 3 in 2015.
Other Top 25 ZIP codes from the Bay Area include Los Altos’s 94024 (No. 15, $2,637,500); Burlingame’s 94010 (No. 22, $2,234,000); Palo Alto’s 94306 (No. 23, $2,227,500); San Francisco’s 94123 (No. 24, $2,210,000); and Los Gatos’s 95030 (No. 25, $2,180,000).
Tech centers that failed to make the Top 25 are Menlo Park (its 94025 ZIP code is No. 38 with a $1,850,000 median) and Mountain View, which isn’t even on the list. Can you believe it? Maybe the preponderance of condo and townhouse sales in those cities is a drag on the overall median prices.
Photo from Mercury News archives