It's no secret California is home to some of the most expensive real estate in the world. There is a lot of expensive real estate in California, and year after year new housing data only proves it.
The real estate research site Property Shark has released its annual list of Top 100 most expensive zip codes based on median home sale prices, a list that - you guessed it - is dominated by California neighborhoods and cities.
The uber-exclusive Silicon Valley suburb of Atherton took the top spot as the most expensive zip code, which is nearly inconsequential, because it has for three consecutive years. Atherton, in fact, experienced 5 percent sales growth to reach a median sales price of $7,050,000, making 2019 the first year in which a zip code’s median sold price surpassed $7 million.
If you live in California it's likely none of this will move your needle. But the fact that nearly the entire list is comprised of California zip codes shines a glaring light on the ongoing housing crisis in the Golden State.
Of the 124 zip codes ranked on the list (there are 100 spots ranked, plus ties) a total of 91 are located in California. The Bay Area alone had 55 neighborhoods on the list and 13 are in located San Francisco, which appears on the list more times than any other city.
So nearly the entire list is consumed by California. Here are additional key takeaways from the report:
- California claimed six of the top 10 spots on the list. Four (Atherton, Palo Alto, Los Altos and Ross) are located in the Bay Area, along with Beverly Hills (4th) and Santa Monica (3rd) within the L.A. metro.
- The Bay Area claimed the title of most expensive metro area with 55 zips on the list.
- The San Francisco zip with the highest showing on the list was 94123 (primarily the Marina District) in 38th place at a bit more than $2 million. The most expensive zip code in L.A. with a median sale price of $2,088,000 was Brentwood's 90049, ranking 37th nationally.
- Los Angeles County is the most expensive among all counties nationally, containing a whopping 21 of the priciest zips. Next are fellow Californian counties Santa Clara (17), San Francisco (13) and San Mateo (11).
- A total of 14 zip codes have a median sold price that eclipsed $3 million, of which 9 are located in California.
Business Insider takes a closer look at the Top 25 zips on the list. You can also view the 2018 Property Shark rankings here.