Savvy real estate investors know California for its high real estate prices. That trend does not appear to be changing any time soon. A recent report has California ZIP codes claiming 70% of the spots on the list of the 100 most expensive ZIP codes in the United States.
What does this mean for the California real estate market?
Most expensive ZIP codes
Los Angeles County claimed 21 spots on the list, making it one of the hottest real estate markets in the country. The 90210 ZIP code took the honors with the county’s highest median sale price of $4,125,000. It took sixth place in the overall rankings. Santa Monica’s 90402 ZIP code also placed in the top 10, with a median price of $4,058,000. Los Angeles captured six spots on the list, with the Pacific Palisades 90272 ZIP code taking the lead with a median price of $3,250,000.
Other counties making the list include Santa Clara, San Mateo and Orange County. California ZIP codes accounted for six out of 10 top spots in the rankings and 89 total entries on the 127 ZIP code list. The number one spot goes to Atherton’s 94027 ZIP code with a median sales price of $7,475,000. The Bay Area claimed a total of 47 spots.
What this means for the real estate market
These figures suggest that California will continue to be a seller’s market in the foreseeable future, with home sales breaking records almost monthly in some areas.
If you are a property owner in California, now might be a good time to take advantage of a hot market. If you are looking to buy, expect to pay a premium price.