From Realtor Magazine Online, Daily Real Estate News September 1, 2009
This year, home prices fell in the nation’s most exclusive neighborhoods.
In Alpine, N.J., which tops Forbes’ magazine’s list of America’s 500 Most Expensive Zip Codes, home prices declined 23 percent in the last year. Overall, asking prices in the zip codes on Forbes’ list dropped an average of 7 percent. Prices are only rising in a few areas. For instance, on New York’s Upper West Side, zip code 10023, prices rose 4 percent in the last year.
Forbes’ list was compiled by Altos Research, a real estate data collection and research firm that tracks about 90 percent of all real estate transactions.
Based on Altos’ figures, here are the country’s 10 most-expensive Zip codes and the median home prices there:
1. 07620, Alpine, N.J., Median Home Price: $4,139,041
2. 94027, Atherton, Calif.: $3,849,133
3. 10014, New York, N.Y.: $3,521,514
4. 91008, Duarte, Calif.: $3,444,773
5. 90210, Beverly Hills, Calif.: $3,367,167
6. 92067, Rancho Santa Fe, Calif.: $3,362,493
7. 93108, Santa Barbara, Calif.: $3,284,652
8. 94024, Los Altos Hills, Calif.: median unavailable
9. 10065, New York, N.Y.: $3,176,534
10. 07926, Brookside, N.J.: $3,121,115
Source: Forbes, Francesca Levy (08/27/2009)
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