In a report out this week, Sagaponack has been listed as the second most expensive zip code in the country when it comes to real estate listings. Water Mill and Bridgehampton also made the top 10 on the list of the top 100 most expensive zip codes.
Every real estate listing advertised in the United States between January 1 and October 18, 2022, was pulled to calculate RealtyHop’s third annual Most Expensive Zip Codes Report. That’s 3.64 million reports, sorted by zip code, which were then ranked by median price, to form a list of the most expensive markets in the nation.
For the third year in a row, the report put the 94027 zip code in Atherton, California, a suburb of Los Angeles, as the most expensive zip code in the country thanks to a median price of $9 million, an increase of 0.56% from $8.95 million last year.
As for Sagaponack, its median listing price was $6,972,000. With high-end listings like Dana Trotter’s $21.5 million listing or Hedgerow’s $34.5 million listing (since reduced to $27.5 million), its no wonder why it even places above Los Angeles’ most famous zip code, 90210, which came in third with a median price of $6,699,500.
Last year, PropertyShark’s top 100 zip codes list also had Sagaponack at the top.
Sagaponack and Other Zip Code’s Median Prices Increased
Sagaponack saw a sizable increase this year, up 16.3% from 2021 when the figure was $5,995,000, it wasn’t the biggest in the country or the Hamptons. Amagansett’s 11930, which was 13th on the list, saw the largest median price increase this year — a whopping 39.46% — to $4.25 million. Another area in New York to see a comparable increase was 11765, the Village of Mill Neck in Nassau County, which rose 35.59% to a median price of $4 million.
Overall, the list shows the market has grown more expensive in 2022. “The median price point out of the 100 most expensive zip codes is $2,749,500, an increase of 11.03% from $2,476,250 last year,” according to the report.
Sixty of the 100 zip codes now have a median price point of at least $2.5 million, compared to 47 in 2021.
More Hamptons Zip Codes Make the List
Water Mill came in at number six on the list with a median price of $5.5 million.
Bridgehampton’s 11932 joined Sagaponack and Water Mill on the top 10 list, inching up the list into the tenth spot. Along with the 02199 zip code in Boston, Massachusetts, they replaced 90077 in Los Angeles and 94301 in Palo Alto, California.
California still has the largest number of most expensive zip codes in any state with 59 making the list. “Los Angeles has the highest number of expensive zip codes per city, with seven, followed by NYC and Newport Beach, with six each,” the report says.
Quogue’s 11959 came in 16th on the list with a median price of $3,999,999, up 18.5% over last year when the number came in at $3,374,000.
Wainscott’s 11975 took the 36th spot with $3,097,500, a small increase of 3.42% from last year.
In the 46 spot, RealtyHop has the 11963 zip code, which it listed as Noyac, though it is a zip for all of Sag Harbor, including the village. The median price was $2.795 million, a 24.36% rise from last year’s $2,247,000.
The 11960 zip code in Remsenburg, which Behind The Hedges recently reported as a newly discovered “secret” in the Hamptons, also made the RealtyHop list for the first time with a $2.5 million median price.
The 11968 zip code, part of Southampton, was listed as 67 with a $2.495 million.
The 88th spot went to 11937, which is all of East Hampton, but it was listed as simply Northwest Harbor. The median price was $2,167,500.
Westhampton Beach made the list for the first time, coming in at 92 with a median price of $2.1 million.
Only 13 states in total made the 100 most expensive zip codes list, seeing two more states join the list.
RealtyHop’s report uses houses, townhomes, condos, co-ops, multifamily and triplexes to calculate the report. “Any listings classified purely as “land” were excluded from the study. Any listings with invalid zip codes, including single-building zips located in New York City, were also excluded,” the report explains.