With the prices of real estate these days, especially on Long Island, it’s no wonder that New York State listings account for 18% of the most expensive zip codes in the United States with Sagaponack’s 11962 earning the spot for third most expensive zip code in the country.
RealtyHop‘s fourth annual report of the 100 Most Expensive U.S. Zip Codes, released late last month, New York ranked as the state with the second most expensive market in the nation, based on 3.64 million listings in 2023.
Even though its median price of $5.9 million didn’t change from 2022, it dropped one spot to third place this year, behind Atherton’s 94027 and Beverly Hills’ 90210 in California. Ranked the most expensive zip code for the fourth year in a row Atherton’s median price is a whopping $7,950,000, while Beverly Hills’ median price is $6,290,000.
RealtyHop says it put together the report by pulling every real estate listing advertised in the country this year and sorted by zip code, then ranked the zips by median price.
According to the report, the most “expensive zip codes are less expensive this year, likely affected by market uncertainty.” In fact, 53 zip codes on the list saw a median price point of at least $2,500,000, compared to 61 in 2022. The median price point out of the 100 most expensive zip codes is $2,597,500 — $152,000 lower than last year, the report says.
An example was right here in the Hamptons. Water Mill came in at the No. 5 spot, one spot higher than last year, but its median list price fell from $5.5 million to $4.95 million. Bridgehampton fell to the No. 16 spot from No. 10 last year when its media list price was $4.395 million. Now, it’s $3.75 million.
Elsewhere on Long Island, the Village of Mill Neck in Nassau County’s 11975 fell to the 33rd spot with a $2,997,500 median listing price. Last year, it was $4 million.
This year, Amagansett’s 11932 was ranked 26th with a $3.2 million median list price. Last year, it was 13th on the list, after a 39.46% increase, to $4.25 million.
In 2022, Quogue’s 11959 came in 16th on the list with a median price of $3,999,999, up 18.5% over 2021. It fell to 30th on the list as its median listing price was $3.125 million.
Old Westbury, also in Nassau County, earned the 39th spot with a $2.9 million median asking price. Great Neck’s 11024 came in at No. 66 with $2,387,000.
Also in the bottom 50 for this year were Wainscott’s 11975 at $2,545,000 ranked 51 (last year it was 36th).
Remsenburg-Speonk came in at No. 58 at $2,474,500. The 11960 zip code in Remsenburg, which Behind The Hedges reported as a newly discovered “secret” in the Hamptons, made the RealtyHop list for the first time last year, but even its median list price fell a bit from $2.5 million.
The Sag Harbor area of 11963 ranked 71st with a median listing price of $2,290,000. Lastly, Montauk’s 11954 came in at 87th with a $2,100,000 media listing price.
Three East End zip codes did not make the list this year; 11968 in Southampton Town, 11937 in East Hampton Town, and 11978 in Westhampton Beach.
Also worth noting, New York City is home to five of the most expensive zip codes, even though three of the areas got seemingly less expensive year-over-year. The 10013 zip code, which houses parts of TriBeCa, Chinatown, and NoLita, decreased 9.7% in median list price to $3,607,500, for instance.
The only Brooklyn zip code is 11231, covering Carroll Gardens and Red Hook, came in as No. 81. The median asking price there is $2,175,000, 3.57% higher than last year.