For the second year in a row Sagaponack’s 11962 was ranked the #2 most expensive zip code in the U.S., according to PropertyShark’s annual report on the 100 most expensive zip codes. Once again, the village located within the Town of Southampton was edged out by Atherton’s 94027 (CA), which took home the #1 most expensive zip code title for the third year in a row thanks to its $7,050,000 2019 Median Sale Price. Sagaponack’s Median Sale Price came in at $4,300,000.
“While in 2018 Sagaponack had the most impressive price growth, coming off a 95% y-o-y appreciation, in 2019 Sagponack’s median was down 22%. However, even a $1.2 million drop in its median wasn’t enough to knock the pricey enclave off #2,” Eliza Theiss, PropertyShark real estate writer and author of the report, explained. “It remains to be seen what the price evolution of Santa Monica’s 90402 and Beverly Hills’ 90210 will be, since both surpassed the $4 million mark in 2019. 02199 in Boston’s tony Back Bay could also pose a threat to Sagaponack – after all, 02199 was third last year with a median of $4,772,500.”
Last year six Hamptons zip codes made the list, however only four earned a spot on the 2019 list. “The most important distinction between this year’s ranking and 2018’s from the perspective of the Hamptons is that fewer Hamptons zips made it into the top,” Theiss shared. “The good news for Hamptonites is that it has less to do with the area losing its popularity, and more with Hamptons medians contracting, while other areas (especially from California) gained ground due to surging prices.”
In 2018, 11962 (Sagaponack), 11976 (Water Mill), 11932 (Bridgehampton), 11975 (Wainscott), 11930 (Amagansett) and 11959 (Quogue) made the cut. “2019’s ranking features four prominent Hamptons communities: top 100 zip codes darling Sagaponack (#2), Bridgehampton (#23), Water Mill (#35) and Amagansett (#43), meaning the four Hamptons zips ranked in the upper half of the top 100,” Theiss said.
Bridgehampton’s Median Sale Price was $2,550,000, Water Mill’s Median Sale Price was $2,125,000, and Amagansett’s Median Sale Price was $1,941,000.
“Water Mill’s 11976 and Amagansett’s 11930 also saw their medians trend down: 11976’s was down 26% y-o-y and 11930 was down 10%. Bridgehampton though, came back to more familiar ground at #23, after last year it ranked only on #46. In 2017 Bridgehampton was at #26, while in 2016 it ranked on #79 with a median of only $1,462,500 – a far cry from 2019’s $2.55 million,” Theiss noted.
The annual report is based on closed sale prices.
“As for other notoriously pricey Hamptons zips, quite a few hovered just outside the top 100 this year, but their price contraction and especially the dynamic price growth in California, simply outpaced them and pushed them out of the rankings,” Theiss concluded.
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