Though the median price for a home in the top 10 percent of markets nationwide is $1.3 million, that pales in comparison to the country’s priciest neighborhoods, where median listing prices for the very top end of luxury real estate start at around $6 million, according to a new report from Realtor.com.
Two zip codes on Long Island made the top 10 list, with Bridgehampton ranked third with a median listing price of $8.495 million and Water Mill ranked at number eight with a median listing price of $6.845 million, according to the report.
Nearly every active listing in these East End zip codes is over $1 million, while the priciest 1 percent of listings can reach $59 million in Bridgehampton and $61 million in Water Mill. Both neighborhoods saw significant drops in listing views on Realtor.com compared with a year ago, with Bridgehampton listing views down 28 percent and Water Mill listing views dropped 49 percent. Besides having big prices, the listings in the two hamlets also have plenty of space, with Bridgehampton’s median listing measuring 4,748 square feet and Water Mill’s at about 5,191 square feet, according to the report.
Nationally, the exclusive enclave of Fisher Island in Miami Beach led the top 10 list with a median listing price of $11.925 million, followed by the Newport Coast area of Newport Beach, Calif. with a median listing price of $9.099 million. As usual, California dominated the priciest zip codes list with seven in the top 10.
One caveat with the report is that the zip codes considered had to have at least 30 active listings, which left off some of the usual priciest neighborhoods, like Sagaponack and Atherton, Calif., because of smaller listing inventories.
The report found that the top 5 percent of homes nationally list for around $5.5 million, and just under 14 percent of active listings are priced above $1 million. The top 1 percent of priciest listings within the U.S. are priced at $5.7 million and up.
The full report can be found at realtor.com/research/americas-most-expensive-zips/.
(Except for the headline, this story has not been edited by PostX News and is published from a syndicated feed.)
