As if you didn't already think it was so, Forbes Magazine has crunched the data and -- the San Francisco area is #1 on the list. Whether it's the Facebook millionaires or the exodus of wealthy Chinese buyers seeking world-class real estate, San Francisco and Silicon Valley are at the top of the crop, with not just one but four of the top ten areas. Just last year, a Silicon Valley home sold for $117 million.
A recent update by OpenMortgage.com follows.
For the high-end purchaser, Forbes has released its annual list of the most expensive zip codes in the United States, compiled with the help of real estate data firm Altos Research by looking at listing price data for single-family homes and condominiums.
Altos calculated the median home prices of more than 22,000 zip codes in the United States to create the ranking, using listing data on a rolling average for a 90-day period to exclude glitches caused by unusual market activity in a given week. Home prices were weighted by the local property type mix, and listings do not include co-ops.
Forbes notes that the list is based on asking prices, rather than tax assessments or final sale price of closed deals.
Perhaps not surprisingly, California and New York dominate the top ten most expensive zip codes, with a New Jersey zip code close to New York City squeaking in at number eight. New York was number three.
Read on for the three most expensive zip codes in the nation:
1. 94027, Atherton, CA
Median Home Price: $$6,665,231,
Average Days On Market: 141
Inventory: 50 homes for sale
2. 2. 94022, Los Altos Hills, CA
Median Home Price: $5,404,692
Average Days On Market: 85
4. 94920, Belvedere, CA
Median Home Price: $4,807,885
Average Days On Market: 244
Inventory: 25 homes for sale
Atherton, Los Altos Hills, Belvedere, and Portola Valley were in the top ten. Another seven Bay Area ZIPs round out the top 50, including Hillsborough’s 94010 (No. 13), Woodside’s 94062 (No. 22) and Palo Alto’s 94301 (No. 38), Menlo Park, Tiburon, and so on.
Not to be outdone, the Sacramento metro region is doing some heavy lifting also. Check out the accompanying video about pricey areas like Granite Bay, where sales have skyrocketed.