Even as another uniquely challenging year—marked by the efforts of tackling the pandemic and boosting the economy—is coming to an end, the U.S. residential market continues to experience vertical price trends.
PropertyShark has released its annual ranking of the 100 priciest zip codes in the U.S. by closed home sales between January 1, 2021 and October 22, 2021, where the Paradise Valley zip code of 85253 has notched up to the upper half of the list for the very first time.
This Paradise Valley zip claimed #50 on the list after a 41% year-over-year price jump raised its median to $2,175,000. A favorite of some of the highest-profile rock stars in the world, the Maricopa County zip finally broke into the country’s most expensive zip codes in 2019, although it had already been the leader of pricey Arizona real estate for years.
Arizona’s second and third most expensive zip codes are represented by 85262 and 85266 in Scottsdale at $1.2M and $970K, respectively. Phoenix’s 85018 is the only zip code in The Valley that made it into the top 10 at a median sale price of $853K.
For the first time ever, the country’s top 10 most expensive zip codes all surpass $4M. Unsurprisingly, California continued to provide the bulk of the country’s most expensive zip codes: The Golden State originated 70% of all of the zip codes on this list, including six of the top 10 priciest. And, as usual, New York came in second, providing 17 zip codes in the ranking.
Read the full report here.