In a year of explosive growth in home prices, three San Diego County zip codes made a list of the most expensive in the country.
Real estate tracker PropertyShark released its annual list of the 100 most expensive areas in the nation, and Rancho Santa Fe (92067) comes in at 18th with a median sale price of $ 3.4 million. It’s the first time a San Diego County ZIP code has made it into the top 20.
The nation’s most expensive ZIP code was Atherton, San Mateo County, for the fifth year, with a median sales price of $ 7.47 million. The Bay Area community is a Silicon Valley center of wealth. California made up 70 percent of the most expensive ZIP codes on the list.
The other San Diego County ZIP codes listed are Coronado (92118) at number 63 with a median sales price of 1.94 million and Del Mar (92014) at number 74 with a median of 1.85 million.
PropertyShark has been making the list for several years and 2021 represents a ranking increase for Rancho Santa Fe and Coronado. The exception is La Jolla, which has been on the list for several years, but was pulled in 2021. Del Mar dropped a few spots.
Rancho Santa Fe was number 23 in 2020 with a median of $ 2.7 million, Coronado was number 64 with a median of $ 1.72 million, Del Mar was number 69 with a median of $ 1.69 million and La Jolla was the number 94 with a median of $ 1.5 million.
San Diego appeared to be riding a wave of rapid price appreciation in California that saw it outperform many established markets on the East Coast. This year was the first time that any New York City ZIP code was in the top 20.
Throughout the pandemic, wealthy property buyers have viewed California as more space available and lower COVID-19 numbers (per capita) than much of the country.
“I really think COVID changed everything,” said Linda Sansone, a luxury real estate agent in Rancho Santa Fe. “Everyone stopped and thought: I need more space.”
She said land is very limited in high-end markets and Rancho Santa Fe stands out for affluent buyers. While nearly half of all buyers in Rancho Santa Fe are from San Diego County, she said she has had a large number of buyers from different locations on the East Coast, Northern California, Los Angeles and Chicago.
“You can go out to dinner here most of the year,” Sansone said. “In the east you can’t.”
An exception to the density factor is Boston’s 02199 zip code, which was number 2 on the list with a median of $ 5.5 million. Boston’s Back Bay area, which encompasses the area around the massive Prudential Center shopping mall, has a little connection to San Diego – it’s home to many biotech companies competing for workers in the growing life sciences industry. from San Diego.
Outside of California, New York, Massachusetts, Connecticut and New Jersey contributed the most zip codes to the list. Several states only had one or two ZIP codes on the list: Washington, Nevada, Arizona, Maryland, and Florida.
The largest year-over-year increase was Maryland’s Gibson Island, which increased 97 percent to a median of $ 3.19 million. The zip code is a private island and a gated community. New York City’s Upper West Side had the biggest drop on the list, with the median sales price of $ 1 million, or 39 percent.
The San Diego County ranking is noteworthy, but the expansion of wealth in other parts of the state is evident in the sales data. The San Francisco Bay Area contributed 47 ZIP codes to the list. Looking at inter-county data alone, Los Angeles County ranked the most zip codes, with 21. Beverly Hills (90210) ranked highest at No. 6 with a sales price of $ 4.12 million. .
Rancho Santa Fe’s ranking – at number 18 – from PropertyShark 2021 marks the highest point for a San Diego County ZIP code in the history of the list. It was number 26 in 2016, number 32 in 2017, number 29 in 2018, number 29 in 2019, and number 23 in 2020.
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