Median prices for luxury homes in the Santa Monica, Calif., ZIP code of 90401 have surged 60.7 percent over the last year, making it the hottest high-end ZIP code in the country, according to a new analysis by realtor.com®. The site’s researchers culled housing data from April 2016 through March 2017 for more than 600 ZIP codes where median list prices are above $1 million. They compared that 12-month period to the previous year to identify the ZIP codes with the largest median price increases. (Note: Researchers limited their list to two ZIP codes per state for geographic diversity.) The hottest luxury ZIP codes are:
1. Santa Monica, Calif.: 90401
Median list price: $3,045,000
Percentage increase in median home prices: 60.7
2. West Newton, Mass.: 02465
Median list price: $2,219,000
Percentage increase in median home prices: 60.4
3. Palo Alto, Calif.: 94301
Median list price: $5,599,000
Percentage increase in median home prices: 59.1
4. Kattskill Bay, N.Y.: 12844
Median list price: $2,365,000
Percentage increase in median home prices: 42.7
5. Seattle: 98101
Median list price: $1,475,000
Percentage increase in median home prices: 42.1
6. Bellevue, Wash.: 98005
Median list price: $1,480,000
Percentage increase in median home prices: 41.5
7. New York: 10002
Median list price: $1,806,000
Percentage increase in median home prices: 39