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PropertyShark: LA County most expensive region in nation in 2023
LA County Nov 03, 2023
Santa Monica. | Photo by Grigory Azaryan on Unsplash
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Los Angeles County remained the nation’s priciest region this year, with Beverly Hills and Santa Monica claiming two spots among the top 10 most expensive ZIP codes in the United States, according to a report released Friday.
The report by real estate research tool PropertyShark also found that Los Angeles was the second-priciest metropolitan area, with 29 ZIP codes in the top 100 most expensive areas in the nation.
The study calculated median sale prices based on closed home sales, not asking prices.
Other findings include Bel Air’s 90077 ZIP code came in at $2.3 million after a 30% year-over-year price drop slashed $1 million from its 2022 median.
PropertyShark also determined that seven of the 10 most exclusive ZIP codes in the U.S. originated in California.
In Beverly Hills’ 90210 zip code, the median home sale price in 2023 was $4.8 million. Newport Beach’s 92661 ZIP code saw median home sale prices of $4.49 million this year, Santa Monica’s 90402 ZIP code had median sale prices of $4.48 million in 2023, and Rancho Santa Fe’s 92067 ZIP code had median sale prices in 2023 of $4.24 million, the study shows.
The nation’s most expensive ZIP code remained Atherton’s 94027. The Silicon Valley locale had an $8.3 million median sale price after a 5% year- over-year increase, according to PropertyShark.
The research found that the Beverly Hills’ ZIP code, which boasted a median sale price of $4.8 million, represents a slight 6% decline when compared to prices from the previous year. However, in spite of the modest decrease in the median sale price, the ZIP code has maintained its position in fifth place.
Newport Beach’s median sale price was just slightly above Santa Monica’s, which saw a mere 2% increase from the previous year to reach a median sale price of $4.48 million, the report stated.
San Diego County’s Rancho Santa Fe maintained its position in the number 10 spot with a median sale price of $4.24 million, down just 1% over last year. The community — known for its gated estates and expansive, landscaped homes — first entered the top 10 last year, when its median grew 26% to reach $4.27 million, PropertyShark reported.
