Most Expensive ZIP Codes During Pandemic Includes NJ

NEW JERSEY — The most expensive American ZIP codes during the coronavirus pandemic includes a trio of New Jersey locales.

Property Club, a New York City-based real estate company, looked at all residential sales nationwide between March 13 and Sept. 7 to determine the 125 priciest ZIP codes of the pandemic thus far.

Three of the most expensive zip codes in America are in the Garden State. While the 07620 zip code in Alpine, is consistently listed amongst the nations most expensive, ranking as the 45th priciest in the nation, two other New Jersey zip codes have also broken into the top-125. 08750 in Sea Girt came in at 120th, with a median sales price of $1,537,500, and 07078 in Short Hills was tied for the 125th most expensive zip code with a median sales price of $1,500,000.

The top two in the nation are both in California, with Atherton (94027) coming in at No. 1 with a median home sale price of nearly $6.7 million, and Beverly Hills (90210) at No. 2 with a $4.08 million median home sale price.

“The biggest surprise was that no urban city ZIP codes were in the top 10,” Andrew Weinberger, CEO of Property Club, told Patch. “It’s particularly astounding because when looking at historical numbers, you’ll see multiple New York City ZIP codes near the top.”

Atherton has been the highest-priced ZIP code “consistently” when looking at previous similar ZIP codes, Weinberger said. But he says the pandemic has had a noticeable impact on others that made the list.

“For example, here we see more Long Island ZIP codes on the list than New York City,” he said. “Normally, you’d expect places like Manhattan and San Francisco to have more.”

“We’re also seeing more ZIP codes near the sea and the mountains. It’s the first time we’ve seen a Lake Tahoe ZIP code in any top 10.”

More than two-thirds of the priciest ZIP codes identified are in California; all on the list are spread across only 15 states; and 18 continue to hold a median sale price of over $3 million, according to other “key findings” identified by the researchers.

ZIP codes with fewer than five closed sales between the study time frame were not considered, the methodology states.

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