How has the pandemic impacted the luxury real estate market? According to Property Club, a New York City
-based real estate company, who examined home sales from March 13th through September 7th, New York is home to 19 of the nation's most expensive Zip Codes.
In New York, the most expensive Zip Code was Sagaponack's 11962, with a $3.79 million median sales price. The Empire State's top ten also included Bridgehampton's 11932 ($2.98 million median sales price), which earned the fourth spot, Amagansett's 11930 ($2.55 million median sales price), which came in at seven, followed by Quogue's 11959 ($2.34 million median sales price) in the eight spot and finally Water Mill's 11976 ($2.28 million median sales price) at ten.
"It's impressive to see five Hamptons Zip Codes in the top 50, equaling Manhattan," Andrew Weinberger, PropertyClub, Inc. CEO, noted.
All ten of the most expensive Zip Codes are in suburban settings and 80 percent of the US's priciest Zip Codes are in suburban settings. "The clear trend this year has been that luxury buyers are leaving cities and heading towards the ocean or mountains," Weinberger relayed. "I expect we'll see this continue into next year. In New York, in particular, the majority of residential activity has been in the last few months."
Overall, Sagaponack was deemed the third most expensive Zip Code in the US.
Nicole is the Editor-in-Chief of Hamptons.com where she focuses on lifestyle, nightlife, and mixology. She grew up in the Hamptons and currently resides in Water Mill. www.hamptons.com