California has two-thirds of the priciest ZIP Codes for residence patrons throughout pandemic

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A research from actual property market PropertyClub has confirmed what many Angelenos already know: Shopping for a house in California — throughout a pandemic or not — is costly.

The study, which analyzed all residential gross sales throughout the pandemic between March 13 and Sept. 7, discovered that California holds 87 of the 130 priciest ZIP Codes within the nation, or about 67%.

Aside from a dip when stay-at-home orders had been first introduced within the spring, Southern California’s hot housing market has barely skipped a beat due to COVID-19. September noticed the median worth hit an all-time excessive for the fourth straight month, rising 15.3% yr over yr.

As in years past, the ultra-affluent city of Atherton took the highest spot, with a median sale worth of $6.69 million. The ritzy Silicon Valley suburb is a brief drive from Palo Alto and San Francisco and serves as a swanky playground for tech execs.

Beverly Hills’ 90210 ZIP Code ranked second, with the median residence buying and selling arms for $4.084 million. The previous couple of months alone have seen some gargantuan gross sales within the space, as Quibi founder Jeffrey Katzenberg bought his six-acre property for a whopping $125 million — the third-priciest home sale in California historical past. Different huge ones embody David Geffen buying a modern mansion for $68 million and LeBron James dropping $36.75 million on the longtime residence of cleaning soap opera creator Lee Phillip Bell.

Santa Monica’s 90402 ranked fifth with a median worth of $3.625 million, and three different Bay Space ZIP Codes landed within the high 10: Ross’ 94957 at $3.605 million, Los Altos’ 94022 at $3.575 million and Portola Valley’s 94028 at $3.494 million.

A lot of Los Angeles County’s luxurious pockets discovered themselves excessive on the record as nicely, together with Pacific Palisades’ 90272 ZIP Code at No. 21 with a median worth of $2.85 million and Malibu’s 90265 at No. 25 at $2.72 million. Final month, director James Cameron put his Malibu compound in the marketplace for $25 million.

Others within the high 50 embody Beverly Hills’ 90212, Manhattan Seaside’s 90266, Bel-Air’s 90077 and Brentwood’s 90049.

Throughout the pandemic, patrons have begun to favor suburban settings over cities, in accordance with the research. Greater than 80% of the priciest ZIP Codes from March to September had been in suburban areas — together with all the high 10. The impact is most notable in New York, the place Lengthy Island has extra entries on the record (9) than Manhattan (eight).

By way of California cities, San Francisco has probably the most ZIP Codes on the report with 9. L.A. has seven.

Simply 15 states accounted for all 50 ZIP Codes on the record. Along with California and New York, they had been New Jersey, Massachusetts, Connecticut, Maryland, Florida, South Carolina, Georgia, Washington, Nevada, Arizona, Colorado, Utah and Wyoming.

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