The annual Forbes magazine list of America’s Most Expensive ZIP Codes was released last week and for the second year in a row Sagaponack was listed as the number four most expensive ZIP code in the nation.
The annual ranking, compiled using data from California-based Altos Research, is based on information obtained from real estate listings from June 28, 2011 to September 28, 2012. The list is based on asking prices, not on tax assessments. According to information provided by Forbes, the data is also limited to ZIP codes where 15 or more residences were listed for sale.
Sagaponack, ZIP code 11962, had a median asking price listing of $4,180,000. According to the Forbes data, there were 84 homes on the market in Sagaponack during the data collection period and the average time a property was on the market was 333 days.
The top three ZIP code areas in the country were Manhattan (10065), with the median asking price being $6.5 million; Alpine, New Jersey (07620), with the median asking price being $5.7 million; and Atherton, California (94027), with the median asking price being nearly $4.9 million. It took an average of 80 days to sell a home in Manhattan, 35 days in Alpine and 41 in Atherton.
Water Mill, a perennial Forbes list maker, came in at number 16 this year. The median asking price in the 11976 ZIP code was $3.3 million. The average time span on the market was 385 days and there were 215 properties on the market during the time of the list compilation.
Wainscott, also a repeat shower, made number 45 on the list. The median asking price in the 11975 ZIP code was $2.4 million. Homes were on the market on average 448 days. There were 59 properties for sale during the time span of the study.
The lone west-of-the-canal spot in the top 100—number 54 on the list—was Quogue, ZIP code 11959, with the median asking sale price of $2.1 million. During the time of the study, 96 homes were listed in the village, which were on the market an average of 369 days.
Amagansett, number 57, had a median asking price of $2.1 million. In ZIP code 11930, there were 183 properties on the market, and sales averaged 431 days.
For more information, visit forbes.com/zipcodes.
Dawn Watson on Oct 22, 2012