Prices slide, even in the glitziest neighborhoods
Once, if a neighborhood made Forbes’ list of America’s 500 Most Expensive ZIP Codes, it meant buyers were prepared to spend big bucks to call it home.
But in 2009, even in these exclusive enclaves, home prices took major hits.
Though Alpine, N.J. (07620) tops our list with a median asking price of $4.14 million, prices there fell 23% over the past year. Atherton, Calif. (94027) is the nation’s second most expensive ZIP code with a median asking price of $3.85 million, but prices there also declined by 23%. And New York’s once-bohemian West Village neighborhood (10014) is by now fully gentrified, as demonstrated by its third-place finish and a $3.5 million median asking price. Still, over the past 12 months, prices in the West Village have fallen by 24%.
Read Francesca Levy’s full article “America’s Most Expensive ZIP Codes” in Forbes.
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