Sagaponack Is No. 2 Among Forbes’ Most Expensive ZIP Codes in 2015

Sagaponack is America's second most expensive ZIP code
Sagaponack is America's second most expensive ZIP code, Photo: Cully/EEFAS

Surprising to few, Hamptons villages and hamlets once again rank high among Forbes‘ list of America’s 500 Most Expensive ZIP Codes for 2015. The top contender, Sagaponack, landed in the number two slot for the second consecutive year, but that village isn’t the only South Fork locale to break the top 20.

With a median home price of $7,416,538 and homes selling in 111 days on average, Sagaponack’s 11962 ZIP code beat Manhattan’s 10012 ZIP code—which went from 10th in 2014 to third this year—by a little over $100,000. In 2014, Sagaponack earned second place with a lower median price of $6,433,077, and that year houses were on the market an average of 327 days. The inventory of available homes dropped from 48 in 2014 to just 37 in 2015. For further perspective on the village’s growth, Sagaponack was only America’s fifth most expensive ZIP code in 2013 with a median home price of $4.8 million.

Atherton, California (94027) held its place in the top spot for the third consecutive year with a whopping median home price of$10,564,038.

Water Mill’s 11976 is the next Hamptons ZIP code on the list at number 18. The hamlet has a median home price of $4,221,615 and homes are selling in 148 days on average. And Forbes reports an inventory of 93 available properties. Interestingly, Water Mill was two spots higher, at number 16, in 2014 with a lower median home price of $4,004,808. Homes took more than double the time to sell, 318 days on average, in 2014 and a robust 205 homes were available that year. In 2013, 11976 was 19th, down three from 2012, when it was 16th and had a median home price of $3,317,227.

The hamlet of Water Mill
The hamlet of Water Mill, Photo: Cully/EEFAS

The hamlet of Wainscott (11975) landed at 21 on the list with a median home price of $4,148,077. Homes averaged 141 days on the market and 24 homes were available for sale. Wainscott didn’t even break the top 40 last year (at 43) with its median home price of $2,951,346.

Traditionally a heavy hitter on the Forbes list, Bridgehampton (11932) plummeted from number 13 and a median home price of $4,286,538 in 2014, to 26 and a median home price of $3,992,269 in 2015. Homes sold quickly, in just 102 days on average, and 85 were available for sale.

Outside the top 50, the hamlet of Amagansett (11930) popped up at number 63 with a median home price of $2,693,654, homes averaging 106 days on the market and an available inventory of 95. It placed 60th in 2014 with a median price of $2,645,192, an average 362 days to sell and 184 available homes.

Quogue’s 11959 ZIP code, which was 46th in 2013 and then dropped to 93 in 2014 (median price $2,080,690), is back on the rise at 70 with a median home price of $2,546,183. Homes were on the market for 246 days on average and 97 properties were available for sale.

No other East End ZIP codes cracked the top 100, though Southampton’s 11968 came in at 112 with a median price of $2,064,030, an average of 134 days on the market and an inventory of 444 available properties. Sag Harbor’s 11963 was 136 (median $1,882,471) and Westhampton Beach’s 11978 was 172 (median $1,640,961), while East Hampton’s 11937, which includes Springs, was 206 with an outside-the-top-200 median price of $1,533,773, an average 124 days on the market and a large inventory of 470 available properties.

Read Forbes‘ complete 2015 list of America’s Most Expensive ZIP Codes here.

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