Most Expensive ZIP Codes of 2012

There's a new neighborhood atop the list of most expensive ZIP codes. This year limited inventory drove prices in these pricey ZIP codes and led to some blockbuster listings, particularly in Manhattan and Silicon Valley.

For the first time a Manhattan ZIP code topped Forbes’ list of America’s Most Expensive ZIP Codes, knocking reigning champion Alpine, N.J. off the top spot.

The Upper East Side’s 10065 came out of nowhere considering on last year’s list the ZIP code didn’t even make the top 10 — or the top 50 or even the top 100. The most expensive ZIP code for 2012 only ranked at 120 in 2011 with a median home price of $1.345 million.

This year, the median home price for the 10065 ZIP code is $6.534 million, a change of 384.9%. Three other Manhattan ZIP codes saw huge changes in median home prices: 10075 (154.8%), 10021 (149.3%) and 10014 (129.3%).

With the exception of celebrity-rife Alpine, the top 10 is composed entirely of New York and California ZIP codes. However, one popular California ZIP code, Beverly Hills, fell out of the top 10 this year.

According to Forbes, a lack of inventory across the country drove listing prices in America’s most expensive ZIP codes.

The list is based on asking prices, so it shows what buyers entering the market would experience if they were looking for houses in one of these neighborhoods.

1. 10065, New York, N.Y.

East 69th St.

Median home price: $6,534,430

Median price change: 384.9%

Average days on market: 449

Inventory: 80

2. 07620, Alpine, N.J.

Median home price: $5,745,083

Median price change: 26.3%

Average days on market: 207

Inventory: 35

3. 94027, Atherton, Calif.

Median home price: $4,897,864

Median price change: 14%

Average days on market: 103

Inventory: 41

4. 11962, Sagaponack, N.Y.

Median home price: $4,180,385

Median price change: 16.3%

Average days on market: 333

Inventory: 84

5. 94010, Hillsborough, Calif.

Median home price: $4,127,250

Median price change: 18%

Average days on market: 172

Inventory: 124

6. 10014, New York, N.Y.

Median home price: $4,116,506

Median price change: 129.3%

Average days on market: 328

Inventory: 84

7. 94022, Los Altos Hills, Calif.

Median home price: $4,016,050

Median price change: 43.6%

Average days on market: 154

Inventory: 88

8. 10021, New York, N.Y.

Christopher Park in the West Village

Median home price: $3,980,829

Median price change: 149.3%

Average days on market: 394

Inventory: 162

9. 90274, Rolling Hills, Calif.

Median home price: $3,972,500

Median price change: 76.6%

Average days on market: 124

Inventory: 61

10. 10075, New York, N.Y.

Median home price: $3,885,409

Median price change: 154.8%

Average days on market: 470

Inventory: 47

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America’s Most Expensive ZIP Codes - Forbes