ZIP Codes with Most Luxury Home Sales

Affluent Americans are expressing confidence in the value of owning real estate, again, according to a new report.

The Coldwell Banker Previews International Luxury Consumer Survey looked at Americans with a minimum gross annual household income of $250,000, and one-third of respondents are considering a residential property purchase in the next year. Furthermore, they are expecting their home purchase will increase in value by 14% in the next five years.

The report broke home sales and listings into three distinct price points: $1 million-plus, $5 million-plus and $10 million-plus and the top cities and ZIP codes for listings and sales differed drastically depending on the price point.

While Beverly Hills didn’t make the top 10 of ZIP codes with the most home sales of $1 million and more, it proved to be a more exclusive market. The 90210 ZIP code had the most sales when looking at the $5 million-plus price point and the $10 million-plus price point.

The 20 U.S. ZIP codes with the highest number of luxury home sales priced at $1 million and more were overwhelmingly in California or New York City, with one entry from Florida and one from Connecticut.

“Manhattan luxury real estate represents one of the most complex markets, yet has historically proven resilient when compared to many other high-end cities around the country,” Budge Huskey, president and chief executive officer of Coldwell Banker Real Estate LLC, said in the report.

This list represents the sales, which is much different than the listings. For instance, Aspen, Colorado, had the most listings of at least $1 million, but didn’t make the list of most sales.

The sales number is from Coldwell Banker’s data from June 2012 to June 2013, while the median sales price was from Trulia, and the median household income and cost of living index are both from City-Data.com.

Here are the 10 ZIP codes with the most $1 million-plus home sales in a one-year period.

10. Pacific Palisades, California

ZIP: 90272

Population (2011): 22,765

Number of sales: 300

Median sale price: $2 million

Median household income (2011): $158,381

Cost of living index: 130.9 (U.S. average is 100)

The 18th hole at the Riviera Country Club

The median home sale price in Palisades Pacific, a neighborhood in the Westside of Los Angeles, is the most expensive on this list.

9. New York, New York

ZIP: 10023 (Upper West Side, Lincoln Square)

Population (2011): 60,035

Number of sales: 318

Median sale price: $1.5 million

Median household income (2011): $105,260

Cost of living index: 158.3

Four- and five-story brownstones typical to the area

Almost two-thirds of residents are actually renters and the ZIP code only occupies half of a square mile. The vast majority of houses were built in 1939 or earlier.

8. Laguna Beach, California

ZIP: 92651

Population (2011): 23,679

Number of sales: 319

Median sale price: $1.7 million

Median household income (2011): $99,893

Cost of living index: 129.5

Abalone Point and Irvine Cove. Photo by D. Ramey Logan.

Like most of southern California, the temperatures in Laguna Beach don’t change much throughout the year, ranging from 67 degrees in January to 79 degrees in July.

7. Saratoga, California

ZIP: 95070

Population (2011): 30,215

Number of sales: 331

Median sale price: $1.6 million

Median household income (2011): $153,563

Cost of living index: 136.2

Hakone Gardens

Saratoga has a large Asian population with 30% of residents speaking Asian or a Pacific Island language at home compared to 57% who speak English at home.

6. New York, New York

ZIP: 10011 (Chelsea, Clinton, Greenwich Village)

Population (2011): 51,064

Number of sales: 333

Median sale price: $1.5 million

Median household income (2011): $99,700

Cost of living index: 158.5

The High Line, an elevated park built on a former New York Central Railroad spur.

The median sales price is down in the 10011 ZIP code. From the previous quarter, prices are down 18.4% and sale prices have only appreciated 1.7% over the last five years. Still, the median sales price for this ZIP code is 31.11% higher than the median sales price for the city.

5. Brentwood, California

ZIP: 90049

Population (2011): 36,451

Number of sales: 339

Median sale price: $1.8 million

Median household income (2011): $113,158

Cost of living index: 134.3

Wilshire Boulevard

Just like Pacific Palisades, Brentwood is a district in the Westside of Los Angeles, bordered by Santa Monica and Mulholland Drive. Many celebrities have called Brentwood home — Marilyn Monroe famously died in her Brentwood home.

4. Newport Beach, California

ZIP: 92660

Population (2011): 33,508

Number of sales: 340

Median sale price: $1.4 million

Median household income (2011): $113,054

Cost of living index: 128.3

Grand Canal Waterway at Newport Beach’s Balboa Island. Photo by D. Ramy Logan.

Newport Harbor is the largest recreational boat harbor on the West Coast and competitive sailing, rowing and paddling events occur almost every weekend. Newport Beach has eight yacht clubs.

3. New York, New York

ZIP: 10024 (Upper West Side, Morningside Heights)

Population (2011): 60,239

Number of sales: 342

Median sale price: $1.2 million

Median household income (2011): $111,582

Cost of living index: 158.7

Café in Morningside Heights

Another thing to remember about the New York ZIP codes is that they are all very densely populated. Plus, more people rent than own, which is the opposite of the norm in the rest of the country.

2. Manhattan Beach, California

ZIP: 90266

Population (2011): 34,986

Number of sales: 355

Median sale price: $1.6 million

Median household income (2011): $132,752

Cost of living index: 133

The most common occupation for residents in Manhattan Beach is in the legal industry. The median home sales price is down 8.1% over the previous quarter.

1. La Jolla, California

ZIP: 92037

Population (2011): 43,149

Number of sales: 368

Median sale price: $945,000

Median household income (2011): $96,519

Cost of living index: 136.3

Oddly enough, despite La Jolla having the most million dollar-plus sales, the median household income is the lowest out of the top 10. Plus, La Jolla, is the only neighborhood where the median sales price is actually below $1 million.