Two Connecticut zip codes are among the 100 most expensive places to purchase property in the nation.
The median sale price, based on closed sales, of homes in Riverside, Connecticut (06878) was $2.23 million in 2023 according to a survey conducted by PropertyShark, an online property research tool. 06830 in Greenwich also joined the list of the top 100 most expensive zip codes in the nation, with a median sale price of $1.89 million.
Connecticut was one of three New England states with zip codes among the top 100 most expensive in the nation. Massachusetts has four zip codes in the most expensive, with Boston topping the list with a median sale price of $2.8 million, and New Hampshire has one. New Castle, New Hampshire’s median sale price was $2.55 million.
Greenwich’s median price was the lowest of New England zip codes that made the list. Overall, the town placed ninety-seventh on the list.
Riverside had the most substantial increase in median sale prices across New England and the fourth largest across the entire nation. Between 2022 and 2023, the median sale price for a home in the town rose by 24 percent year-over-year. As a result, it rose from the ninety-ninth spot on the list to the sixtieth.
While Riverside’s median price increased over the previous year, Massachusetts saw declines in median sale prices in a number of its most expensive cities. The 02199 zip code, located in Boston’s Back Bay, has fallen significantly in recent years. In 2023, the median home price was $2.8 million and the city placed as the thirty-first most expensive in the nation. In 2021, it was the second most expensive zip code in the nation, with median sale prices at $5.5 million. Those prices fell year-over-year by 41 percent between 2021 and 2022, landing it at the twenty-seventh most expensive zip code in the nation. Between 2022 and 2023, median prices fell again by 14 percent year-over-year.
Bordering Connecticut to the west, New York not only had a significantly higher number of zip codes among the top 100 most expensive in the nation but with significantly higher median sale prices.
The state gained five zip codes among the top 100 most expensive over the previous year, totaling 22. Eight of those zip codes are in New York City.
Overall, PropertyShark reports that there was a general decline in median sale prices in 2023. 70 of the 122 zip codes ranked as the 100 most expensive (including 18 zip codes with ties) experienced price drops from the previous year. That number has increased from 15 cities that experienced price drops between 2021 and 2022.