In this year's List of America's Most Expensive ZIP Codes, published by Forbes on an annual basis, FIVE South Florida neighborhoods make the top 100!! This is huge, considering only Fisher Island has been a regular on the infamous list.
Last year Miami had 3 neighborhoods included and here are the 5 that made the cut in the 2016 list:
11. ZIP code 33139 – Miami Beach
Better known as South Beach – 33139 had a median price of $5.7 Million, an average days on the market of 300 and inventory of 109 units for sale.
24. ZIP code 33109 – Fisher Island
Fisher Island has always been known to be on this list, but dropped from in rank from #6 to 24, with a median price of $4.6 Million, average days on the market of 167 and inventory of 6 units for sale.
32. ZIP code 33156 – Pinecrest
ZIP code 33156, shown by Forbes as Coral Gables, is actually the area of Pinecrest and Matheson Hammock. Median price of $3.9 Million, average days on market of 251 and inventory of 54 units for sale. Pinecrest dropped in rank from 28 to 39.
49. ZIP code 33143 – South Miami
ZIP code 33143, shown by Forbes as Coral Gables, is actually the area of South Miami. Median Price of $3.5 Million, average days on market of 216 and inventory of 61 units for sale. Last year's rank for the area was 35.
88. ZIP code – 33154 – Bay Harbor Islands, Bal Harbor, Surfside and Indian Creek
ZIP code 33154 is not just Bay Harbor Islands, like Forbes claims, it includes Surfside, Bal Harbour and Indian Creek as well. Indian Creek alone would take the price, over Fisher or South Beach, if it had its own ZIP code. The median price coming in at $2.6 Million, average days on market of 76, and inventory of 19. Last year, this same ZIP code ranked 470 … now THAT's an improvement!
We thank Altos for the heads up on the article, they actually work with Forbes on the calculations and also provide our REAL-TIME MARKET REPORTS which are available to our clients HERE.
Altos calculated the median home prices for more than 28,500 U.S. ZIP codes (covering 95% of the U.S. population) using asking prices for single-family homes and condominiums listed for sale. To account for any blips that might occur when an unusually high-priced property comes on the market, Altos used a rolling average for the 90-day period ending November 18. The goal is to provide a snapshot of current activity.
For the Forbes full list of ZIP codes, click HERE.