- Rye’s 10580 is the #1 most expensive zip code in Upstate New York
- 10580 was also the location for the biggest sale of the year – $21.15M
- Westchester County – unsurprisingly – dominates with 42 zip codes out of our top 50
Although New York City is still the belle of the ball when it comes to high-priced neighborhoods and luxurious homes, Upstate New York* also boasts a dynamic residential market, with buyers priced out of New York City’s sky-high residential market looking outside of the five boroughs in increasing numbers. According to PropertyShark’s 2017 survey of NYC real estate professionals, close to half predict that potential buyers will be more interested in investing outside of the five boroughs, with Westchester County a strong contender, followed by Long Island and New Jersey. Location, as always, will be of paramount importance, with ease of access to New York and mass transit being crucial factors.
And while heading to ‘burbs for more space and better affordability is not a new trend, the sheer volume of sales happening outside of New York City suggests a thoroughly increased interest on behalf of buyers. Westchester County, which dominates our top 50 most expensive zip codes in Upstate New York ranking, has seen record numbers of sales in 2016. According to Douglas Elliman, Q4 2016 brought the highest sales volume since 1981 and the lowest inventory in at least 15 years, with all price indicators moving higher as well. Putnam County, which also grabbed a spot in our top 50 with Cold Spring’s 10515, also reached benchmark numbers, registering the highest sales volume in 20 years, with Dutchess County following suit.
Five zip codes in Upstate New York passed the $1 million median sale price threshold in 2016, with Rye’s 10580 taking the top spot. In Upstate New York’s no. 1 most expensive zip code the median sale price in 2016 hit $1,380,000, placing 10580 as the 95th most expensive zip code in the U.S. New York State’s youngest city is one of the most affluent areas in the country and home to the 10th richest neighborhood in the nation – Greenhaven. Rye is also home to the Boston Post Road Historic Landmark District, which includes the childhood home of John Jay – Founding Father and the first Chief of Justice of the United States.
Purchase’s 10577 snagged the title of Upstate New York’s 2nd most pricy zip with a median sale price of $1,300,000. The wealthy Westchester County hamlet is known for its high standard of living and educational institutions such as the State University of New York at Purchase and Manhattanville College. Purchase is also home to the headquarters of major companies such as PepsiCo., MasterCard and Atlas Air.
Larchmont’s 10583 was 2016’s 3rd most expensive zip code in Upstate New York with a median sale price of $1,127,500. Considered one of the most desirable places to live in the country, Larchmont is a mere 18 miles northeast of Midtown Manhattan. Larchmont has a starring role in the eponymous movie written and directed by native Ben Zuckert. The affluent community is also home to two-time Oscar-winning director Ang Lee.
Upstate New York’s largest residential transaction of 2016 was the $21,150,000 sale of 12 Parsonage Point Place in Rye’s 10580. The 8,436-square-foot, 5-bedroom single family home changed hands back in June and boasts panoramic views of Long Island Sound, 346 feet of water frontage and 2.8 acres of landscaped grounds in Milton Point, one of Rye’s most exclusive communities.
Check out the 50 most expensive zip codes in Upstate New York below:
|13||10576||Pound Ridge||Westchester County||$750,000|
|14||10505||Baldwin Place||Westchester County||$749,900|
|15||12844||Kattskill Bay||Washington County||$740,000|
|16||10804||New Rochelle||Westchester County||$735,000|
|17||10706||Hastings On Hudson||Westchester County||$723,750|
|18||10510||Briarcliff Manor||Westchester County||$715,000|
|19||10605||White Plains||Westchester County||$700,000|
|24||10522||Dobbs Ferry||Westchester County||$643,750|
|27||10549||Mount Kisco||Westchester County||$625,000|
|31||10604||West Harrison||Westchester County||$558,000|
|33||10606||White Plains||Westchester County||$554,380|
|37||10526||Goldens Bridge||Westchester County||$537,500|
|38||10573||Port Chester||Westchester County||$535,000|
|40||10507||Bedford Hills||Westchester County||$521,125|
|41||10516||Cold Spring||Putnam County||$518,500|
|43||10520||Croton On Hudson||Westchester County||$504,000|
|44||10801||New Rochelle||Westchester County||$495,000|
|46||10527||Granite Springs||Westchester County||$485,000|
|47||10590||South Salem||Westchester County||$475,000|
|48||10552||Mount Vernon||Westchester County||$472,500|
|50||10994||West Nyack||Rockland County||$450,000|
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Methodology: In order to determine which were the most expensive ZIP codes in Upstate New York, we looked at all residential transactions closed in 2016, taking into account condo, co-op, single- and the two-family homes. All package deals were excluded. *We defined Upstate New York as all areas of New York State, excluding New York City and Long Island.