- Villanova’s 19085 is Pennsylvania’s #1 most expensive zip code
- Philadelphia and the Philadelphia Main Line are home to Pennsylvania’s top 10 most expensive zip codes
- Philadelphia boasts the highest number of expensive zip codes – 5 – of any Pennsylvanian city
- All of Pennsylvania’s top 50 most expensive zip codes feature median sale prices above the national average
With a looming 38,000-unit shortage in the apartment sector by 2030 and an ever-tightening stock of for sale homes, real estate conditions in Pennsylvania are increasingly favoring sellers. Following national trends, demand is high and growing in the Keystone State, while supply continues to dwindle, especially in the middle-income buyer segment, pricing out many Millennials eager to buy their first homes. As bidding wars and above asking price sales have become increasingly common, Greater Philadelphia is currently in the midst of a buying frenzy, with prices and sales rising in the Harrisburg metro area as well.
As home values continued to grow and approach pre-recession levels, average and median sale prices have followed suit. At a median sale price of $1,046,925, Villanova’s 19085 is the #1 most expensive zip code in Pennsylvania. Although not among 2016’s 100 most expensive zip codes in the country, 19085 remains one of the most exclusive enclaves nationwide. Located at the heart of the notoriously affluent Pennsylvania Main Line, Villanova is no stranger to luxury real estate – the Fresh Prince of Bel Air himself called this high-income suburb home a few year ago.
But 19085 has higher claims to fame than Will Smith – Villanova give its name to Villanova University, whose campus is also located in the state’s priciest zip. The private research university is known for its graduate school, as well as the Villanova University School of Law, an institution that trained notables like 9/11 workers’ advocate David Worby, former San Diego Padres CEO Jeff Moorad and a host of high-profile politicians.
Close to $200,000 behind 19085, Gladwyne’s 19035 is the 2nd most expensive zip code in Pennsylvania over the past 12 months. Homes here sell at a median price of $850,000, more than two and a half times the national median sale price – which clocked in at $310,800 in June 2017 according to the latest Census data.
Rolling along the banks of the Shuykill River, just 12 miles from downtown Philly, 19035 is also known as one of the Main Line’s high-income enclaves. Thanks to early preservation efforts, Gladwyne has retained much of its original real estate landscape. Possibly most notable of them all is Linden Hill, the 1930s estate and former home of Campbell’s Soup heir John T. Dorrance, Jr. The iconic French Norman style property is currently listed for $16.5 million, a full $8 million below its initial pricing back in 2013.
With the 67-acre Linden Hill still on the market, the largest residential transaction in Pennsylvania over the past 12 months was the $5,850,000 sale of 1447 Waverley Road in Gladwyne back in late March. Built in 2007, the 15,471-square-foot Colonial home features 8 bedrooms and 9 baths. Luxe amenities at the 2-acre estate include a pool, 4-car garage, game room, and library, as well as a fitness center and generous outdoor living space, including a covered terrace, patio and pool deck. 1447 Waverley Road is located in Montgomery County, which boasts the highest number of pricey zips – 15 – of all Pennsylvania counties.
With double the national median sale price, 19066 in Merion Station is the 3rd most expensive zip code in the Keystone State. Bordering Philadelphia, the median sale price for the past 12 months in Merion Station averaged out to $620,000. Musical fans will recognize Merion as the temporary home of the iconic von Trapps of The Sound of Music fame. Legendary art collector, Barnes Foundation founder and self-made millionaire Albert C. Barnes was also a noted resident of Merion Station.
Curious to see more of Pennsylvania’s priciest zip codes? Check out the 50 most expensive zip codes below:
|#||Zip code||Location||Median sale price June 2016 - July 2017||County|
|3||19066||Merion Station||$620,000||Montgomery County|
|6||18938||New Hope||$545,000||Bucks County|
|7||19010||Bryn Mawr||$510,000||Montgomery County|
|8||18977||Washington Crossing||$500,000||Bucks County|
|10||19034||Fort Washington||$472,000||Montgomery County|
|16||19425||Chester Springs||$454,742||Chester County|
|17||19317||Chadds Ford||$454,000||Delaware County|
|22||19342||Glen Mills||$426,000||Delaware County|
|24||19422||Blue Bell||$412,000||Montgomery County|
|26||19004||Bala Cynwyd||$397,500||Montgomery County|
|30||19073||Newtown Square||$387,000||Delaware County|
|38||19444||Lafayette Hill||$368,105||Montgomery County|
|39||19006||Huntingdon Valley||$365,000||Montgomery County|
|41||19382||West Chester||$360,000||Chester County|
|46||19380||West Chester||$345,000||Chester County|
|48||19352||Lincoln University||$343,250||Chester County|
|49||19462||Plymouth Meeting||$340,000||Montgomery County|
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Methodology: In order to determine which were the most expensive ZIP codes in Pennsylvania, we looked at all residential transactions closed between August 2016 and July 2017, taking into account condo, co-op, single- and the two-family homes. All package deals were excluded.