T
his year has brought a significant shift among the Bay Area's most expensive markets, according to PropertyShark's annual report on the country's priciest ZIP codes. San Francisco is no longer the most expensive city in the Bay Area, having been surpassed by Palo Alto, which now tops the list. Four of Palo Alto's ZIP codes are among the country's most expensive, with a median price of $3.6 million in 94301 near Stanford University.

    San Francisco had held the top spot for five years but has seen its median prices decline significantly since mid-2022. The city now has only two ZIP codes in the top 100: 94123 and 94118, both with medians just over $2 million. In contrast, Palo Alto's high-end market has remained strong, with three ZIP codes above $2.5 million.

    New York City takes the national title as the most expensive city, with six ZIP codes in the top 100. TriBeCa (10013) is Manhattan's priciest neighborhood, with a median price of $3.36 million. Atherton's 94027 remains the country's most expensive single ZIP code for the eighth consecutive year, but its median sales price has decreased by $400,000 to $7.9 million.

    The majority of ZIP codes in the survey saw price increases, with several locations setting new records. However, Atherton's downward trend was an exception, and Compass data suggests that the town's median price is slightly higher at $8.2 million for house sales only. The Hamptons village of Sagaponack (11962) narrowly missed surpassing Atherton as the most expensive ZIP code due to a market slowdown.

    California dominates the list once again, with 80 of the top 100 ZIP codes, and the Bay Area takes 39 spots, making it the country's most expensive metro market. Southern California is also well-represented, with Newport Beach, Santa Monica, Santa Barbara, and Rancho Santa Fe in San Diego taking up several spots in the top 10.