NYC Luxury Real Estate Loses Luster, Drops Off Most Expensive ZIP Code List as Buyers Flee High Costs and Crime
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Several of New York City's most expensive ZIP codes have dropped significantly in home values and fallen off the list of the country's 100 priciest ZIPs.
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Three Manhattan neighborhoods remain in the top 100 for 2024, but have declined steeply in ranking and home values compared to 2019.
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Experts cite the COVID-19 exodus, high taxes, and rising crime as factors in the drop in desirability and prices of luxury NYC real estate.
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In contrast, 8 Long Island ZIP codes have made the 2024 list of 100 most expensive, led by Sagaponack.
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Atherton, California remains the #1 most expensive ZIP code in the U.S. for the 6th straight year, with a typical home value of over $7.4 million.