December 9, 2016
Forbes just ranked South Florida’s Manalapan as the Number 1 most expensive zip code. The post dated December 8 unveils Forbes’ 2016 list of America’s Most Expensive Zip Codes. Manalapan grabs the number one spot with a median listing price of $7.86 million for homes on the market over 90 days.
Located between Palm Beach and Delray Beach, Manalapan is home to multimillion dollar ocean-to-Intracoastal homes including a $195 million listing knows as Gemini (listed in January). Manalapan made the list this year for the first time due to a decision to analyze zip codes that share two or more towns/places with different inventory mixes. Manalapan is very different from the rest of the 33462 zip code (mainland Lake Worth and Lantana). This also explains how some zip codes will appear on the list multiple times.
New York claims six of the top ten spots and a dozen of the top 25. Atherton, California fell to the third spot after being ranked as number one for the last three years. Please click link to view full list and article.
Each year, Forbes works with Altos Research to calculate the median home prices for more than 28,500 U.S. zip codes using asking prices for single-family homes and condos. Zip codes with fewer than ten homes on the market are not considered.
Ranked as the #1 Luxury Team in the Beach Area, oceanfront specialists Nicholas Malinosky and Randy Ely are quite familiar with Manalapan luxury real estate. They have marketed and sold many of the ocean-to-Intracoastal mansions and vacant parcels (representing some multiple times over the last few decades).
If you are interested in selling or buying an oceanfront home, please contact Nicholas Malinosky and Randy Ely of the Douglas Elliman Real Estate.