Manhattan Maybe Not That Expensive

Apr 15, 2007

According to Business Week magazine, the 10 U.S. Zip codes with the greatest appreciation in median property surprisingly does not include the Upper East Side, Park Avenue, Central Park West, or Greenwich Village. Indeed, only one zip code from New York State makes the list: Glen Head. Prices listed are from the second quarter of 2006 and the percentage compares the median increase for the previous five years from the second quarter of 2001 to the second quarter of 2006.

1. Greenwich, Conn. (06831): $2,983,000, 49.3 percent

2. Newport Beach, Calif. (92661): $2,500,000, 132.2 percent

3. Paradise Valley, Ariz. (85253): $1,850,000, 100.4 percent

4. Avalon, N.J. (08202): $1,687,500, 125.7 percent

5. Cambridge, Mass. (02138): $1,395,500, 22.4 percent

6. Glen Head, N.Y. (11545): $1,150,000, 67.2 percent

7. Islamorada, Fla. (33036): $1,150,000, 204.3 percent

8. Chevy Chase, Md. (20815): $1,043,000, 94.8 percent

9. Hinsdale, Ill. (60521): $950,000, 48.4 percent

10. Bellevue, Wash. (98004): $950,000, 83.9 percent

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