Top Zip Code for Top-Dollar Home Sales Includes City of L.A?
Beverly Hills real estate is often overshadowed by pricier digs in Holmby Hills, home to the Playboy Mansion; Bel-Air, which boasts of many 10,000-square-foot-plus abodes; and Pacific Palisades, where Arnold Schwarzenegger and many other celebs live.
But the gilded city is back in its rightful place as king of all that is riche. Well, sort of:
According to Coldwell Banker's 2013 Luxury Market Report, the 90210 ZIP code was tops in the nation for $10 million-plus home sales in the last year.
It beat out Aspen, Montecito, Bel-Air, Miami and Brentwood. Sounds like bragging rights are in order for the B.H.
But ... 90210 also includes the City of Los Angeles, and some of the priciest real estate in the ZIP code -- including Beverly Park -- is actually in L.A.
The 90210 area code also topped the list of communities with the most $5 million-plus sales and made the top 10 of those with the most $1 million-plus sales, according to Coldwell Banker.
The real estate concern confirms your suspicions: As the rest of America continues to flex every muscle in order to get out of the economic doldrums created by the Great Recession, the rich appear to be getting richer:
... Unprecedented growth of the ultra-luxury housing market continues to generate intrigue. In 2012, over 200 transactions were recorded in the top 15 U.S. cities for luxury home sales priced $10 million and above.
We're just waiting for trickle-down economics to shower us with some of their leftovers.