Miami Beach’s exclusive Fisher Island has claimed the top spot as the most expensive ZIP code in the United States, unseating Atherton, California, which held the title for nearly a decade. This significant shift is driven by a dramatic surge in property values on the island.
Key Takeaways
- Fisher Island’s 33109 ZIP code now boasts a median sales price of $9.5 million.
- This represents a substantial 65% increase in median sales price compared to the previous year.
- Atherton, California, previously the most expensive, now has a median sales price of $8.33 million.
Fisher Island’s Rise to the Top
Fisher Island, a luxurious enclave accessible only by ferry or private transportation, has experienced a remarkable 65% year-over-year surge in pricing, propelling it to the number one position. According to Property Shark, the median sales price in the 33109 ZIP code has reached an impressive $9.5 million. This surge has effectively dethroned Atherton, California, which had maintained its reign as the most expensive ZIP code for almost ten years.
Market Dynamics and Transactions
While Atherton’s market remains strong, Fisher Island’s aggressive price increase has outpaced it. The cheapest home sold on Fisher Island this year was valued at $1.41 million. In contrast, the most expensive transaction saw a property sold for nearly $23.7 million to Miami lawyers William and Juliean Charouhis. Eliza Theiss, a senior writer at Property Shark, noted that Atherton’s slip from the top was not indicative of a weak market but rather the result of another market’s significantly more aggressive price appreciation.