Most Expensive Homes: Anne Arundel Has 1 Of Priciest Communities In America
Patch Regional Manager Deb Belt wrote this story.
MARYLAND — Rising interest rates have cooled the U.S. housing market overall and Maryland is no exception, but one of the priciest neighborhoods in the country can still be found right here.
There is no question that real estate in parts of Maryland demands a steep price, but a just-released study found one Maryland ZIP code is among the most expensive in the entire country.
PropertyShark's annual ranking of the 100 priciest ZIP codes in the U.S. listed one Chesapeake Bay community among the very highest priced.
The 21056 zip code on Anne Arundel County’s Gibson Island was ranked at No. 45 in the nation this year. It has a median sale price of $2,525,000, PropertyShark said.
"It’s worth noting that Gibson Island didn’t make it into our rankings last year," the site said. "Additionally, the Chesapeake Bay community also didn’t match its all-time high sale price of $3.19 million, which it logged in 2021, when it saw a remarkable 97% (year-over-year) surge in its median sale price to secure the No. 23 position nationally at the time."
The island has been home to VIPs such as the late U.S. Supreme Court Justice Thurgood Marshal, “Wheel of Fortune” host Pat Sajack and Godfrey A. Rockefeller, Patch said previously.
In order to determine the most expensive ZIP codes, PropertyShark said that it considered all home transactions that were closed between set dates in January and October of last year. The full "100 Most Expensive U.S. Zip Codes in 2023" report can be found here.
Property Shark says they "calculated median sale prices based on closed home sales, not asking prices, as we consider this methodology to provide the most accurate picture of actual market dynamics. Whereas asking prices reflect sellers wishes, calculating medians based on sale prices reflects the transactional reality on the ground."
California claimed 79 of the most expensive ZIP codes in the country — the most of any state. New York had the second most with 22 ZIP codes making the list.
See Property Shark's full list of rankings and details about the methodology here.
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