The tiny town of Atherton, California, now boasts America's most expensive zip code, according to a new report from CBS News, with pricier median home prices than even traditional pockets of wealth like Manhattan's Upper East Side, Beverly Hills and Palm Beach.
Atherton has become a haven for wealthy tech moguls because of its proximity to Silicon Valley. Google chairman Eric Schmidt, Hewlett Packard Chief Executive Officer Meg Whitman and Facebook Chief Operating Officer Sheryl Sandberg all have properties there. The cheapest Atherton home is currently listed as $1.6 million for just 1,700 square feet, CBS reports. That breaks down to a whopping $1,000 per square foot. According to the Daily Mail, at least seven properties have sold for more than $10 million this year alone.
Prices all over the Bay Area and immediate communities are skyrocketing, like in San Francisco itself, where the median home price was $815,000 in the first quarter of the year. While that might be good news for owners looking to sell, it's pricing out many potential buyers.
If you would like to own property in Northern California, check out the exciting housing markets in Sacramento, Placer and El Dorado Counties. Although prices in our area are also climbing, many homes are still affordable to first-time buyers. These communities offer great urban amenities but don't break the bank, and they are still within an easy drive of Silicon Valley. Depending on your professional situation, you could even commute to San Jose or San Francisco.
If you're interested in seeing Sacramento homes for sale, or properties in El Dorado or Placer County, turn to top real estate agent Jon Hesse. He can help you find your own Northern California dream home!