Upstate NY 50 Most Expensive Zip Codes for 2016: How Did Rye Do?

RYE, NY — As happens so often, people not from the Hudson Valley think that upstate New York starts at the Bronx border. That's true for Property Shark's ranking of Most Expensive Zip Codes in Upstate New York in 2016. The list is dominated by Westchester County, with six Rockland zip codes and one Putnam community in the Top 50.

Rye topped the list at No. 1.

Only one real upstate community made it on the list. Kattskill Bay in Washington County, zip code 12844, clocked in at No. 15 with a median sale price of $740,000.

Property Shark, a property research tool that provides reports and information to real estate professionals, investors and home buyers, looked at all residential real estate transactions closed in 2016. The data also takes into account condo, co-op, single and two-family homes. The company’s data has been recently featured by Time Magazine, Fortune Magazine and the Wall Street Journal.

"Westchester County – unsurprisingly – dominates with 42 zip codes out of our top 50," the researchers said.

Rye’s 10580 is the No. 1 most expensive zip code in "upstate" New York. In fact, that's the only one that made it onto Property Shark's list of 100 Most Expensive Zip Codes in the USA for 2016.

Five zip codes in "Upstate New York" passed the $1 million median sale price threshold in 2016, all in Westchester County: Rye, Purchase, Larchmont, Scarsdale and Harrison.

Overall, the Westchester real estate market is in good shape, according to PropertyShark’s 2017 survey of NYC real estate professionals. Almost half predicted that potential buyers would be more interested in investing outside of the five boroughs of New York City, specially in Westchester. Location continues to be extremely important, specially access to transit hubs.

In Rockland County, Piermont, Palisades, Monsey, Nyack, Pomona and West Nyack made it into the top 50.

Cold Spring was Putnam's contribution to the 50 Most Expensive Zip Codes.

Here is Property Shark's list for 2016 of Most Expensive Zip Codes north of NYC:

Wondering about the methodology? In order to determine which were the most expensive ZIP codes in Upstate New York, Property Shark looked at all residential transactions closed in 2016, taking into account condo, co-op, single- and the two-family homes. All package deals were excluded. They defined Upstate New York as all areas of New York State, excluding New York City and Long Island.

Why does Property Shark's list differ from Forbes? It's because the magazine based its rankings on asking price while Property Shark used sale prices, the researchers said.

PHOTO: This home in Rye's prestigious 10580 zip code is on the market for $14 million. Listing Sula Pearlman, Coldwell Banker Residential Brokerage - Rye. Image via realtor.com.