Westhampton, Westhampton Beach Make Forbes' List For America's Most Expensive Zip Codes

Forbes revealed their list of America’s Most Expensive Zip Codes for 2014, and both Westhampton and Westhampton Beach made the list.

Out of 500 zip codes, Westhampton Beach (11978) ranked 154 with a median price of $1,571,946.55 and an average of 298 days on the market. Westhampton (11977) ranked 460 with a median price of $935,151.231 and an average of 98 days on the market.

According to Forbes, their annual list of America’s Most Expensive Zip Codes is based on data from Altos Research, a Mountain View, California-based real estate analysis firm.

For this ranking, Altos calculated the median home prices for more than 28,500 U.S. ZIP codes (covering 95% of the U.S. population) using asking prices for single-family homes and condominiums listed for sale.

To account for any blips that might occur when an unusually high-priced property comes on the market, Altos used a rolling average for the 90-day period ending September 19.

For each ZIP code, Altos weighted prices according to the mix of property types in that market. As a result, ski towns with a high preponderance of condominiums see their median price pushed down, even if single-family homes in these areas are priced very high.

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