California’s Newport Beach dominates luxury real estate market

Seven of the country’s 10 most expensive ZIP codes are in California, and if you live here, that’s probably no shock. From Silicon Valley’s billionaire enclaves to the sun-soaked shores of Newport Beach, California’s luxury real estate market continues to set the pace for the nation, according to data run by real estate site Property Shark.

But California’s reign was interrupted this year: the priciest ZIP code in the U.S. isn’t in the Golden State—it’s on Fisher Island, Florida, just off Miami Beach. No cars are allowed: Only ferries and yachts are permitted, and the median home sale price is $9.5 million. That’s a 65% jump from last year, showing how quickly the ultra-luxury market can shift.

The study served up this California real estate trivia nugget: Newport Beach, population 83,000, isn’t just wealthy—it’s a ZIP code hoarder. Three of its neighborhoods muscled into the national top 10, each flaunting median home prices north of $5 million…

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