11976, Water Mill, NY

Home Equity and Home Prices in the 11976 Zip Code of Water Mill, NY

The 11976 zip code of Water Mill, NY has a median home value of $1,890,000. This is higher than the statewide median home value of $1,669,000 and the national median home value of $217,500. The zip code also has a high concentration of homes with a value over $2 million. In fact, over 25% of homes in this zip code have a value over $2 million.

There are several factors that contribute to the high home values in this zip code. First and foremost is the location - Water Mill is located on Long Island's Gold Coast and is surrounded by affluent suburbs such as Southampton and Westhampton Beach. Second is the size and configuration of homes - many properties in this zip code are large (over 2,000 square feet) and well-maintained. Third is the market saturation - there are already a high number of wealthy homeowners in this area who are likely to continue to invest in property values. Finally, there is strong demand for luxury real estate due to Water Mill's proximity to some of New York City's most prestigious neighborhoods (such as Greenwich Village).

Despite these high values, not all homes in this zip code are selling at an above-market rate. There are plenty of properties available at or below market rates which makes it an attractive option for buyers looking for affordable housing close to some of New York City's most popular attractions.