It may be home to just 7,000 residents, but this sleepy town has seen median home prices soar to a whopping $10 million. 

Atherton, the ultra-exclusive Silicon Valley enclave where tech billionaires retreat behind sprawling estates, has reclaimed its title as America's priciest zip code. 

The median home sale in Atherton hit around $9.9 million this year, according to Bloomberg and PropertyShark data – putting the tiny California town back ahead of Miami's exclusive Fisher Island, where tech titan Jeff Bezos has built two homes.

Atherton's nearly 20 percent surge from last year comes as Silicon Valley enjoys a resurgence, with the artificial intelligence boom creating enormous new fortunes and fueling demand for the Bay Area's most coveted real estate.

The town has long attracted tech titans seeking privacy and a low-profile lifestyle. 

With estate-sized lots, secluded properties and proximity to both Silicon Valley and San Francisco, it's a favorite among tech founders, venture capitalists and business executives.

Now, a fresh wave of wealthy buyers is pushing prices even higher. Five Atherton homes have sold for more than $30 million this year, according to PropertyShark data.

Atherton's return to the top comes after Fisher Island briefly knocked it from the number one spot last year.

The Miami enclave recorded a median sale price of around $9.5 million this year, while Atherton's median was roughly $8.3 million last year.

California's broader real estate boom has helped fuel the climb, with the state's median home sale price rising by around 20 percent from a year earlier.

The extraordinary figures underscore the growing divide in America's housing market.

While millions of Americans are struggling with high mortgage rates, rising home prices and the prospect of never being able to afford a home, buyers in Atherton are routinely spending eight figures for a place to live.

The town's leafy streets are lined with enormous estates and secluded compounds, with virtually no shopping districts or commercial centers. 

Its almost entirely residential character means quiet, tree-lined roads lead to sprawling homes tucked behind electronic gates and long driveways.

For tech and business moguls, much of Atherton's appeal is its location. The town sits just a short drive from the headquarters and offices of the technology giants that have helped create some of America's newest fortunes.

Its oversized lots have also given rise to some of the country's most spectacular homes. 

Last year, a newly built estate hit the market for nearly $50 million, complete with a wellness complex, glass-walled pool and multi-sport court.

Around the same time, Villa Anahid debuted at $57.5 million – Atherton's priciest listing at the time – with a 56-foot pool, Himalayan salt-wall sauna and separate guest residence.

Scarcity is only adding to the frenzy. With little room for new development and only about a dozen homes currently for sale, competition remains fierce.

Bloomberg reported that Atherton has already recorded five home sales above $30 million this year, nearly matching the total for all of last year.