Monday, August 17, 2015

Have you seen Realtor.com’s 2015 “List of Hottest ZIP Codes” ?



Actually, the title may be a little misleading. The list is not about the most expensive or most famous zip codes in America; it is about how quickly homes sell in a given area and how often buyers view homes for sale in that particular zip code. This is very interesting information for those of us that work in the world of real estate. It is also useful for homebuyers because properties in these areas are almost assured of maintaining (or increasing) their value for years to come.

According to Jonathan Smoke, the chief economist for Realtor.com “Each locale on this list is emblematic of the key trends driving housing this year—healthy local economics, job opportunities and affordability. For first-time homebuyers, these communities provide great opportunities to enter the housing market, build a career, and raise a family; older generations are able to build wealth and enjoy a variety of lifestyles.”

So, is 90210 at the top? Actually, it didn’t even make the top 50! The #1 zip code according to the report is 02176 in Melrose, Mass. Melrose is close to both Boston and Cambridge but is not quite as expensive as many would think and is considered to be in the somewhat “affordable” range for young professionals. The median price range in this zip code is only about 5% higher than the surrounding Metropolitan area even though Melrose is considered to be a bit “upscale” and a very desirable place to raise a family.

The chart below shows the top 50 “Hottest” zip codes in the country according to Realtor.com. Did your city make the list?



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