{"id":3171,"date":"2023-08-25T15:16:27","date_gmt":"2023-08-25T15:16:27","guid":{"rendered":"http:\/\/billingsrealtybrokers.paradiseinnovations.com\/index.php\/2023\/08\/25\/we-cracked-the-code-see-americas-10-hottest-zip-codes-for-homebuyers-in-2023\/"},"modified":"2023-08-25T15:16:27","modified_gmt":"2023-08-25T15:16:27","slug":"we-cracked-the-code-see-americas-10-hottest-zip-codes-for-homebuyers-in-2023","status":"publish","type":"post","link":"http:\/\/billingsrealtybrokers.paradiseinnovations.com\/index.php\/2023\/08\/25\/we-cracked-the-code-see-americas-10-hottest-zip-codes-for-homebuyers-in-2023\/","title":{"rendered":"We Cracked the Code! See America\u2019s 10 Hottest ZIP Codes for Homebuyers in 2023"},"content":{"rendered":"

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Getty Images<\/p>\n

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The housing market of the past few years has been defined by affordability\u2014or rather, the lack of it. Buyers encountering record-high home prices<\/a> and fast-rising mortgage rates<\/a> increasingly sought out places where they could secure a reasonably priced home.<\/p>\n

The Realtor.com\u00ae annual Hottest ZIP Codes<\/a> of 2023 have evolved into more than just places where buyers can find cheap real estate. While affordability is still top of mind, many buyers are prioritizing other perks such as short commutes to the office, good school districts, and charming downtowns.<\/p>\n

It\u2019s a tale of two very different types of homebuyers. High home prices and mortgage rates of around 7% have forced some buyers into more affordable pockets of the country<\/a>, such as in the Midwest. Others appear to have made peace with the higher homebuying costs and are prioritizing larger homes located in amenity-laden suburbs just outside of the bigger, Northeastern cities.<\/p>\n

\u201cThis year\u2019s hottest ZIPs values bang for your buck and<\/em> convenience,\u201d says Realtor.com senior economic analyst Hannah Jones<\/strong>. \u201cBuyers are looking for areas where they can get a good amount of space for their money and also be within commuting distance of a large city as employers are bringing workers back to the office.\u201d<\/p>\n

This year\u2019s list was concentrated in the Midwest and Northeast with not a single ZIP code from the Western or Southern regions of the country making the cut.<\/p>\n

\u201cA lot of West Coast ZIP codes are still just too expensive to be drawing in a lot of demand. Similarly, a lot of Southern ZIP codes saw sizable price growth during the [COVID-19] pandemic, so have seen demand wane,\u201d says Jones. \u201cThe Midwest and the Northeast didn\u2019t see the same level of price growth.\u201d<\/p>\n

More than half of the top 10 ZIP codes have median list prices below the national median of $445,000 in June. However, one of the ZIP codes, outside of New York City, has a median price tag of over $1 million.<\/p>\n

And prices are rising quickly in these ZIP codes. Home values in the communities shot up 7.2% in the first half of the year compared with the same period in 2022. Nationally, real estate values increased only 4.2% over that time span.<\/p>\n

The higher prices are due to the popularity of these communities even as the number of homes for sale drops. Listings in the hottest ZIP codes received about 3.1 times more views than the typical listing nationally. They also sold quickly, spending just 10 to 25 days on the market compared with 44 days nationally.<\/p>\n

The fast turnover took a toll on the available housing inventory in these areas. While the number of homes for sale increased by 7.1% nationally in the first six months of this year, inventory dropped 22.4% in the hottest ZIP codes.<\/p>\n

\u201cBuyers are looking for value,\u201d says Jones. \u201cThis year\u2019s list does seem to be split between buyers looking for somewhere that is overall affordable. Also, we have some areas where prices are a lot higher, but they offer more amenities, a more idyllic setting within commuting distance of larger cities.\u201d<\/p>\n

The hottest ZIP codes list was compiled by looking at housing market supply and demand using\u00a0Realtor.com\u00a0listing data from January to June 2023. The economic research team looked at the number of views listings in each ZIP code received on the site and how quickly the homes were sold.<\/p>\n

The list was limited to just one ZIP code per metropolitan area.<\/p>\n

These are the hottest ZIP codes in 2023:<\/p>\n

1. 43230<\/a><\/h2>\n

A home for sale in Gahanna, OH, listed at $385,000<\/p>\n

Realtor.com<\/p>\n

Town: Gahanna, OH<\/strong>
\nMetro: Columbus, OH<\/strong>
\nMedian home list price: $351,000<\/strong><\/p>\n

Just outside of Columbus sits the charming suburb of Gahanna. Homes in this ZIP code cost about 2.7% less than the average for the Columbus metro area\u2014and 12.7% below the national median.<\/p>\n

\u201cIt\u2019s just a great opportunity for first-time homebuyers,\u201d says Lee Ritchie<\/strong>, a Realtor\u00ae with Re\/Max Partners in Columbus. \u201cIt has a nice housing stock with varying home styles. The Gahanna-Jefferson schools are well-regarded. It has a really good downtown area by a creek that has nice restaurants and cute shops.\u201d<\/p>\n

Gahanna\u2019s location is another draw. It\u2019s not far from the Intel chip manufacturing megasite going up in Columbus, and it\u2019s close to downtown Columbus and the airport.<\/p>\n

\u201cWhen someone has a budget of up to $400,000, Gahanna is an area that I always highly recommend for them to consider,\u201d says Ritchie.<\/p>\n

The majority of homes for sale in the ZIP code are single-family houses, a mix of modest brick, ranch, and split-level abodes. And while there are plenty of more expensive options available<\/a>, buyers can still find three-bedroom, two-bathroom houses<\/a> for around $250,000.<\/p>\n

2. 06489<\/a><\/h2>\n

Town: Southington, CT<\/strong>
\nMetro: Hartford, CT<\/strong>
\nMedian home list price: $368,000<\/strong><\/p>\n

About halfway between Hartford<\/a> and New Haven<\/a>, the \u201cApple Valley\u201d is known for its orchards, the Mount Southington Ski Area, and Lake Compounce, one of the longest continuously operating amusement parks in the nation. Established in 1779, the town now has more than 43,000 residents.<\/p>\n

Most of the homes in the ZIP code are a mix of Cape Cods, Colonials, ranches, and split-level residences, but there are also some lower-priced condos and townhomes for sale. Buyers can snag a two-bedroom, 1.5-bathroom condo<\/a> for about $190,000.<\/p>\n

3. 07450<\/a><\/h2>\n

A home for sale in Ridgewood, NJ, listed at $1.6M<\/p>\n

Realtor.com<\/p>\n

Town: Ridgewood, NJ<\/strong>
\nMetro: New York City, NY<\/strong>
\nMedian home list price: $1,184,000<\/strong><\/p>\n

About an hour west of New York City, this upscale New Jersey suburb is popular with higher-income commuters looking for good schools, nice restaurants, and larger homes.<\/p>\n

The homes for sale in the bedroom community reflect the higher median price tag. They\u2019re mostly well-kept, more spacious Colonials, including this five-bedroom, 1.5-bathroom home<\/a> with a wraparound porch on 0.4 acres for $1,175,000.<\/p>\n

4. 01810<\/a><\/h2>\n

Town: Andover, MA<\/strong>
\nMetro: Boston, MA<\/strong>
\nMedian home list price: $992,000<\/strong><\/p>\n

The former mill town of Andover, about 25 miles north of Boston, is called the \u201cHome of America\u201d at least partly in honor of the song \u201cAmerica\u201d being composed in the quaint, New England town in 1831.<\/p>\n

Today, the wealthy community is home to the posh boarding school Phillips Academy.<\/p>\n

The real estate isn\u2019t cheap in Andover, and it\u2019s getting more expensive. In July, home prices spiked about 24% year over year as the number of homes for sale fell 13.5% over the same period, according to Realtor.com data.<\/p>\n

Buyers can find larger, stately homes for sale<\/a> as well as more affordable two- and three-bedroom condos for sale for about half of the median list price<\/a>.<\/p>\n

5. 18064<\/a><\/h2>\n

A home for sale in Nazareth, PA, listed at $600,000<\/p>\n

Realtor.com<\/p>\n

Town: Nazareth, PA<\/strong>
\nMetro: Allentown, PA<\/strong>
\nMedian home list price: $429,000<\/strong><\/p>\n

The town of Nazareth, about an hour and a half from Philadelphia to the south and New York City to the east, has become popular with buyers for its reasonable real estate prices, good schools, and plenty of family-friendly things to do.<\/p>\n

\u201cIt\u2019s a working-class town that has seen increasing [buyer] interest over the last couple of years,\u201d says Allentown real estate agent Faith Brenneisen<\/strong>, of Keller Williams Real Estate. \u201cWhat people love a lot about Nazareth is it\u2019s in walking distance to points of interest. You\u2019ve got the farmers market, you\u2019ve got ice cream shops. It\u2019s a quaint little town with things to do.\u201d<\/p>\n

Almost a third of the views on local listings came from the New York City metro area, where home prices are considerably higher, at a median of $737,500 in July.<\/p>\n

Nearly all of the homes in this ZIP code are single-family homes, a mix of one- to three-story houses. Prices range from three-bedroom ranches<\/a> in the mid-$300s to new construction costing over $800,000<\/a>. This four-bedroom, three-bathroom ranch<\/a> with an above-ground pool and deck is on the market for $479,500.<\/p>\n

6. 46322<\/a><\/h2>\n

Town: Highland, IN<\/strong>
\nMetro: Chicago, IL<\/strong>
\nMedian home list price: $268,000<\/strong><\/p>\n

The town of Highland used to be known just as the \u201cHighlands\u201d in the 19th century, when it was mostly swampland.<\/p>\n

Today, Highland, which sits near the Indiana-Illinois border about 30 miles southeast of Chicago, boasts parks, a local brewery, and affordable real estate.<\/p>\n

Homes in the ZIP code tend to be smaller Cape Cods<\/a>, cottages, and ranches<\/a> with some townhomes<\/a> and condos<\/a> thrown in. This four-bedroom, two-bathroom Cape Codder<\/a> is on the market for just under $300,000.<\/p>\n

7. 48183<\/a><\/h2>\n

A condo for sale in Trenton, MI, listed at $200,000<\/p>\n

Realtor.com<\/p>\n

Town: Trenton, MI<\/strong>
\nMetro: Detroit, MI<\/strong>
\nMedian home list price: $238,000<\/strong><\/p>\n

About 40 minutes south of Detroit on the west bank of the Detroit River, Trenton was once a port town with steamboats and shipyards. Today, the Downriver community offers hiking and biking trails, restaurants, and plenty of annual festivals.<\/p>\n

Trenton also offers the most affordable homes on our list. These abodes\u2014a mix of ranches<\/a> and split-level<\/a> homes, condos<\/a>, and a few mobile homes<\/a>\u2014often have less square footage than homes in some of the wealthier ZIP codes.<\/p>\n

This three-bedroom, 1.5-bathroom ranch<\/a> on a third of an acre is on the market for about $270,000.<\/p>\n

8. 06851<\/a><\/h2>\n

Town: Norwalk, CT<\/strong>
\nMetro: Bridgeport, CT<\/strong>
\nMedian home list price: $596,000<\/strong><\/p>\n

The home prices in Norwalk might seem high, especially when compared with places like Trenton. However, real estate prices are reasonable compared with the multimillion-dollar price tags in the posh, surrounding towns of Darien<\/a>\u00a0and Westport<\/a>.<\/p>\n

Norwalk, which sits on the Long Island Sound, is popular with commuters heading into New York City, about an hour\u2019s train ride away. More than a third of views came from people living in the New York City metro area.<\/p>\n

The city is now known for more than its oyster farming and Maritime Aquarium. The trendy South Norwalk district, just southwest of the ZIP code, is filled with eclectic restaurants, cute boutiques, and quirky spots like Eco Revolution, a mix of a coffee shop, thrift store, and event space.<\/p>\n

The housing stock in Norwalk is made up of Cape Cods<\/a>, Colonials, condos, and spacious townhomes<\/a>.<\/p>\n

9. 14534<\/a><\/h2>\n

A new-construction home for sale in Pittsford, NY, listed at $560,000<\/p>\n

Realtor.com<\/p>\n

Town: Pittsford, NY<\/strong>
\nMetro: Rochester, NY<\/strong>
\nMedian home list price: $595,000<\/strong><\/p>\n

Pittsford, not far from the banks of Lake Ontario, is an upscale, suburban community with highly rated schools just outside of Rochester. The historic center of town is filled with boutiques, restaurants, and antiques shops.<\/p>\n

Homes are significantly more expensive than in Rochester proper, which has a roughly $170,000 median price tag. The homes in Pittsford are often on the larger size, with a good number of the listings being newly constructed houses<\/a>.<\/p>\n

Buyers can snap up this three-bedroom, 2.5-bedroom home<\/a> on a half-acre for about $450,000.<\/p>\n

10. 63021<\/a><\/h2>\n

Town: Ballwin, MO<\/strong>
\nMetro: St. Louis, MO<\/strong>
\nMedian home list price: $353,000<\/strong><\/p>\n

Over the past few years, more younger families with children are moving into Ballwin, an up-and-coming community about a half-hour west of St. Louis. Many of these buyers are purchasing older homes and renovating them, helping to increase Ballwin home values, says local real estate agent Alicia Metzger<\/strong>, of Coldwell Banker Realty Gundaker.<\/p>\n

\u201cIt\u2019s good value,\u201d says Metzger. \u201cIt\u2019s a great location. You have access to all of the highways.\u201d<\/p>\n

Ballwin\u2019s homes are mostly ranches<\/a>, two-story<\/a> and split-level houses<\/a>, and a smattering of condos<\/a> and more expensive McMansions<\/a> thrown in.<\/p>\n

The post We Cracked the Code! See America\u2019s 10 Hottest ZIP Codes for Homebuyers in 2023<\/a> appeared first on Real Estate News & Insights | realtor.com\u00ae<\/a>.<\/p>","protected":false},"excerpt":{"rendered":"

Getty Images The housing market of the past few years has been defined by affordability\u2014or rather, the lack of it. Buyers encountering record-high home prices and fast-rising mortgage rates increasingly sought out places where they could secure a reasonably priced home. The Realtor.com\u00ae annual Hottest ZIP Codes of 2023 have evolved into more than just…Read More→<\/a><\/p>\n","protected":false},"author":0,"featured_media":3172,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"class_list":["post-3171","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-uncategorized"],"_links":{"self":[{"href":"http:\/\/billingsrealtybrokers.paradiseinnovations.com\/index.php\/wp-json\/wp\/v2\/posts\/3171","targetHints":{"allow":["GET"]}}],"collection":[{"href":"http:\/\/billingsrealtybrokers.paradiseinnovations.com\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"http:\/\/billingsrealtybrokers.paradiseinnovations.com\/index.php\/wp-json\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"http:\/\/billingsrealtybrokers.paradiseinnovations.com\/index.php\/wp-json\/wp\/v2\/comments?post=3171"}],"version-history":[{"count":0,"href":"http:\/\/billingsrealtybrokers.paradiseinnovations.com\/index.php\/wp-json\/wp\/v2\/posts\/3171\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"http:\/\/billingsrealtybrokers.paradiseinnovations.com\/index.php\/wp-json\/wp\/v2\/media\/3172"}],"wp:attachment":[{"href":"http:\/\/billingsrealtybrokers.paradiseinnovations.com\/index.php\/wp-json\/wp\/v2\/media?parent=3171"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/billingsrealtybrokers.paradiseinnovations.com\/index.php\/wp-json\/wp\/v2\/categories?post=3171"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/billingsrealtybrokers.paradiseinnovations.com\/index.php\/wp-json\/wp\/v2\/tags?post=3171"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}