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Massachusetts is home to some of the hottest ZIP codes in the country according to a report from Realtor.com.
While Gahanna, Ohio (43230) took the top spot for the second straight year, Salem (01970) came in third with Leominster (01453) and Westfield (01085) also making it into the top 10. Realtor.com’s annual Hottest ZIP Code rankings are based on an algorithm that takes into account market demand, as measured by unique viewers per property on Realtor.com, and the pace of the market as measured by the number of days a listing remains active on Realtor.com based on listing data from January to June 2024. The list of top ZIP codes is limited to one ZIP code per metropolitan area.
“While we’ve seen big changes in the housing market, such as a growing number of homes for sale, this year’s hottest ZIP codes in America show common factors are driving interest in these highly competitive areas,” Realtor.com Chief Economist Danielle Hale said in a statement. “Although mortgage rate relief is starting to materialize, this year’s hottest ZIPs reflect the focus on affordability that home shoppers have had over the last few years in the face of high housing costs. Concentrated in larger metros across the Northeast and Midwest, these top 10 ZIPs attracted highly qualified home buyers seeking more space without relinquishing proximity to urban amenities.”
Seven of the 10 hottest ZIP codes on the list are in the Northeast, and even the Springfield, Massachusetts metro is represented by a ZIP code – Westfield’s –on the Hottest list for the first time in the analysis’ history. Over 1,500 residential property sales occurred in 2023 with 1,063 sales being single-family homes according to data compiled by The Warren Group, publisher of Banker & Tradesman. Through July 31 of this year, 874 residential property sales have taken place in Springfield with 574 sales being single-family homes.
In 2023, 470 residential properties were purchased in Salem with a median sale price of $540,000, while 151 single-family homes were sold in the North Shore city with a median sale price of $585,000. So far in 2024, 270 residential properties have been purchased there with a median price of $599,450.
Leominster saw 431 residential homes purchased in 2023 with 239 sales so far in 2024.
