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New England is home to four of the 10 hottest ZIP codes in the nation, according to a new report from Realtor.com.
Beverly is home to the hottest ZIP code in the nation according to Realtor.com. Homes in the North Shore city were on the market for just 16 days. Additionally, the median sale price for a single-family home was $749,900 in June, according to The Warren Group, the publisher of Banker & Tradesman.
Beverly was one of three ZIP codes where local buyers outnumbered out-of-area interest, according to Realtor.com.
The company said its analysis was “based on an algorithm that takes into account two aspects of the housing market: 1) market demand, as measured by unique viewers per property on Realtor.com, and 2) the pace of the market as measured by the number of days a listing remains active on Realtor.com.”
“In a year when affordability challenges and limited inventory continue to weigh on buyers, the ZIP codes rising to the top of our list stand out for offering both strong value and livability,” Realtor.com Chief Economist Danielle Hale said in a statement. “Once again, the Northeast and Midwest dominate, driven by buyers from high-cost metros looking for relief without sacrificing access to jobs and amenities.”
Only two cities returned from the 2024 list, with one of those being Leominster. The North Central Massachusetts city is home to the third hottest ZIP code with a median time on market of 18 days and a median sale price for a single-family home of $528,000. However, Beverly’s southern neighbor, Salem, landed in third place in last year’s ranking.
The North Shore has drawn Boston-area homebuyers for several years, thanks to its lower-than-elsewhere prices and connections to both downtown Boston and the Route 128 belt.
Connecticut was also featured on the list as the New York City exurb of Trumbull, was the seventh-hottest ZIP code in the nation. Homes were on the market for 25 days on average and the median sale price for a single-family home was $615,000. South Windsor, a Hartford suburb, also came in ninth as homes were on the market for an average of 27 days and selling for an average price of $490,000.
