Columbus Has One Of The Hottest Zip Codes In The US. Again.

 In Apartment, Building, Construction, Developer, Market Trends

Ranking the Hottest Zip Codes – Q1 2018

We analyzed 16,000 zip codes based on the time it takes properties to sell and how frequently homes are viewed in each zip code. Homes in the top 20 zips were selling very fast, averaging 21 days on the market. This is 57 days faster than the national rate of 78 days during the first quarter of the year.

The hottest zip codes in the first quarter of 2018 show a geographically diverse spread, with 12 different states represented in the top 20 zips.

Colorado Springs, CO (80922) tops the list of hottest zips, with Fort Worth, TX (76148), San Ramon, CA (94583), Melrose, MA (02176), and Littleton, CO (80128) rounding out the top five.

Some surprises among the usual suspects

Overland Park (66212) in Kansas City was a bit of a surprise, edging into the top 10. The Kansas City metropolitan area itself has been hot this spring, and Overland Park is leading the pack in a new set of boiling hot neighborhoods in the Midwest.

If there is a dominant state, it’s California, representing seven of the top 20 zips. This massive amount of demand contributes to California’s increasingly challenging market for home buyers.

Colorado zips continue their hot streak highlighting the meteoric rise of Denver and its neighboring metros over the past decade – a pattern that other markets hope to replicate. In fact, we speculated as to whether Salt Lake City, UT is the ‘New Denver’ earlier this year and now we see Salt Lake City breaking into the top 20 zips.

Homes in the top markets are relatively affordable

The median price for a home in these markets was $377,000 – 1.4 times more than the national median during Q1 – with prices in 11 of the top 20 zips exceeding the national average. However, when compared to their immediate surrounding metro area, the median home listing price is lower in 14 of the top 20 zips.

 

 

Top 20 Hottest Zip Codes – Q1 2018

Rank Zip Code Zip Name Metro Median Listing Price Days on Market
1 80922 Colorado Springs, CO Colorado Springs, CO $293,700 15
2 76148 Fort Worth, TX Dallas-Fort Worth-Arlington, TX $176,867 16
3 94583 San Ramon, CA San Francisco-Oakland-Hayward, CA $923,113 16
4 02176 Melrose, MA Boston-Cambridge-Newton, MA-NH $569,433 24
5 80128 Littleton, CO Denver-Aurora-Lakewood, CO $432,050 11
6 14623 Rochester, NY Rochester, NY $126,908 19
7 49508 Grand Rapids, MI Grand Rapids-Wyoming, MI $183,575 19
8 95111 San Jose, CA San Jose-Sunnyvale-Santa Clara, CA $725,641 14
9 92126 San Diego, CA San Diego-Carlsbad, CA $562,383 22
10 66212 Overland Park, KS Kansas City, MO-KS $222,588 25
11 83704 Boise, ID Boise City, ID $242,607 28
12 55434 Minneapolis, MN Minneapolis-St. Paul-Bloomington, MN-WI $227,783 22
13 43085 Columbus, OH Columbus, OH $306,074 29
14 48017 Clawson, MI Detroit-Warren-Dearborn, MI $180,808 28
15 93710 Fresno, CA Fresno, CA $262,367 21
16 95678 Roseville, CA Sacramento–Roseville–Arden-Arcade, CA $419,914 25
17 95391 Tracy, CA Stockton-Lodi, CA $654,944 21
18 07043 Montclair, NJ New York-Newark-Jersey City, NY-NJ-PA $785,867 26
19 94952 Petaluma, CA Santa Rosa, CA $855,383 26
20 84123 Salt Lake City, UT Salt Lake City, UT $288,842 21
You can explore the full list of hottest zip codes on our Market Hotness Page

Methodology

The Realtor.com Market Hotness Index exposes how local areas are experiencing fast moving supply and rising demand. Using proprietary insights on buyer activity and the most comprehensive data on active inventory, the analysis breaks down demand and supply dynamics to rank metro areas, counties and zip codes relative to the rest of the country.

Realtor.com examined listing views by market as an indicator of demand and median days on market as an indicator of supply. This analysis led to the identification of the 20 hottest medium-sized to large markets in the country, selecting the top zip code from each metro area. Since this approach is calculated each month, we averaged monthly data across the quarter to compute these rankings.

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