“Hottest.” It’s a vague term, isn’t it? When describing real estate markets does it mean those with the highest prices? Quickest sales period? Most closed sales? Judging by what we find on the internet, it can mean any of these.
So, we’ve decided to stick with the National Association of REALTORS’ method. They “analyzed 32,000 ZIP codes based on factors like the time it takes properties to sell and how frequently homes are viewed in each ZIP code.”
Using this method, California offers up only one city to the top 10 while Michigan and Colorado best them with two. Today, we’ll take a closer look at the top 5 Hottest U.S. Real Estate Markets.
- Watauga, Texas
We have a feeling that Watauga, Texas’ 2010 census numbers (population 23,497) need to be ratcheted way up. For the second consecutive year, Realtor.com picked this small city in northeast Tarrant County to top the list of 2017’s Hottest ZIP Codes.
It’s also a millennial hot spot; the city’s population has a median age of 33.8 years, according to the city of Watuaga website.
At first glance, it may seem surprising that a city that encompasses only a smidge more than 4- square miles and offers no public transportation, has homes for sale that receive five times more views at Realtor.com than homes in any other part of the country.
But, get to know Watauga and you’ll understand. First, it’s considered a suburb of Fort Worth (located about 20 miles southwest of Watauga). Then, while both of the school districts that serve Watauga’s public-school students are excellent, Keller (which serves those who live in northwest Watauga) is ranked 98 of Texas’ 933 school districts, according to Schooldigger.com. Watauga also ranked
The median home price in 76148 is $160,441 and, if you plan on buying here, you’ll need to snag a home quickly – they remain on the market an average of only 18 days.
- Livonia, Michigan
Being named to Realtor.com’s list of hot real estate markets isn’t Livonia, Michigan’s first award rodeo. Apartment List ranked it at number 40 in its list of the country’s Top 100 Family Friendly Cities and Zippia.com, a job search company, named Livonia the 10th Happiest Mid-Sized City in the Nation.
One striking feature of the city is the homeownership rate – 81 percent. Livonia also has low poverty and super low tax rates.
City leaders brag about the quality schools, parks system (“It has more parks than nearly any other municipality in Michigan,” according to the city’s website). Best of all, big city amenities in Detroit are only about 30 minutes away.
According to Realtor.com, the median list price of a home in Livonia is $224,000 and homes remain on the market, on average, for only three weeks.
- Kentwood, Michigan
Realtor.com chose homes in ZIP code 49548 among the hottest in the nation. Located about 20 minutes south of Grand Rapids, residents here enjoy the feel of the ‘burbs with close proximity to big-city amenities.
Then, there’s the area’s booming economy. In fact, the entire metropolitan area came in at number one in the U.S. for job growth, according to Headlight Data. So, not only can you easily find a job in Kentwood, but you can purchase a home for a median price of only $118,833.
But, you’ll need to act quickly. Kentwood’s real estate market is so hot that homes stay on the market an average of 16 days.
- Medford, Massachusetts
Tucked away in northwest Boston, Medford’s real estate market is fiery hot, with homes flying off the market within an average 19 days. With a median list price of $541,158, that may seem like an incredible feat. But, not when you get to know Medford.
Founded in 1630, the town is the fourth oldest English settlement in the country, according to boston.com. It’s home to two historic districts so if you’re keen on a vintage home, this is your new city.
Families and outdoorsy types appreciate the 118 acres of parkland, while city leaders like the fact that Tufts University is local, so their “brain drain” is minimized.
The key to Medford’s popularity lies in the lifestyle it offers, with gorgeous vistas along the Mystic River, yet only 3.2 miles from the hustle and hum of downtown Boston.
- Littleton, Colorado
According to city leaders, there are 15 ZIP codes associated with Littleton, Colorado and 80123, the ZIP chosen by realtor.com as a “hot” real estate market, is only partially located within Littleton’s boundaries. You’ll find it in the extreme northwest part of Littleton, and it includes two golf courses, numerous parks and several bodies of water.
Most of these are no doubt at least partially responsible for this market’s popularity, but the area’s proximity to Denver (9 miles) is most likely what cinches the deal for many homebuyers.
The lucky homeowners in 80123 can plan on selling their homes within three weeks, on average, and for a median list price of $533,873.
Think your town should be on the list? Let us know in the comments!