Real estate market 2019: Where are homes selling fast? Realtor.com looked at areas where homes had the most page views and the fewest days on the market.
We’re in the middle of the 2019 real estate market and homes in these neighborhoods are selling much faster than the national median of 56 days on the market.
The economics team at Realtor.com analyzed 16,000 ZIP codes from January through June of this year. The team determined where homes received the most page views and had the fewest days on the market. Median home list prices, mortgage statistics, employment and population growth figures, household incomes, and other demographic statistics were also factored into their report.
It might come as a surprise that the hottest ZIP codes aren’t in big cities where homebuyers are competing for limited housing supply. This year, homes are selling the fastest in the much more affordable Midwest and Northeast.
“People are looking for more affordable places to live,” says Chief Economist Danielle Hale of Realtor.com. “Last year we saw people moving to far-out suburbs of major cities. This year, we’re seeing people move to smaller metro areas, which are even less expensive. And they still get access to city life—just not in the biggest cities.”
Real Estate Market 2019: America’s Hottest ZIP Codes
These are the top 10 ZIP codes showing big-time buyer interest and lots of quick home sales:
- Grand Rapids, MI – Creston, ZIP code 49505, tops the list for the second year in a row. Homes spend a median of 10 days on the real estate market in 2019. The Creston area has had an influx of young residents because of its close proximity to downtown, access to plenty of parks and good public schools.
- Omaha, NE – Prairie Lane, ZIP code 68144, has a thriving job market, is located just 12 miles west of downtown Omaha, has plenty of shopping and borders Zorinsky lake. Homes spend a median of 21 days on the market and sell for a median price of $238,950.
- Boise, ID – Homes in Winstead Park, ZIP code 83704, spend a median of 14 days on the market and sell for a median price of $289,950. “Boise has a great tech scene with lots of local employers,” says Hale. The area is “a big draw for people in California and Washington who want to stay in the industry, but are tired of the expense.”
- Shawnee, KS – In Old Shawnee, ZIP code 66203, homes stay on the market for a median of 13 days and sell for a median of $220,050. Prices have jumped more than 16 percent in the area year over year. It’s an attractive area because of its location between two major highways, just 10 miles southwest of Kansas City, MO.
- Rochester, NY – North Winton Village, ZIP code 14609, has plenty of jobs in the medical and education industries with the nearby University of Rochester and Rochester Institute of Technology. Homes in North Winton Village spend a median of 17 days on the market and sell for a median of $125,050.
Rounding Out the Top 10 Hottest ZIP Codes in 2019
- Livonia, MI, ZIP code 48154, is near employment hubs like Ford Motor Co. in Dearborn and close enough to Detroit that residents benefit from its cultural amenities. Homes spend an average of 17 days on the market and sell for a median of $254,950.
- Melrose, MA – In the neighborhood of Wyoming, ZIP code 02176, homes spend a median of 18 days on the market and sell for a median of $629,050. Homes in Melrose cost nearly double the national median home price. It’s an affluent Boston suburb with a strong school system and a lively downtown.
- Arlington, TX – Southeast Arlington, ZIP code 76018, is right between Dallas and Fort Worth, two cities where large companies have been moving to expand. Homes spend a median of 20 days on the market and sell for a median of $215,050.
- Goffstown, NH – In Pinardville, ZIP code 03045, homes spend a median of 22 days on the market and sell for a median of $325,050. It’s a small, historic town located 90 minutes north of Boston and just west of Manchester, NH.
- Colorado Springs, CO, ZIP code 80916, has the outdoorsy culture of Denver and Boulder without the high home prices. Homes spend a median of 21 days on the market and sell for a median price of $245,050. It’s known for the Garden of the Gods, 1,300 acres of breathtaking, natural sandstone formations.
Real Estate Market 2019: Finding the Right Home
Finding the right home in the 2019 real estate market is a challenge. According to a survey by Realtor.com, more than 30 percent of first-time homebuyers were searching for the right home to buy for more than six months as of this spring, and nearly 25 percent of them were looking for longer than a year. That’s a huge jump compared to 18 percent and 11 percent, respectively, in spring 2017. Homebuyers most frequently had trouble finding a good house that met their needs and was in their budget range.
Another survey, by Porch, asked new homeowners what their biggest regrets were about buying a home and their responses echoed similar sentiments. The top complaints from new homeowners were the amenities, configuration/layout and the location of their new homes.
Finding the right home is all about bridging your wants and needs with your realistic options. Every homebuyer has to make a number of big decisions during the homebuying process. Those decisions require careful negotiations between must-haves and would-be-nices. The more confident you are in what you’re looking for and where you’re willing to compromise the easier the home buying process will be.