Realtor.com released a list of the “50 Hottest ZIP Codes” for real estate in the United States, sorted by demand rather than temperature, and cities in the Wilmington metropolitan area made the top 10. But that’s New Jersey.
Mount Laurel, N.J. – about 80 miles from Wilmington – is rated “hot” by the number of people viewing those properties on the website and how long homes have previously been on the market in that zip code. ‘s 2024 list ranking ZIP codes. It’s sold.
According to Realtor.com, “The most popular areas are those with high demand from buyers, meaning there are many unique viewers for each property for sale, and where supply is limited. These are fast-selling homes that show that there are.”
Metropolitan markets were listed for each top zip code, with Mount Laurel’s metropolitan areas being “Philadelphia, Camden, and Wilmington.”
Realtor.com’s Mount Laurel listings have 3.3 viewers per listing and a median time on the market of just 18 days. The median list price was $385,000.
For comparison, the average time a home was on the market in Delaware in August was 34 days, and the median listing price was $396,100, according to the Delaware Association of Realtors. (Realtor.com lists the median time a home has been on the market, while the Delaware Association of Realtors lists averages, so it’s not an exact comparison.)
More Delaware real estate news: Sussex commission approves 758-unit North Star development planned for Lewes
Mount Laurel Mayor Fozia Janjua was pleased with the ranking of the town, which had 44,633 residents in the 2020 U.S. Census.
“This reflects the vibrant, welcoming and thriving environment we have fostered here at Mount Laurel,” Janjua said. “I am extremely proud of the progress we have made in making our city a place where people want to live, work and raise their families.”
Tori Schroff, a Mount Laurel resident and owner of Schroff Real Estate Group in Moorestown, New Jersey, knows how desirable Mount Laurel homes are.
“We have a lot of people coming from northern New Jersey and New York. They’re looking for discounts, a good school system, work opportunities, and being a center of life in coastal towns and big cities. , realizing that they can lead a similar lifestyle,” Shroff said.
Realtor.com says the Mount Laurel ZIP code is likely to be attractive to buyers looking for a community with “the right mix of size and amenities within commuting distance of their offices.” said. The median price was higher than the metro area median but lower than the U.S. median.
What are the top 10 hottest real estate markets in the United States?
The top 10 hottest markets according to Realtor.com rankings are:
1. Gahanna, OH, Columbus metropolitan area, 4.3 viewers per property, 11 days on market, median listing price $345,0002. Ballwin, MO, St. Louis metropolitan area, 3.5 viewers per property, 16 days on market, median listing price $409,0003. Salem, Boston, Cambridge, Newton metropolitan area, MA, 3.6 viewers per property, 16 days on market, average listing price of $596,0004. Basking Ridge, NJ, within the New York, Newark, and Jersey City metropolitan areas, 3.5 viewers per property, 16 days on the market, average listing price of $967,0005. Rochester, NY, Rochester Metropolitan Area, 2.9 viewers per property, 8 days on market, median listing price $151,0006. Mount Laurel, New Jersey in the Philadelphia, Camden, and Wilmington metropolitan areas, 3.3 viewers per property, 18 days on the market, average listing price of $385,0007. Leominster, MA is located in the Worcester metropolitan area, has 4.2 viewers per property, has been on the market for 21 days, and has a median listing price of $462,0008. Westfield, MA, Springfield metropolitan area, 5.2 viewers per property, 20 days on market, median listing price $347,0009. Highland, Indiana, Chicago, Naperville, and Elgin metropolitan areas, 3.3 viewers per property, median time on market 21 days, median listing price $250,000,000. Macungie, Allentown, Bethlehem, and Easton metropolitan areas, Pennsylvania, 2.7 viewers per property, median time on market 16 days, median listing price $462,000
Realtor.com reported, “Buyers are eyeing the affordable Midwest and well-located Northeast metros for value and desirability.”
The Midwest also ranks high on this list. Which is the best city with the lowest cost of living? Two rankings refer to the same place
No postal codes in the South or West regions are in the top 10.
“Buyer interest is shifting away from areas that are generally out of reach or have become unaffordable due to significant price increases during the pandemic,” the website said.
Low price wasn’t necessarily a factor, with median prices ranging from $155,000 to $967,000.
“While some buyers are looking for a deal in a specific area, whether they are relocating from a high-priced area or looking to cash out on existing home equity, keeping prices low may not be an option. Some buyers aren’t that interested. They need to upgrade,” says Realtor.com. “Also, higher-priced markets may be particularly attractive to higher-income buyers looking to relocate from busy business centers to locations with more comprehensive appeal.”
What is the appeal of the top areas?
Gahanna, Ohio topped the Realtor.com list for the second year in a row.
This area near Columbus offers residents the benefits of big-city amenities and quality of life at a lower price, according to Realtor.com. Attractions include The Ohio State University, the Short North Arts District, and a “captivating foodie scene.”
In the first half of this year, home prices in the Gahanna ZIP code were about 11% lower than the metro area average and 19.4% lower than the national median.
Cherry Hill Courier-Post reporter Nick Butler contributed to this article.
Reporter Ben Mace covers real estate, development and business news. Please contact us at rmace@gannett.com.
