From homes gone within a week of listing, to home prices that command upward of $800,000, some of the hottest housing markets in the second quarter are in ZIP codes that one wouldn't traditionally associate with a hot market and they're all out east. According to Realtor.com's data, six of the top 10 hottest ZIP codes in Q2 were in cities on the East Coast of the country.
Every quarter, Realtor.com analyzes data of 16,000 ZIP codes on its Market Hotness Index. It tracks the time it takes for properties to sell and how frequently homes are viewed.
In Q2, 49505 in Grand Rapids, Michigan topped the list. With a median listing price of $160,000 homes in this area flew off the market within seven days of being listed, the data indicated, while properties in this ZIP were viewed 4.25 times more than the national average. Of the top five markets, this ZIP was the only one seven days on the market. The days on the market for the other four ZIPs in the top five was at 12 days, Realtor.com said.
With a median home price of $874,000, the ZIP code 02139 in Cambridge, Massachusetts was among the most expensive markets among the top five, but with properties here viewed 4.64 times more than the national average, it came in second on the list. 76022 in Bedford, Texas; 14223 in Buffalo, New York; and 04103 in Portland, Maine rounded off the top 5.
Only two western cities featured among the top 10 in this list. One was 94546 in Castro Valley, California, which was ranked seventh with homes in this area costing an average of $816,000 and remaining for an average of 15 days on the market. 80922 in Colorado Springs, Colorado was ranked ninth on the list with homes here costing $301,000. They remained on the market for an average of 14 days and were viewed 3.17 times versus the U.S. national average.
Other ZIP codes among the top 10 were based in Rochester, New York; Overland Park, Kansas; and Boise, Idaho.
Click here to view the complete listing of the hottest ZIP codes in the second quarter.