Thursday, August 20, 2020 / by Vanessa Saunders
By Vanessa Saunders, MBA, MIMC , Broker Owner, Global Property Systems Real Estate.
Be proud, New York home owners. One of the hottest zip codes in America is here in New York. Realtor.com, which conducted the research says the trend is for “less populous, less expensive areas where people can social distance with ease and not worry about breaking the bank if their jobs become less secure during a time of widespread economic uncertainty.”
In our case, that less populous, less expensive Shangri-la is Rochester NY, which scored third in the nation in Realtor.com’s ranking. To compile the list of hottest ZIP codes, Realtor.com looked at activity for ZIP codes in the 300 largest metro areas (including the main city and surrounding urban areas, towns and suburbs) from April through June, and created its ranking based on which ZIP codes received the most page views per property on realtor.com and had the fewest days on market.
Realtor reports that Rochester is an affordable place to live,with its median home price coming in at $147,000, and most homes list below $300,000. Great news if you can actually buy a home. As in many New York cities, home buyers find it hard to compete with other buyers to “win” a home bidding war. Those getting homes are going to extreme lengths, often on a property that’s not their second or even third choice. One Rochester home buyer said, “Homes were selling after being on the market for two or three days, so we constantly had to check our MLS matrix, and sites like Zillow because we knew if we didn’t see a house within the first day that it was listed, it would probably be too late.”
Coming in at the top spot was Colorado Springs, CO, zip code 80911, with a median list price in the zip code at $306,500, and in the city limits at $455.050. A nature-lover’s paradise, Colorado Springs repeatedly ranked as Realtor.com’s hottest market during its monthly reports this spring.
To find out more about selling your home in the hot New York State real estate market, or for more information, CONTACT US.