The ZIP code where buyers are snapping up homes the fastest is a 43,000-person city outside of Boston.
Buyers are picking up properties in a median of 16 days in Beverly, Massachusetts, where the median listing price from January to June of this year is $746,000, according to a new report from Realtor.com that ranked the hottest zip codes around the country.
Beverly’s median price point is the third-highest among the top 50 markets in the U.S. after Alamo, California, a suburb of San Francisco with a median listing price of just under $3 million, and Warrenton, Virginia, a suburb of Washington, D.C. with a median listing price of $880,000.
Overall, markets in the Northeast and Midwest dominated the top spots on Realtor.com’s list.
Following Beverly is Marlton, New Jersey, a suburb of Philadelphia with about 10,600 residents. The median listing price in Marlton is $530,000, and homes are flying off the market in a median of 17 days, according to the ranking.
The majority of the top 10 ZIP fastest-selling codes had median listing prices higher than the national average, which was $441,000 in June. However, six of those metros were also cheaper than the surrounding area. For instance, the area around Beverly is about 16 percent higher than the city.
Additionally, most of the buyers looking for homes came from large metro areas, signaling that buyers may be looking more toward the suburbs to pick up property. New York City was the No. 1 source of out-of-market viewers, according to Realtor.com’s data.
Nationwide, home prices continue to rise, though the pace of growth has been slowing. The spring selling season, which usually is a prime time for sales, just had its weakest season since 2012, as pending home sales from April through June fell to a 13-year low.
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