Here are the top 10 places buyers can get an offer
With house prices and mortgage rates soaring this year, despite a recent deceleration, homebuyers are getting creative with their purchases.
“Our list of the top 10 postcodes for 2022 shows a mix of shoppers wanting to find value near high-priced metros, and shoppers opting for high-priced postcodes in low-cost metros,” economists from the real estate information service Realtor.com, wrote in a report.
“These hot zips offer tremendous value, with larger than average homes at below average prices,” Realtor.com said.
To measure different cities, Realtor.com looked at market demand, as measured by unique viewers per property on Realtor.com, and the number of days an ad remains active on Realtor.com.
For a bit of context on the national housing market, in terms of price, the median sale price of existing homes totaled $403,800 in July, up 10.8% from the year. previous, according to the National Association of Realtors.
Meanwhile, the 30-year fixed-rate mortgage averaged 5.13% in the week of Aug. 18, down from 2.86% a year ago, according to Freddie Mac.
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These houses are close to major cities
As for hot postcodes, “many are within regular or occasional commuting distance of high-cost subways and at a lower price than their immediate surroundings, allowing shoppers to marry location and value,” said the economists at Realtor.com.
Granted, good deals may not last. “Zippers at the top of the list saw demand drive listing prices up an average of 18.6% year-over-year in June, outpacing average price growth of 16.9% in United States,” the economists said.
The northeast accounted for eight of the top 10 ZIP codes, with New England occupying six of those eight locations. The Midwest and the South each placed a ZIP code in the top 10. The West was left out due to its high house prices, the economists said.
The 10 Best Places to Get an Offer on a Home
Here is the list, in order of ranking
- Brighton, NYa suburb of Rochester, NY Median home listing price (as of June): $275,000.
- Nashua, NH, which is part of the Greater Manchester, NH-Nashua area. Median home listing price: $536,000.
- Worthington, Ohio, a suburb of Columbus, Ohio. Median home listing price: $467,000.
- Derry, NH, which is 42 miles from Boston. Median home listing price: $447,000.
- Windham, Maine, a suburb of Portland, Maine. Median home listing price: $505,000.
- Bethlehem, Pa., part of the Allentown, Pa.-Bethlehem metropolitan area. Median home listing price: $424,000.
- Johnson City, Tenn., its own metropolitan area. Median home listing price: $329,000.
- Hookset, NHa suburb of Concord, NH Median home listing price: $482,000.
- North Attleboro, Mass.a suburb of Providence, RI Median home listing price: $587,000
- Auburn, Maine, which is part of the Lewiston, Maine-Auburn metropolitan area. Median home listing price: $267,000.