The Hottest Real Estate Zip Code In America Is In GR
Realtor.com has just released its hottest selling zip codes in America, and the top one is mine. I should probably sell now, shouldn't I?
Holy crap, who knew I was sitting on a real estate tinder keg? My little house just north of Creston recently was valued by at $120,000, which seems crazy to me.
But maybe it's right.
Realtor.com's hottest zip codes list was released Wednesday and the Northeast side of Grand Rapids holds the top spot in the country.
The 49505 zip code covers most of the north side of the city covering on area mainly marked by Leonard Street on the south, along the Grand River on the west, I-96 on the north and almost to the East Beltline on the east.
It was the second year in a row a West Michigan zip code made the list. 49508 in Kentwood made the top ten in 2018.
The 2019 hottest ZIP codes America, in rank order, are: 49505 Grand Rapids, Mich.; 68144, Omaha, Neb.; 83704, Boise, Idaho; 66203 Shawnee, Kan.; 14609 Rochester, N.Y.; 48154 Livonia, Mich.; 02176 Melrose, Mass.; 76018 Arlington, Texas; 03045 Goffstown, N.H.; and 80916 Colorado Springs, Colo.
Homes in this year’s top 10 sell in an average of 17 days, 40 days faster than the rest of the country and 20 days faster than their respective metros, on average. Realtor.com users view homes in these markets 3 times more often than homes in the rest of the country and 1.9 times more often than in their respective metro areas, on average.
The web site describes the 49505 this way:
Located just north of downtown Grand Rapids, this ZIP runs along the Grand River and includes plenty of green space with the Kent Country Club, and four large parks. Its strong school system, which includes City High Middle School (GreatSchools rating of 9/10), attracts many to the family-oriented area.
Housing stats: Homes in this Grand Rapids ZIP sell in 10 days on average, with a median listing price of $178,050, which is up 11.3 percent year-over-year. Millennials make up the dominant buyer segment, where they account for 48 percent of new purchase mortgages. Millennials in this Grand Rapids ZIP make slightly less than the national median for millennials at $58,667 and $62,280, respectively.
The top three zips have several features in common according to Realtor.com spokesperson Danielle Hale, "they're close to city centers, they have huge amounts of millennials buying homes and are relatively affordable, which makes them attractive to entry level buyers."
"There's a lot of cool, little communities in that area," says real estate broker Michael Ross of Grand Rapids Realty. "It's up-and-coming and growing."
The area mainly offers suburban-style, single-family houses with backyards starting around $120,000. But prices are rising fast. They're up 11.3% year over year.
"Grand Rapids has a lot going for it. It's superaffordable," says Hale. "Younger buyers are coming in waves."