Realtor.com has released its list of the “50 Most Popular Zip Codes” — based on demand, not temperature — for real estate in the U.S., and a city in the Wilmington metropolitan area is in the top 10. But it’s in New Jersey.
Mount Laurel, New Jersey – about 50 miles from Wilmington – is sixth on the 2024 list, which ranks “hot” zip codes based on the number of people viewing these properties on the website and how long a home in that zip code has been on the market condition before it is sold.
“The hottest areas are those with high buyer demand, in other words, many unique viewers per home for sale, and fast-selling homes, an indicator of limited supply,” according to Realtor.com.
A metropolitan market was listed for each of the major zip codes, and for Mount Laurel the metropolitan area was “Philadelphia, Camden, Wilmington.”
Mount Laurel properties on Realtor.com had 3.3 viewers per home and the average time on the market was just 18 days. The average price was $385,000.
By comparison, in August in Delaware, the average time a home spent on the market was 34 days and the average sales price was $396,100, according to the Delaware Association of Realtors. (Realtor.com reported the average time a home was on the market, while the Delaware Association of Realtors reported the average, so not an exact comparison.)
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Mount Laurel Mayor Fozia Janjua welcomed the ranking for the township, which had a population of 44,633 at the 2020 U.S. Census.
“It reflects the vibrant, welcoming and thriving environment we have created here in Mount Laurel,” Janjua said. “I am incredibly proud of the progress we have made to make our city a place where people want to live, work and raise their families.”
Tory Schroff, a Mount Laurel resident and owner of Schroff Real Estate Group in Moorestown, New Jersey, has noticed how desirable homes in Mount Laurel have been.
“We’ve seen a lot of people come from northern New Jersey and New York. They realize they can live a similar lifestyle but at a discount, good school systems, work opportunities and be a central hub for living in coastal towns and big cities,” said Schroff.
Realtor.com said Mount Laurel’s zip code is likely attractive to buyers looking for a community with the “right combination of size and amenities within commuting distance of the office.” The median price was higher than the metropolitan area median, but lower than the U.S. median.
Here are the top 10 hottest markets in Realtor.com’s rankings:
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1. Gahanna, Ohio, in the Columbus metro area, 4.3 viewers per home, 11 days on market, average sales price $345,000
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2. Ballwin, Missouri, in the St. Louis metro area, 3.5 viewers per home, 16 days on market, average sales price $409,000
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3. Salem, Massachusetts, in the Boston, Cambridge, Newton metro area, 3.6 viewers per home, 16 days on market, average sales price $596,000
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4. Basking Ridge, New Jersey, in the New York metro area, Newark, Jersey City, 3.5 viewers per home, 16 days on market, average sales price $967,000
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5. Rochester, New York, in the Rochester metro area, 2.9 viewers per home, eight days on market, average sales price $151,000
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6. Mount Laurel, New Jersey, in the Philadelphia metro area, Camden, Wilmington, 3.3 viewers per home, 18 days on market, average sales price $385,000
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7. Leominster, Massachusetts, in the Worcester metro area, 4.2 viewers per home, 21 days on market, average sales price $462,000
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8. Westfield, Massachusetts in the Springfield metro area, 5.2 viewers per home, 20 days on market, average sales price $347,000
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9. Highland, Indiana, Chicago metro area, Naperville, Elgin, 3.3 viewers per home, median 21 days on market, median sales price $250,000
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10. Macungie, Pennsylvania, in the Allentown, Bethlehem, Easton metro area, 2.7 viewers per home, 16 days on market, median, average sales price $462,000
“Buyers have chosen affordable metro areas in the Midwest and well-located Northeast, which offer a combination of value and appeal,” Realtor.com reported.
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There were no zip codes in the southern or western regions in the top 10.
“Buyer interest has shifted away from areas that are generally unaffordable, or have become less affordable as a result of significant price growth during the pandemic,” the website said.
Low prices weren’t always a factor, with a range in average prices from $155,000 to $967,000.
“While some buyers are looking for a deal in a particular area, others are less concerned about keeping the price down, whether they are moving from a more expensive area or because they are cashing in on their existing home equity and looking to upgrade,” according to Realtor.com. “Priceier markets can also be particularly attractive to high-income buyers looking to move from a bustling business center to somewhere with a more holistic appeal.”
Gahanna, Ohio, topped the Realtor.com list for the second year in a row.
Near Columbus, the area offers residents the amenities and quality of life benefits of a larger city, but at a lower price, according to Realtor.com. Attractions include The Ohio State University, the Short North Arts District and a “captivating food scene.”
Homes in the Gahanna zip code were priced about 11% below the metro average and 19.4% below the national median in the first half of the year.
Reporter Nick Butler of the Cherry Hill Courier-Post contributed to this story.
Reporter Ben Mace covers real estate, development and business news. Reach him at rrace@gannett.com.
This article originally appeared in Delaware News Journal: Wilmington area town on list of hottest real estate markets in the US
