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eominster, a city in Central Massachusetts, has been gaining popularity among homebuyers due to its attractive real estate market. According to a recent report by Realtor.com, the 01453 ZIP code within Leominster was ranked seventh among the hottest single-family markets in the country. This ranking is published annually based on factors such as online real estate listings views and days spent on the market.
The high demand for homes in these ZIP codes led to an average increase of 7.4% in home prices compared to the national median listing price growth of 0.4%. Homes in these areas received between 2.9 and 5.2 times more views per property than the typical U.S. property, resulting in quicker sales.
In Leominster's ZIP code, single-family homes spent a median of 21 days on the market before closing during the first half of 2024. The median listing price for a single-family home was $462,000. According to The Warren Group, the median sale price for a single-family home in Leominster during this period was $450,500 across 106 sales, compared to $425,000 and 93 sales in the same time frame of 2023.
Real estate agent Kathleen Walsh attributes Leominster's appeal to several factors such as its proximity to Boston, easy access to highways, low prime rates, and affordability compared to other suburbs. Despite these positive developments, Walsh notes that the real estate market is still struggling due to high mortgage rates and low inventory.
As prices continue to rise in eastern parts of the state, Central Massachusetts has become more attractive to potential homebuyers from the Boston area who are unable to afford higher prices. Walsh notes that many people are willing to commute longer distances to find affordable homes.
According to Realtor.com's report, Gahanna, Ohio had the hottest ZIP code in the country during the first half of the year, with a median listing price of $345,000 and homes spending a median of 11 days on the market. Other top-ranked ZIP codes include those in Ballwin, Missouri; Salem, Massachusetts; Basking Ridge, New Jersey; Rochester, New York; and Mount Laurel, New Jersey.
