Whether we’re talking about rising property taxes, soaring home insurance rates or the extreme lack of affordable housing, the general topic of all things real estate is as hot as the sweltering summer we’re currently locked in.
In fact, two North Texas ZIP codes are especially hot for real estate right now. According to a recent study by Realtor.com the cozy suburbs of Bedford and Flower Mound have the 37th and 40th hottest ZIP codes for real estate, respectively, in the United States.
That’s some pretty serious heat, given that there are more than 41,000 ZIP codes in the nation.
Our 2024 Hottest Zip Codes of 2024 report is here! 👀
— Realtor.com (@realtordotcom) August 20, 2024
Homes in the hottest zips saw 3.7x the page views per property on avg and homes sold more than a month faster compared to the typical U.S. home in the first half of '24 🔥
📝 Get the full report: https://t.co/kBUjhuzIWB pic.twitter.com/CyTYEStIfo
To determine the rankings, the real state website noted the results “are based on an algorithm that takes into account two aspects of the housing market: 1) market demand, as measured by unique viewers per property on Realtor.com, and 2) the pace of the market as measured by the number of days a listing remains active on Realtor.com.”
Gahanna, Ohio’s 43230 ZIP landed the top spot in the survey for the second year in a row. It’s quite the seller’s market up there, with homes staying on the market for only a median 11 days. Homes in the Bedford 76021 ZIP, just north of where State Highways 183 and 121 meet, were on the market for a median of 25 days, with a median listing price of $425,000.
In Flower Mound, the 75028 ZIP came in with a median of 28 days on the market and a median listing price of $584,000. Situated just north of Grapevine Lake, the tony town of Flower Mound is home to Bridlewood Golf Club.
Realtor.com noted that many of the hottest ZIPs featured high home ownership rates as well as locations very near large metropolitan cities. Perhaps the key finding in this year’s survey, however, is that stiff competition has led to older buyers and higher sale prices.
“Fierce competition in the hottest zip codes has quickened the market pace and put pressure on buyers,” the study noted. “Homes spent an average 13 days on the market in the hottest zips in June, more than a month (-32 days) less than the national median. The high-stakes environment in these areas means that successful buyers are well-qualified and well-equipped to purchase a home.”
