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Looking for a home in Massachusetts? Hurry up if you’re looking in these three areas.
Three of the Bay State’s cities are among the 10 most desirable places to live in the country when it comes to selling a home, according to a new list from Realtor.com.
Salem ranked first among areas in Massachusetts and is the third hottest zip code in the country.
Leominster ranks 7th and Westfield ranks 8th on the list of hottest places to buy a home.
Learn why the cities are on the list and how Realtor.com compiled them.
Massachusetts metropolitan areas rank high on list of most desirable places to sell a home
The proximity of cities to large metropolitan areas is an important factor in their placement on the list.
“These areas are likely to appeal to buyers willing to pay for the right combination of size and amenities within commuting distance to the office,” the website says.
For example, the median asking price for homes in Salem is $625,000, while the median asking price for homes in the nearby Boston metropolitan area is $879,000.
The median asking price for homes in Leominster is $450,000, which is $100,000 less than the median asking price for homes in the Worcester metropolitan area.
Westfield is also close to Springfield, but the average price of homes in the city is $67,000 lower than in the metropolitan area.
What makes a zip code a popular place to buy a home?
Zip codes on the list of most popular places to buy a home are areas where homes have better value and don’t stay on the market long.
According to Realtor.com, homes in the hottest zip codes tend to be larger than the U.S. average while being priced at or below the U.S. median.
The website said it considered two factors when compiling the list: market demand, measured by the number of unique visitors per property on the site, and market momentum, measured by the number of days a listing remains active on the site.
