Melrose named one of realtor.com’s ‘hottest ZIP codes’ (again)
Realtor.com released its annual list of the nation’s “hottest ZIP codes” on Wednesday, and Melrose’s 02176 snagged the seventh spot. It occupied the same place in 2016, after dropping from number one the year before.
Homes in 02176 sell in an average 18 days — 39 days ahead of the national average, according to a realtor.com press release. While the area’s $629,050 median listing price is down 1.7 percent from last year, it’s more than three times above that of the number one ZIP code in Grand Rapids, Michigan, where homes are listed at a median price of $178,050.
Millennials make up 43 percent of Melrose’s new mortgages, and many of them are high-earners for their age group. Realtor.com found that while the national median millennial income is $62,280, it’s $98,803 in this Massachusetts market.
To put together this list, the site considered page views, time on the market, median home list prices, mortgage statistics, employment and population growth figures, and household incomes of 16,000 ZIP codes in the country. To be included, ZIP codes needed a minimum of 12 listings per month, and only one ZIP code from each metro was included.
The North Shore town was joined by Goffstown, New Hampshire, ZIP code 03045, which ranked ninth.
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