PEABODY, Mass. — If you’re looking to buy a home in Massachusetts, one North Shore city may be one of the most competitive places to search.
Peabody earned the No. 1 spot this year based on buyer demand and how quickly homes sell, after also ranking in the top 10 in 2018 and 2021, according to Realtor.com’s annual ranking of the nation’s hottest ZIP codes,
The real estate website found that though Peabody’s median listing price reached $667,000 in June, more than $230,000 above the national norm, it remained nearly 20% below the Boston metro average.
Listings in Peabody also typically spend just 20 days on the market before being snapped up by buyers for a bit over asking price, according to the website.
Experts say several factors are driving the city’s popularity, including its vibrant downtown, convenient access to major highways such as Interstate 95, Route 128, and Route 1, and its relatively low tax rate compared to other North Shore communities.
Westfield, Massachusetts, also ranked as the fifth hottest ZIP code in America. New Haven, Connecticut, was the only other New England city to rank inside Realtor’s top 10.
The ranking highlights the continued demand for homes in the region despite affordability challenges facing many buyers.
For sellers, the designation signals a strong market with homes moving quickly. For buyers, it means competition remains fierce in one of the state’s most sought-after communities.
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