You can break down housing markets in a lot of different ways. You can do it by region. You can do it by city. You can even do it by neighborhood. So who is to say you can’t break it down by zip code? Certainly not Realtor.com, who recently compiled a list of the hottest zip codes for 2016 when it comes to housing markets.
We ranked the list based on the time it takes properties to sell and how frequently homes are viewed in each ZIP code. Homes in this year’s top 20 hottest markets sell in an average of 25 days – just over three weeks – 53 days faster than the rest of the country. Realtor.com® users view homes in these markets almost four times more often than homes in the rest of the country.
The 2016 hottest ZIP codes report underscores the role that large populations of millennials, the ability to purchase within expensive housing markets, as well as strong job markets and steady salaries play in the interest shown for these highly competitive locales.
The one local zip code to show up in their Top 50 was 98105, which encompasses University District, Laurelhurst, Bryant, Windermere, and the eastern half of Wallingford.
The zip code actually makes for a rather healthy mix of markets, which probably is the reason it ranks to highly. You’ve got high-end luxury neighborhoods (Laurelhurst, Windermere) mixed with strong single-family home neighborhoods (Wallingford, Bryant) and a solid base of millennials (U District). Realtor.com says millennials make up 24 percent of homeowners in 98105 and that 24 percent of those millennial households make over six figures.
Homes in 98105 usually sell within 21 days, which is 15 days faster than King County’s average and 9 days faster than the Seattle Metro average. The median price is $1,015,898, which is 243 percent higher than the Greater Seattle median price.