A new report by Realtor.com reveals the 50 hottest zip codes in the country for home buyers, based on factors such as affordability, location, and demand. Among them, two California cities made the cut: Livermore and Bakersfield.
Livermore: A hidden jewel in the Bay Area
Livermore, located in the Tri-Valley area of the San Francisco Bay Area, ranked 44th on the list, with a median listing price of $1.4 million. This was the highest-priced zip code on the top 50 list, but it also offered more value per square foot than the surrounding metro area. Homes in Livermore were priced 13.9% lower per square foot than the metro’s median in June, according to Realtor.com.
Livermore also attracted more than double the attention per property compared to the surrounding metro area, and homes spent more than a week less time on the market than the typical San Francisco metro home. The city boasts a vibrant downtown scene, surrounding wineries, and work-from-home policies that allow employees some flexibility in where they live.
Real estate professionals Leslie and Don Faught, who work in the East Bay, say Livermore is a “hidden jewel” that offers more competitive prices than its neighbor, Pleasanton. They say homes in Livermore are commanding about 12 offers on average, and there’s also been an uptick in cash buyers who are avoiding high interest rates.
Bakersfield: A rising star in Kern County
Bakersfield, located north of Los Angeles in Kern County, ranked 24th on the list, with a median listing price of $350,000. This was slightly higher than the national median of $349,000, but much lower than the state median of $818,000. Homes in Bakersfield were priced 28.6% lower per square foot than the metro’s median in June, according to Realtor.com.
Bakersfield also drew 1.8 times more attention per property compared to the surrounding metro area, and homes spent 11 days less time on the market than the typical Los Angeles metro home. The city offers a diverse economy, with sectors such as agriculture, oil, manufacturing, and aerospace. It also has a rich cultural heritage, with influences from country music, Basque cuisine, and Native American art.
Real estate agent Jared Cope, who works in Bakersfield, says the city is a “rising star” that offers affordability and opportunity for home buyers. He says homes in Bakersfield are receiving about six offers on average, and there’s also been an increase in out-of-town buyers who are looking for more space and less traffic.
The hottest zip code in the country: Gahanna, Ohio
The hottest zip code in the country, according to Realtor.com, is 43230, which covers Gahanna, Ohio. The city is located in the Columbus metropolitan area, which has been one of the fastest-growing regions in the Midwest. The median listing price for a home in Gahanna was $351,000 in June, which was slightly higher than the national median but much lower than other major metro areas.
Gahanna also attracted 3.2 times more attention per property compared to the surrounding metro area, and homes spent 17 days less time on the market than the typical Columbus metro home. The city offers a high quality of life, with excellent schools, parks, trails, and festivals. It also has a strong job market, with sectors such as finance, health care, education, and technology.
Real estate agent Ryan Reynolds, who works in Gahanna, says the city is a “great place to live” that offers value and convenience for home buyers. He says homes in Gahanna are receiving about 15 offers on average, and there’s also been a surge in demand from millennials who are looking for their first or second homes.