Everyone knows that the key to buying and selling real estate is based on the three most important elements which are location, location, location. But, seriously, have you wondered what the top selling zip codes for real estate are? According to Forbes magazine the top selling zip code in the United States is 94065 which is Redwood City, California not far from the hustle bustle of San Francisco. Listings in this area code are only on the market for an average of 40 days and the median home price there is just over a million dollars.
The other zip codes in the top five fastest real estate selling zip codes in the country include: 11538 which is Woodmere, NY, 33146 which is Coral Gables, FL, 94303 Palo Alto, CA and 11021 which is Great Neck, NY. Each of these zip codes averages just 66 days on the market compared to the current industry average of 115 days.
According to experts, these fast selling zip codes are moving quickly for a variety of reason including their desirable locations, dramatic price drops and the fact that unmotivated sellers are simply removing their homes from the market so they don’t advise interpreting these statistics as a sign that the market is starting to turn around. Still, it is encouraging to see such high-priced real estate moving and to learn that the average home sells in just under 4 months which is much better than the belief that many people have which is that real estate just isn’t selling right now.
The truth is that there is always a market for real estate, it just has up cycles and down cycles. No matter where we are in the cycle and where you live there is always hope to sell your home or buy a home that is right for you. You may or may not be interested in living in the top selling zip codes in the country right now, but if you are looking to buy or sell a home it is important that you contact an experienced realtor that knows your area and can help you make the most of your home so you can sell it quickly and profitably.
While million-dollar mansions may always be moving quickly on the market, not everyone can live in just those few zip codes (although residents there may feel like people are trying). Whatever your location, chances are that someone, somewhere will want to buy your home as long as you choose a realtor that knows how to market what you have.