A Maine ZIP code ranks in 50 ‘hottest’ for home buyer interest, and is also among priciest
Photo / Peter Van Allen
The ZIP code 04074, which covers Higgins Beach and the rest of Scarborough, ranks among the nation's 50 "hottest" in home buyer interest.
Scarborough has long been popular with home buyers, and a new ranking by Realtor.com shows how much — the town's ZIP code ranks No. 34 among those nationwide with the "hottest" demand for residential real estate.
Among ZIP codes in New England, the Scarborough digits, 04074, rank No. 9. Four ZIPs in Connecticut and four in Massachusetts rank higher.
Realtor.com's annual rankings evaluate "hotness" in the country's ZIP codes according to two criteria: demand, as measured by viewers per property listing on the website, and how fast homes sell, as measured by the length of time a listing remains active. This year's rankings were based on data from January to June.
The top 50 ZIP codes, announced Thursday, were limited to one per metropolitan area. There are roughly 42,000 ZIP codes in the United States.
Scarborough ranks just below a ZIP code in Chattanooga, Tenn., and just above one in Jefferson City, Mo. The rankings show homes in 04074 had nearly three times the viewers of the average listing in the U.S., and the Scarborough properties remained on the market for an average of 33 days.
But there's some bad news for Maine buyers. Among the Hot 50, Scarborough's ZIP ranks as the sixth-most expensive, with homes going for a median sales price of $700,000.
The more expensive ZIP codes among the Hot 50 are in Ridgewood, N.J. (which ranks No. 3 for hotness, with a median sales price of $918,000); Andover, Mass. (No. 4, $1.12 million); Norwalk, Conn. (No. 8, $749,000); Shrewsbury, Mass. (No. 22, $727,000); and Livermore, Calif. (No. 44, $1.41 million).
The median sales price is the amount at which half the homes are selling for a higher price and half are selling for less.
The hottest ZIP code in the U.S. is 43230 in Gahanna, Ohio, a suburb of Columbus. Realtor.com viewers flocked to listings there at a rate 4.5 times the national average, and homes stayed on the market for an average of 13 days. The median sales price in Gahanna is $351,000.
Only communities in the Northeast and Midwest made this year's list of 50, the first in the list's history that included just two regions of the U.S. In 2017 the South and West accounted for more than half of the hottest ZIPs, according to Realtor.com. Its report noted that high prices in those regions are likely contributing to the shift.
Last year, two Maine ZIP codes — in Auburn and Windham — made the Hot 50.
For the complete 2023 rankings, click here.
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