A coveted Colorado hamlet is now the most active real estate market in the U.S.
Move over, Beverly Hills, 90210—America has a new hottest zip code: 80916, in Colorado Springs is the most in-demand area for real estate, according to a new report from Realtor.com.
Properties in 80916 spent an average of just four days on the market before selling, compared to 33 days nationwide, according to Realtor.com.
“Real estate is just selling like crazy,” Berkshire Hathaway Synergy Group realtor Linda Leiss Landry said in a release. “We’re in one of the most popular areas to move to right now.”
The median price for homes in this southeast slice of the Centennial State suburb is $318,000. That’s significantly lower than the $472,050 median for all of Colorado Springs, but represents a massive 20% uptick since last year—much of it fueled by buyers from California and Texas.
Realtor.com examined 29,000 zip codes nationwide during the first six months of 2021 and ranked them based on how quickly homes sold, along with how frequently listings were viewed online. (Another Colorado Springs zip code, 80911, took the top spot in 2020.)
The houses in 80916 are older (built in the 1970s and ’80s), cheaper, and more modest than others in the region. But Re/Max agent Robert Crawford told the Colorado Springs Gazette the southeast Springs area, about 75 miles south of Denver, is popular with military families looking for an easy commute to nearby Fort Carson. (Colorado Springs Airport and Peterson Space Force Base are both 10 minutes away, and Lockheed Martin and Northrop Grumman are nearby too.)
And 80916 is also popular with national corporate buyers, like Home Partners of America, who snatch up properties and lease them to tenants with an opportunity to buy.
Realtor.com’s other top zip codes were geographically diverse, although many were located in New England—including two each in Massachusetts (01960 in Peabody and 01757 in Milford) and New Hampshire (03301 in Concord and 03103 in Manchester).
“By definition, the zips that make our annual hottest report are very competitive, but this year, they are white-hot,” Realtor.com chief economist Danielle Hale said in the release. "Homes in this year’s zips are under contract in less than a week, which is three times faster than the contract times for last year’s hottest markets.”
Rounding out the list at number 10 was 37067 in Franklin, Tennessee—a bit of an outlier: It’s in the South, about 20 miles outside Nashville, and represented the most expensive zip code on the rankings.
Median prices for homes reached $847,000 in the first half of 2021, compared to $907,500 for all properties in the city limits.
Listing prices in Franklin are up more than 30% from last year. Realtor.com touts the town’s bucolic rolling hills, top-rated schools, and lower property taxes as a lure “for families and more established professionals.”
Homes are turning around in a head-spinning five days. “There’s so little inventory that so many homes sell off-market before they even hit Realtor.com,” said Angela Wright, a Compass broker who represents properties in the area.
“Everything is in a multiple-offer scenario,” Wright adds. “It’s stressful for the buyers, and it’s stressful for the sellers because they’re getting 20 offers.”
Realtor.com’s Top 10 Hottest Zip Codes of 2021:
80916, Colorado Springs, Colorado
14617, West Irondequoit, New York (Rochester)
01960, Peabody, Massachusetts (Boston)
03103, Manchester Proper, New Hampshire (Manchester)
27616, Brentwood, North Carolina (Raleigh)
43228, Lincoln Village, Ohio (Columbus)
01757, Milford, Massachusetts (Worcester)
03301, Concord Proper, New Hampshire (Concord)
48336, Farmington, Michigan (Detroit)
37067, Franklin, Tennessee (Nashville)
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