We’d love to hear your thoughts on this one, Metro Detroiters.
You may not have long to wait before you receive a few offers if you’re looking to sell your house in Novi, Michigan. In fact, you may even find that you’ve sold your home in record time. According to Realtor.com’s Combined Hotness Index for the first half of 2015, the ZIP code in Novi, MI (48375), ranks the fifth hottest in the nation.
Here’s what they Realtor.com had to say:
Novi is near the General Motors Technical Center in Warren, the General Motors Proving Grounds in Milford, and the Ford headquarters in Dearborn. It’s also home to some of the region’s largest health care systems. It is centrally located with quick access to highways, the Detroit airport, and a re-emerging downtown Detroit. The Novi Community School District is also a major draw for this ZIP code. Unemployment here is 57% lower than in the rest of the metro area, and households headed by 25- to 34-year-olds earn a median income of $80,000.
In short, the schools are solid and it’s apparently also a place where the oft-talked about millennials do financially well. However, from experience, if you’re looking at the Realtor.com info and thinking living in Novi and is a short hop to downtown Detroit, know that it’s a 35 minute drive on a good day.
Realtor.com put the list of hottest ZIPs together by using its huge listings database to rank thousands of ZIPs. They were ranked based on two factors:
Demand – average number of times each listing is viewed
Supply – how fast homes sell (median age of inventory)
The hottest ZIPs outpace the national average by a factor of five in terms of short supply and strong demand. Homes in the to 10 ZIPs sell four to nine times faster than the national average. Listings are viewed three to eight times more often.
The ZIPs are scattered across the nation and tend to be more urban. Here’s the full list of top 10 ZIPs.
- Melrose, MA – 02176
- Worthington, OH – 43085
- Centennial, CO – 80122
- Plano, TX – 75023
- Novi, MI – 48375
- San Antonio, TX – 78247
- Crestwood, MO – 63126
- Austin, TX – 78729
- Fargo, ND – 58103
- Carlsbad, CA – 92010
Despite their various locations across the country, the top 10 ZIPs share some common factors that helped them climb to the top, says Realtor.com:
- They have strong local economies, or they’re growing economically.
- They have an average of 22 percent lower unemployment than their metro areas.
- A third of the households in the top ZIPs earn at least $100,000 a year. Nationwide, less than a quarter of households earn that much.
- They’re good for Millennials, who earn 50 percent more than the national average in these ZIPs.
- Median household income for the top 10 ZIPs is $71,000, 32 percent higher than the national average.