September 3, 2020
South Portland is one of the country's hottest zip codes in 2020
According to a new report from Realtor.com, South Portland is one of the hottest zip codes in 2020! Each year, Realtor.com analyzes over 16,000 zip codes to see how quickly homes are selling and how many views listings receive in each. In the top 10 zip codes, the east coast was overwhelmingly dominant, snagging seven spots and New England individually had a strong showing, too. South Portland came in at #5!
The other New England zip codes who made the top 10 lis were Melrose, MA (#4), Hudson, NH (#7), and Worcester, MA (#8). So, how did the hottest zip codes in 2020 perform compared to others? Among other stats, views per property in the top zip codes were up 48% year-over-year. Additionally, views were 2.2 times as high as surrounding metro areas and 4.3 times as high as the national average.
Even through the national market has experience a slowdown due to COVID-19, the top 10 zip codes all sold, on average, much higher than the national (51 days faster) and surround metro area rates (27 days faster).
So what makes people flock to areas such as South Portland. Well, besides being a beautiful town in the gorgeous state of Maine, South Portland has some of the important market factors listed by Realtor.com- easy access to amenities, outdoor space, affordability, and overall economy. As we have seen, there is an increased number of home buyers lately and South Portland's numbers have continuously been strong before and during the pandemic.