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Ridgewood Makes Top 10 List: Suburbs Make a Comeback as Hottest Real Estate Markets

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photo courtesy of Boyd Loving

the staff of the Ridgewood blog

Ridgewood NJ, as the landscape of remote work shifts once again, traditional suburban areas are reclaiming their status as sought-after real estate markets. The allure of Zoom towns, once celebrated for their remote work-friendly environments, is fading as the return to in-person work prompts homebuyers to prioritize affordability and proximity to major cities.

In a significant shift from recent trends, suburbs surrounding five major metropolitan areas – Boston, New York, Chicago, Detroit, and St. Louis – have emerged on Realtor.com’s annual list of Hottest ZIP Codes and Ridgewood 07450 came in 3rd nationwide .This resurgence reflects a renewed interest in homes with commutes, signaling a return to pre-pandemic housing preferences.

Zoom towns, characterized by their rural charm and remote work appeal, are losing their appeal as employers gradually recall workers to office settings. Homebuyers, faced with limited inventory and rising mortgage rates, are now gravitating towards areas offering affordability relative to the national average or greater value in terms of space and amenities.

The top 10 Hottest ZIP Codes in America present homes priced at or below the U.S. median, or boasting larger dimensions compared to the national average. Properties within these ZIP codes receive significantly more views per listing and sell approximately one month faster than the national average, according to Realtor.com’s data from January to June 2023.

Danielle Hale, chief economist for Realtor.com, notes the diverse appeal of this year’s list, which includes both affordable markets and higher-priced areas near urban cores. These locations cater to buyers seeking a balance between size, amenities, and proximity to city centers.

The Hottest ZIP Codes rankings take into account market demand, measured by unique viewers per property, and market activity, indicated by the duration of listings on Realtor.com. This shift underscores the evolving dynamics of the real estate market as buyers adapt to changing work and lifestyle preferences in a post-pandemic world.

1. 43230, Gahanna, Ohio

Views per property vs U.S.: 4.5.

Median days on market: 13.

Median listing price: $351,000.

2. 06489, Southington, Connecticut

Views per property vs U.S.: 5.7.

Median days on market: 18.

Median listing price: $368,000.

3. 07450, Ridgewood, New Jersey

Views per property vs U.S.: 3.3.

Median days on market: 18.

Median listing price: $1,184,000.

4. 01810, Andover, Massachusetts

Views per property vs U.S.: 3.3.

Median days on market: 19.

Median listing price: $992,000.

5. 18064, Nazareth, Pennsylvania

Views per property vs U.S.: 3.4.

Median days on market: 18.

Median listing price: $429,000.

6. 46322, Highland, Indiana

Views per property vs U.S.: 2.9.

Median days on market: 19.

Median listing price: $268,000.

7. 48183, Trenton, Michigan

Views per property vs U.S.: 3.1.

Median Days on market: 20.

Median listing price: $238,000.

8. 06851, Norwalk, Connecticut

Views per property vs U.S.: 2.9.

Median days on market: 23.

Median listing price: $596,000.

9. 14534, Pittsford, New York

Views per property vs U.S.: 3.5.

Median days on market: 21.

Median listing price: $595,000.

10. 63021, Ballwin, Missouri

Views per property vs U.S.: 3.1.

Median days on market: 23.

Median listing price: $353,000.

 

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13 thoughts on “Ridgewood Makes Top 10 List: Suburbs Make a Comeback as Hottest Real Estate Markets

  1. Thank God. Something has to keep our home value up and it’s not this council!

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    1. Post of the day!

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  2. There are so many great towns around Ridgewood. Yes Ridgewood is nice, but there’s better. It’s no more village. It’s becoming a little city not for the better, and look at your taxes.

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    1. Definitely not a village

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    2. our taxes are cheaper than glen rock

  3. Number one is Gahanna, Ohio? Where do they get this stuff and why would anyone believe it?

    1. Suburb northeast of Columbus

  4. Definitely we have lost our charm of being a village. So sad for those of us you have lived here for a long time. The over development of housing and the garage certainly took away the quaintness

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    1. Agree

  5. Wyckoff is a better of town

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    1. If you prefer the ambiance of a mall shopping center as your ‘downtown’

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  6. great to see, GO RIDGEWOOD!!!!

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  7. If the Zoning Board votes the billboard in, we will be able to advertise how great Ridgewood is on the actual billboard as people drive by. When you have a mayor and majority block council who care only about the central business district, building that the mayor owns or where he has a vested interest, associates with questionable characters (allegedly) then this is what you are going to get. Do you think there are any back door convos happening about how to turn the village into a mini city with the glowing lights of vegas and fields where people can play 24/7.

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