A Rockford zip code ranks in top 50 for hottest housing market in the country
Rockford has landed on another top 50 list and it's for a good reason.
The city's 61107 zip code ranks 47th in Realtor.com's Hottest ZIP Codes Report.
The ranking measures two aspects of the housing market. The first aspect is the market demand, as measured by unique viewers per property on the website. The second is the pace of the market as measured by the number of days a listing remains active on Realtor.com.
The hottest areas are those that have high demand from buyers. In other words, lots of unique viewers per each property listed for sale, and fast-selling homes, an indicator of limited supply.
More: Low inventory, high demand causing Rockford area homes to sell at breakneck speeds
Earlier this summer, Conor Brown, CEO of NorthWest Illinois Alliance of Realtors, announced that homes in the Rockford area reach a historic high point with homes selling for just under $200,000.
Still, homes in the Rockford region cost far less than other homes in the state and around the country. In June, the median home price in Illinois was $291,945, which was 47% higher than the average sale price of a home in the Rockford region. Across the United States, the median existing-home price for all housing types in June was $410,200, the second-highest price ever.
While Rockford ranked 47th, this year's 10 hottest zip codes in the country all were located in either the Midwest or the Northeast.
The top 10 zip codes are in the following communities around the country:
43230, Gahanna, Ohio
06489, Southington, Connecticut
07450, Ridgewood, New Jersey
01810, Andover, Massachusetts
18064, Nazareth, Pennsylvania
46322, Highland, Indiana
48183, Trenton, Michigan
06851, Norwalk, Connecticut
14534, Pittsford, New York
63021, Ballwin, Missouri
For the first time in the history of the rankings, the South and West regions are not represented. High prices in the West and high price growth during the pandemic in the South are likely contributing to the shift.
More: Find out which community had the most expensive homes sold in July in the Rockford area
Rockford's $185,000 median home price for June 2023 was tied for the lowest on the top 50 with Mansfield, Ohio. Those two cities were the only ones whose median home price was listed below $200,000.
Rockford's 47th ranking was just behind Eau Claire, Wisconsin, and one spot ahead of Cincinnati.
Chris Green: 815-987-1241; cgreen@rrstar.com; @chrisfgreen
This article originally appeared on Rockford Register Star: Rockford's high housing demand is among the top 50 in the country
