- Zillow’s hottest market thus far this yr is Woodinville, Washington. Burke, Virginia and Highlands Ranch, Colorado spherical out the highest three.
- Each metropolis in Zillow’s newest 10-most-popular-markets listing is a suburban space roughly half-hour from the closest metropolis heart. Dwelling values are rising sooner in every of those suburbs than within the principal cities of their metro areas.
- Distant work is a key cause suburban house values are actually rising sooner than these in city areas as house patrons are prioritizing area and affordability over a brief commute.
Zillow’s hottest market of early 2022 is Woodinville, Washington, main a listing of fast-growing suburbs as essentially the most in-demand locations of the primary three months of the yr. Following shut behind have been Burke, Virginia, within the Washington, D.C. space; Highlands Ranch, Colorado, outdoors of Denver; Westchase, Florida, close to Tampa; and Edmonds, Washington, additionally within the Seattle metro.
The most well-liked markets thus far this yr paint an image of how distant work has modified the U.S. housing panorama. Demand for suburban houses discovered an additional gear final summer season, inflicting suburban house values to develop sooner than house values in city areas, a reversal from earlier norms and from the primary 15 months of the pandemic. Distant work is a driving pressure behind this shift, prompting house patrons to prioritize affordability and area over a brief commute.
The suburbs that beat out all others to make the highest 10 of Zillow’s hottest markets of Q1 are seeing house values develop sooner on a quarterly foundation than the principal metropolis of their metro space, indicating stronger demand. Most of them have costlier houses than their nearest main metropolis, and several other are considerably costlier. Eight of the highest 10 have a typical house worth increased than their close by principal metropolis, and 7 of these have a typical house worth greater than $150,000 increased.
Regionally, Havertown, Penn. outdoors of Philadelphia is Zillow’s hottest market within the Northeast, edging out 4 Boston suburbs: Billerica, Framingham, Waltham and Arlington. Within the central area, Ballwin, Missouri,. is joined within the prime 5 by Grand Rapids, Michigan, and three expensive Dallas suburbs: Coppell, Plano and Prosper. Denver suburbs dominated the mountain area, taking the highest eight spots in Zillow’s rankings.
Zillow’s Prime 10 Most Standard Markets of Q1 2022
- Woodinville, Washington (Seattle)
- Burke, Virginia (Washington, D.C.)
- Highlands Ranch, Colorado (Denver)
- Westchase, Florida (Tampa)
- Edmonds, Washington (Seattle)
- Yorba Linda, California (Los Angeles)
- Johns Creek, Georgia (Atlanta)
- Tustin, California (Los Angeles)
- Ballwin, Missouri (St. Louis)
- Golden, Colorado (Denver)
Analysis methodology
Zillow analyzed page-view site visitors, house worth development and for-sale stock for greater than 1,000 cities to give you a rating of the positioning’s hottest U.S. markets, factoring in indicators of house purchaser demand and common housing market exercise. Cities with fewer than 100 for-sale itemizing from January-March 2022 have been excluded.
The precise metrics analyzed have been:
- Yr-over-year and quarter-over-quarter house worth development, as of March 2022
- Common day by day web page views on Zillow per for-sale itemizing from January-March 2022
- Quarter-over-quarter development in common day by day web page views on Zillow per for-sale itemizing, as of March 2022
- Energetic for-sale listings per housing unit, as of March 2022
- Quarter-over-quarter development in for-sale listings, as of March 2022