07442, Pompton Lakes, NJ

The Pompton Lakes 7442 zip code is located in Morris County and has a population of about 25,000. Home prices in the 7442 zip code have increased significantly over the past few years, reaching an all-time high of $527,000 in December 2017. The average home price in the 7442 zip code has increased by more than $100,000 since 2016.

One reason for the increase in home prices in the 7442 zip code is that there are a lot of homes available for sale. The number of homes available for sale has decreased over the past few years, but this is likely due to strong demand from buyers rather than a lack of available homes. In addition, many homeowners who bought their homes several years ago are now able to sell them because they have increased their equity in their homes.

Another factor that has contributed to the increase in home prices in the 7442 zip code is low interest rates. Interest rates have been relatively low for a long time now and this has helped to increase homeowners' equity and make it easier for them to sell their homes. Low interest rates also make it more affordable for people to buy new homes or refinance their existing mortgages.

Overall, it appears that there are several factors contributing to the increase in home prices in the 7442 zip code over recent years: there are a lot of available homes for sale; interest rates are low; and homeowners' equity has increased due to low interest rates and other factors such as increasing wages. It will be interesting to see how these trends continue over time and whether or not home prices reach an all-time high once again