07627, Demarest, NJ

The 7627 zip code of Demarest, NJ has a median home value of $257,000 and a median home equity of $142,000. The home values in this zip code have increased by an average of 7.4% over the past five years.

Over the past year, there has been an increase in the number of homes for sale in this zip code. There are currently 101 homes for sale in this zip code, which is more than the number of homes that were for sale at this time last year (96). This indicates that there are more buyers interested in purchasing homes in this zip code than there are available homes for sale.

One reason why the number of homes for sale has increased is because many homeowners who have been waiting to sell their homes have decided to do so now that prices have increased. Additionally, many first-time homebuyers who were previously unable to afford a home now have enough money saved up to purchase one in this zip code.

Despite these positive trends, it is important to note that not all areas within the 7627 zip code are experiencing similar levels of growth. For example, while the median home value has increased by 7.4%, the median home equity value has only increased by 3%. This indicates that some homeowners who have invested more money into their homes than others are seeing larger increases in their equity values than those who haven't invested as much money into their properties.