08055, Medford, NJ

Medford, NJ is located in the 8055 zip code. Home prices in this zip code have increased significantly over the past few years. In March of 2016, the median home price was $269,000. This year, as of September 2017, the median home price has increased to $291,500.

One reason for this increase in home prices may be due to the strong economy and low interest rates. Additionally, Medford is a desirable location with many amenities and good schools. The population of Medford has also grown over the past few years which could also contribute to higher home prices.

While there are many factors that contribute to increases in home prices, one important factor is demand from buyers and sellers. If there are more buyers than sellers available for a particular property type or neighborhood, then the price of that property will go up. In addition, if there are more people looking to buy homes than there are available homes for sale (due to rising home values), then prices will go up even more because it becomes harder for buyers to find a suitable house at a reasonable price.