08723, Brick, NJ

The 8723 zip code of Brick, NJ has a median home value of $222,000 and a median home equity value of $137,000. This means that the majority of homes in this zip code are worth more than their original purchase price, but there are also a significant number of homes that are worth less than their original purchase price.

In terms of home prices, the Brick area has seen moderate growth over the past few years. Between January 2013 and January 2017, the median home value increased by 7.5%. However, during the same period of time, the average national increase was 10.8%. This suggests that while prices in Brick have increased modestly over time, they are still relatively affordable when compared to other areas in New Jersey and nationwide.

One reason why prices in Brick may be comparatively low is because there is a high percentage of single-family homes in this zip code. As a result, there is limited opportunity for property appreciation due to increasing demand from buyers and investors alike. Additionally, many homeowners in this area may be able to afford higher mortgage rates due to their strong equity levels.

Overall, while there may be some challenges facing home values in Brick right now due to modest growth or affordability concerns specific to this area, it appears that overall prices will continue to rise over time as long as current market conditions remain stable or improve.