11542, Glen Cove, NY

The 11542 zip code of Glen Cove, NY has a median home value of $1,895,000. This is a decrease from the previous year when the median home value was $2,050,000. The average list price for homes in this zip code is $1,995,000. The percentage of homes sold in this zip code is 73%.

There are many factors that affect home prices and home equity. Some of these include interest rates, inventory levels and location. In general, the more expensive the area where a home is located and the higher the interest rate on mortgages in that area, the lower the value of a home will be. Additionally, if there are not enough homes available to purchase or if they are too expensive to buy outright, buyers may choose to purchase mortgage-backed securities (MBS) instead which gives them access to a loan but does not give them ownership of the property. This can lead to increased demand for MBSs and decreased demand for properties which can drive up prices even further.

Another factor that affects prices is whether or not there has been an increase or decrease in population within a given area over time. If there has been an increase in population then there will be more people looking to buy and sell homes which will lead to increased demand and higher prices; however if there has been a decrease in population then there will be less people looking to buy and sell homes which will lead to decreased demand and lower prices.

In addition to these general market trends homeowners also have their own individual motivations for purchasing or selling their homes including wanting more space or wanting better access to transportation or schools for their children. Furthermore some people may choose to move because they are unhappy with their current living situation or because they believe that their property values will continue to rise even though they are no longer living in it.

Overall it seems that although Glen Cove's median home value decreased by 2% from 2016-2017 it still remains above average when compared against other areas within Nassau County as well as New York State as a whole