13664, Morristown, NY

The 13664 zip code of Morristown, NY has a median home value of $205,000 and a median home equity value of $128,000. The Morristown area has seen a steady increase in home values over the past few years. In 2014, the median home value was $190,000 and the median home equity value was $116,000. In 2015, the median home value increased to $205,000 and the median home equity value increased to $128,000. This trend is expected to continue as more people move into the Morristown area and invest in property there.

There are many factors that contribute to the increase in home values in Morristown. One reason is that there is a high demand for housing in this area due to its proximity to major cities like New York City and Albany. Additionally, Morristown has many amenities that make it an attractive place to live such as excellent schools and access to shopping and entertainment venues. Finally, investors are attracted to Morristown because of its low crime rate and strong economy.

Despite these positive trends, there are some challenges that homeowners in the 13664 zip code face when it comes to buying or selling their homes. One issue is that prices have been increasing faster than wages over recent years which makes it harder for people who do not have a large down payment or who do not have excellent credit ratings to purchase a house in this area. Additionally, there is limited inventory available on the market which can lead to long wait times for buyers interested in purchasing a house in this area.