Zip Code:

14804, Almond, NY

14804 is a New York Zip code within the city of Almond and the county of Allegany. Its population is roughly 1,435.

The Real Estate Market in the 14804 Zip Code of Almond, New York

The 14804 zip code of Almond, NY has a median home value of $236,000. This means that the typical home in this zip code is worth more than two and a half times the median household income. In addition, the average home in this zip code has been on the market for over four months, which is significantly longer than the national average of just over three months. These high home values and lengthy waiting periods may be indicative of the strong demand for homes in this area.

Despite these high values, there are still a number of homes available for purchase in the 14804 zip code. The inventory of homes for sale has decreased by 3% since last year, but it is still higher than what is typically seen during slower market periods. This indicates that there are still plenty of buyers interested in purchasing homes in this area.

One potential reason why there are still so many homes available for purchase could be due to the recent surge in home equity values. Since 2007, home equity values have increased by an astounding 119%. This increase has helped to fuel demand for homes throughout the country and may continue to do so into future years.

In addition to increasing demand from buyers, another factor that could be contributing to high home values and long waiting periods is low interest rates. Since 2007, interest rates have been at historic lows which has made it more affordable for people to borrow money to buy a house. Low interest rates may also encourage people who are currently renting to buy a house instead since they can afford it with less money down payment than they would need if they were borrowing money from a traditional lender.

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