21787, Taneytown, MD

The 21787 zip code of Taneytown, MD is located in central Maryland and has a population of approximately 9,000. Home prices in the 21787 zip code have increased by an average of 10% over the past five years. The median home price in the 21787 zip code is $157,500 and the median mortgage loan amount is $130,000.

The majority of home buyers in the 21787 zip code are first time homebuyers. The majority of home sellers are retired couples who want to downsize or move to a more affordable location. There is a strong demand for single family homes in the21787 zip code but there is also strong demand for townhomes and condominiums.

There are several factors that have contributed to the increase in home prices in the21787 zip code over the past five years: low interest rates, increasing demand from both buyers and sellers, and limited supply of homes available for purchase. Low interest rates have made it easier for buyers to afford homes and has encouraged them to enter into longer term mortgages rather than take on high interest rate loans that would be more difficult to pay off over time. Additionally, increasing demand from both buyers and sellers has driven up prices as there are not enough homes available for sale to meet this demand. Finally, limited supply has led to higher prices as there are fewer homes available for purchase than would be desired by potential buyers if more were available on the market.