24614, Grundy, VA

The 24614 zip code of Grundy, VA has a median home value of $145,000. The home equity in this zip code is $86,000. This means that the majority of homes in this zip code are worth more than their original purchase price. Additionally, the average home price in Grundy has increased by 5% over the past year.

There are a number of factors that could be contributing to the increase in home prices in Grundy. One possibility is that there is strong demand for housing in this area due to its proximity to major metropolitan areas such as Washington D.C., Richmond, and Charlottesville. Additionally, Grundy is located within a desirable commuter zone which could also contribute to increased demand for homes here.

Despite the increase in home prices, many homeowners in the 24614 zip code still have considerable equity in their homes. This means that they can still borrow against their homes if they need to finance a purchase or make other large investments. Additionally, homeownership rates remain high in Grundy which could help keep demand high for housing here even if prices rise slightly over time.