27405, Greensboro, NC

The 27405 zip code of Greensboro, NC is located in the southeastern part of the state and includes a population of around 210,000. The median home value in this zip code is $183,500 and the median home equity is $128,700. This means that approximately 47% of homes in this zip code are worth more than their original purchase price while 53% are worth less. In terms of home prices, Greensboro has seen some volatility over the past few years with values increasing by 5.5% from 2016 to 2017 and decreasing by 1.9% from 2017 to 2018. However, based on trends over the past 10 years there seems to be a general upward trend for home prices in Greensboro with an average annual increase of 2%.

One reason that home values have been increasing in Greensboro is that there has been an influx of new residents into the area who are able to afford higher priced homes. Additionally, many homeowners who have owned their homes for several years now have seen their values increase as well due to increased demand and limited supply within the local market. Another factor contributing to increased prices in Greensboro may be related to interest rates which have remained relatively low throughout much of 2018 compared to other areas across the country. As a result, many people who would have otherwise purchased a home elsewhere are choosing to invest their money into property here instead because they believe that it will continue to appreciate over time.

Despite these positive trends, there are also some challenges facing homeowners in Greensboro when it comes to buying or selling their homes. One issue is that there is not enough inventory available within the local market which can lead to high levels of competition among buyers and sellers alike – resulting in higher prices and shorter sales times than would be typical for other areas within North Carolina or nationwide. Additionally, although interest rates remain low at present time (making mortgages more affordable), they could potentially rise at any time which could impact negatively on homeowner’s equity levels if they were already carrying a significant amount of debt on their property (e.g., through mortgage payments).