29063, Irmo, SC

Irmo, SC is located in the Charleston-North Charleston-Summerville metropolitan area. The zip code of 29063 has a population of approximately 26,000 and an average home value of $153,000. Home equity is a key factor in the economy and home prices are one indicator of this.

Home equity is the difference between what a homeowner owes on their home and its market value. It can be used as collateral for loans or to purchase other assets. Home prices have been increasing steadily over the past several years in Irmo, SC due to strong demand and limited supply. In December 2017, the average home price was $156,500 which was up from $152,000 in December 2016. The median home price was also up from $147,500 to $148,000 during this time period.

There are several factors that contribute to increased demand for homes in Irmo including population growth (especially among younger adults), low interest rates, and limited availability of properties for sale. There are also many new developments being built which is contributing to increased demand for homes overall. While there are some areas of the country where prices have been increasing more rapidly than others (such as coastal areas), Irmo has seen consistent growth over the past few years which indicates that it is a stable market with good potential for future growth.