49868, Newberry, MI

The 49868 zip code of Newberry, Michigan is located in the southeastern corner of the state. The zip code has a population of just over 10,000 people and an average household income of just over $50,000. Home prices in the 49868 zip code have been increasing steadily for the past few years, reaching a peak in 2017 before beginning to decline slightly in 2018. As of July 2019, the median home price in the 49868 zip code is $269,900.

One reason that home prices have been increasing steadily in the 49868 zip code is that there are a lot of homes available for sale. Over the past few years, there has been a large influx of new residents into this area, which has led to an increase in demand for homes. Additionally, many homeowners who have already purchased homes in this area are able to keep them on the market for longer periods of time than would be normal elsewhere due to low interest rates and strong economic conditions.

Despite these positive factors, there are some risks associated with buying a home in the 49868 zip code. One risk is that interest rates could rise significantly and make it more difficult for homeowners to afford their mortgages. Another risk is that housing prices could decline significantly if economic conditions change or if new development projects are not approved by local authorities.