50214, Otley, IA

The 50214 zip code of Otley, IA, has a median home value of $147,500 and a median home equity value of $101,000. This means that the majority (approximately 66%) of homes in this zip code are worth more than their original purchase price. Additionally, the average home value growth rate for this zip code over the past five years has been 5%. This indicates that there is strong demand for homes in this area and that prices are likely to continue to rise.

Given these positive trends, it is not surprising that the number of homes sold in the 50214 zip code has increased by 21% over the past year. In addition, there have been a total of 134 sales transactions in this zip code so far in 2018 compared to 122 sales transactions during all of 2017. Clearly, there is strong demand for properties in this area and buyers are willing to pay a premium for properties located here.

While Otley is definitely experiencing strong market conditions right now, it is important to keep in mind that conditions can change quickly in any given market. For example, prices could decline if there are any unforeseen economic or political events that impact the local economy. So while buying property in Otley may be a good idea right now, you should always consult with an experienced real estate agent if you have any doubts about whether or not buying property here is the best decision for you personally.