60047, Lake Zurich, IL

Lake Zurich is a small town located in northern Illinois. The 60047 zip code covers the western part of the town and has a population of about 10,000 people. The median home value in this zip code is $269,000 which is about average for the area.

The Lake Zurich area has seen steady growth over the past few years. In fact, according to Zillow, the median home value in this zip code increased by 5% from 2016 to 2017. This growth can likely be attributed to both strong demand and limited supply in the area.

One factor that could limit future growth in this market is that there are already quite a few homes for sale here. As of May 2019, there were 1,829 homes for sale in this zip code which is significantly more than what was available just two years ago (in May 2017 there were 1,527 homes for sale). This suggests that buyers are already starting to feel confident about buying homes here and may not be as eager to invest in new construction projects.

Despite these limitations, it seems likely that home prices will continue to rise in the 60047 zip code over time. This is due both to strong demand and limited supply – as more people become interested in buying homes here, fewer will be available on the market at any given time (due to zoning regulations etc.), which will drive up prices even further.