60401, Beecher, IL

The home equity and home prices in the 60401 zip code of Beecher, IL are reflective of the overall market conditions in the area. In general, home values have been on a steady decline since 2007, when they peaked at $217,000. As of September 2017, the median home value in this zip code is $130,000. This represents a decrease of over 33% from its peak value.

There are a number of factors that may be contributing to this trend. One reason may be that many homeowners in this area are aging and no longer able to maintain their homes as they once did. Additionally, there has been an increase in foreclosures and short sales over the past few years, which has made it more difficult for potential buyers to find quality properties.

Despite these challenges, there are still some homeowners who have been able to benefit from rising prices over the past few years. Those who bought property during or shortly after the housing boom may now see their homes worth significantly more than they paid for them. Conversely, those who purchased property recently may not yet see any appreciating value due to current market conditions.