61315, Bureau, IL

In the Bureau, IL 61315 zip code, home equity and home prices are both on the rise. According to Zillow, the median home value in this area is $158,900. This is up from $153,100 in 2016. Additionally, the percentage of homes sold for more than their original purchase price has increased from 5% in 2016 to 9% in 2017. This indicates that there are a lot of people who are benefiting from rising home values in this area.

One reason why home values have been increasing so much in this area is because of the low interest rates that are currently being offered by lenders. In addition, there is a lot of demand for housing here because of the strong economy and job market. Many people who live in Bureau, IL 61315 zip code are able to afford homes that they would not be able to buy if interest rates were higher or if there was less demand for housing.

Another reason why home values have been increasing so much in this area is because of the low supply of homes available for sale. There has been an increase in construction activity over the past few years, but not enough new homes have been built to meet demand. This means that there are a lot of homes available for sale right now and buyers can get good deals if they are willing to wait awhile for their desired property to become available.