61376, Walnut, IL

There are many factors that affect home prices, including the availability of homes for sale, interest rates, and local economic conditions. In Walnut, IL, the median home price was $139,900 in January 2019. This is up from $128,500 in January 2018. Over the past year, the median home price has increased by 2%.

One factor that has contributed to this increase in home prices is the low supply of homes for sale in Walnut. There were only 58 homes available for sale at the beginning of 2019 compared to 73 homes available at the beginning of 2018. This lack of inventory has driven up prices and made it difficult for buyers to find a suitable home.

Another factor that has contributed to the increase in home prices is interest rates. The Federal Reserve raised interest rates twice in 2018-19 which caused mortgage rates to rise. This increased cost of borrowing makes it more expensive for buyers to purchase a home and increases the value of their existing equity holdings.

Despite these increases in home prices, there are still many opportunities available for buyers in Walnut. The population growth rate is below average which means that there are still plenty of potential homes available for purchase. Additionally, there are a number of affordable housing options available within Walnut as well as nearby towns such as Naperville and Lisle.