62353, Mount Sterling, IL

The 62353 zip code of Mount Sterling, Illinois is located in the southeastern corner of the state. The area has a population of just over 10,000 and an average household income of just over $50,000. Home prices in this area have been increasing steadily for the past few years, reaching a peak in 2016 before slowly declining since then. At present, home prices are around $130,000 on average.

One reason why home prices have been increasing in this area is that there is a high demand for housing here. Mount Sterling is located within close proximity to major cities such as Chicago and Springfield, both of which have large populations and lots of job opportunities. Additionally, the area has many natural amenities that make it desirable for people who want to live in a rural setting but still be close to major metropolitan areas. These include beautiful forests and lakes, as well as plenty of recreational opportunities such as hiking and biking trails.

Another reason why home prices have been rising in this area is because there has been an increase in available credit options over the past few years. This has made it easier for people to get mortgages and purchase homes, especially given the low interest rates currently being offered by banks. In addition, the local economy has been doing well overall which has helped to boost property values even further.

Overall, it seems that there are several factors contributing to the steady rise in home prices in the 62353 zip code of Mount Sterling over recent years: strong demand from buyers; low interest rates; increased availability of credit; and good economic conditions overall. While these conditions may not last forever (and could eventually lead to a decline in house values), at present they seem to be supporting price growth very strongly indeed.