62864, Mount Vernon, IL

The home equity and home prices in the 62864 zip code of Mount Vernon, IL are reflective of the overall market conditions in the area. The median home value in this zip code is $137,000, which is lower than the statewide median home value of $217,500. Additionally, the percentage of homes that are owner-occupied is lower than the statewide percentage of owner-occupied homes at 63%. This suggests that there may be more rental properties available in this zip code than there are homeowners.

Despite these market conditions, there have been a few notable increases in home values over the past year or so. For example, one house that recently sold for $157,000 was previously listed for sale for $130,000 just a few months ago. Similarly, another house that recently sold for $142,500 was previously listed for sale for just under $100K. These increases may be indicative of an improving economy in Mount Vernon or they could simply be due to increased demand within the local market.

Overall though, it seems likely that prices will continue to trend downward over time as more and more homeowners enter into foreclosure and fewer properties come up for sale. This could lead to some serious competition among buyers looking to purchase property within this zip code and could drive prices down even further.