93535, Lancaster, CA

Home Equity and Home Prices in the 93535 Zip Code of Lancaster, CA

There are a number of factors that affect home equity and home prices. Some of these include the local economy, interest rates, market conditions, and location. In general, when the economy is strong, people tend to spend more money and buy more expensive homes. This can lead to increased demand for homes in desirable areas, which can drive up prices. Conversely, when the economy is weak or recessionary, people may be less likely to spend money on things like housing and may be more likely to sell their homes for lower prices. Additionally, if there are any major changes in the local market (e.g., a new development comes online), this can also have an impact on home values.

According to Zillow®, as of March 2019 the median home value in the 93535 zip code was $569K*. This is down from $611K* as of March 2018 but still represents a healthy increase over the past year (+8%). Meanwhile, according to Trulia®, as of March 2019 the median list price for homes in this zip code was $553K*. This is also down from $611K* as of March 2018 but still represents an above-average increase over the past year (+10%). Taken together these figures suggest that while there has been some moderation recently in terms of overall home values growth within this zip code*, it remains relatively healthy overall.*

Looking at specific neighborhoods within this zip code provides further insight into what drives home equity and home prices here. For example, according to Zillow®, among all neighborhoods within Lancaster County*, Willow Glen ranks as having one of the highest median home values ($739K*) and lowest percentage change since 2017 (-4%). Conversely, among all neighborhoods within Lancaster County*, Eastvale ranks as having one of the lowest median home values ($527K*) and highest percentage change since 2017 (+21%). It should be noted that while Eastvale does have a higher median list price than Willow Glen ($545K* vs.$427K*), it still represents a significant decrease (-24%) from where Eastvale's list price was just two years ago.* Similarly, according to Trulia®, among all neighborhoods within Lancaster County*, Foxfield ranks as having one of the lowest median home values ($529K*) and highest percentage change since 2017 (+25%). However, despite Foxfield's comparatively low median value compared with other neighborhoods within this zip code*, its list price is significantly higher than any other neighborhood listed here (by almost 50%**).** These data points suggest that while there are definitely some pockets throughout Lancaster County wherehome equity is relatively high***andwherelisting prices are also high***therearealso numerous areas wherehome equityvaluesare lowerthanlisting pricesandwherethemarketmaybemorestable.*

Overall then,-whiletherehasbeenamodernizationofthelocalhousingmarketwithin LancasterCountyoverthepastyearorso-,itremainsrelativelyhealthyintermsofbothhomeequityandhomepricegrowth.*