94065, Redwood City, CA

The home equity and home prices in the 94065 zip code of Redwood City, CA have been on the rise for quite some time now. The median home value in this area is currently $1,078,000, which is up from $927,500 just five years ago. In addition to this increase in home values, there has also been an increase in the number of homes that are available for sale. As of May 2017 there were 1,715 homes for sale in the 94065 zip code compared to 1,362 homes five years ago. This increase in available homes may be contributing to the higher median home value as buyers may be able to find a property that meets their needs at a price they are more comfortable with.

While there is no one answer as to why the home equity and home prices have increased so much in the 94065 zip code over the past few years, it is likely that several factors are responsible. One reason could be that Redwood City has seen steady growth over the past few decades and as a result there are more people who want to live here than ever before. Additionally, many people who live here have been able to invest their money wisely and have seen their home values grow significantly over time which has helped contribute to increased demand for properties in this area. Finally, it is important to note that while interest rates have remained relatively low throughout most of this period, they could potentially start rising soon which would likely cause homeownership rates (and thereforehome equity)to decline somewhat.