01071, Russell, MA

Russell, MA is located in Middlesex County and has a population of about 27,000. The median household income is $87,500 and the median home value is $269,900. Home equity in Russell peaked in 2007 at $359,000 but has since declined to $253,000 as of 2016.

The 1071 zip code of Russell has seen a decline in home values over the past few years. In 2016, there were 5 homes sold for more than $300,000 and only 1 home sold for more than $400,000. This indicates that most homes in this zip code are selling for less than their peak value of 2007.

One reason that home values have decreased in Russell is that the market has become saturated with homes that are similar to each other. Many people are looking to buy or sell their homes quickly due to the current economy and competition from other buyers.

Another reason why home values have decreased in Russell is that interest rates have been low for many years now and people cannot afford to borrow as much money as they used to be able to do. This means that people who want to buy a home will need to save more money than they would have had to previously if interest rates were higher.

Overall, it seems that there are several factors contributing towards the decrease in home values in Russell over the past few years: saturation of the market with similar homes; low interest rates; and people's inability or unwillingness to borrow as much money as they used to be able too