97368, Otis, OR

The 97368 zip code of Otis, OR is located in the Willamette Valley region of Oregon. The area has a population of about 9,000 people and an average household income of around $60,000. Otis is a small town that was founded in 1884 and has been growing steadily since then. The economy is based largely on agriculture and forestry, with some light manufacturing and service industries present as well.

Home prices in the 97368 zip code have been increasing steadily over the past few years. In January 2017, the median home price was $269,500 which represented a 6% increase from January 2016. This trend appears to be continuing as the median home price reached $277,500 in October 2017 – an increase of 8% from October 2016. While there may be some regional variation within this zip code due to differences in property values and local market conditions, it seems clear that home prices are rising rapidly here and could continue to do so for some time to come.

One potential reason for this trend is that Otis is located within a desirable area – both geographically and economically – which is attracting more buyers into the market. Additionally, there has been an increase in home equity loans available to residents here which may also be contributing to rising prices. Finally, although interest rates are currently low (3%), they could rise over time which would further boost prices (assuming no other factors changed).

Overall, it seems clear that home prices are on the rise in the 97368 zip code of Otis and could continue doing so for some time to come. If you're looking to buy or sell a property in this area – or anywhere else for that matter – it's important to keep track of current market conditions so you can make informed decisions about your investment strategy