97856, Long Creek, OR

The 97856 zip code of Long Creek, Oregon is located in the Willamette Valley and has a population of approximately 1,000. Home prices in this zip code have increased significantly over the past few years, reaching a median sale price of $269,000 as of May 2017. The average home size is 2,500 square feet and there are a total of 191 homes for sale.

The primary drivers behind the increase in home prices in this zip code are strong demand from local buyers and limited supply. Local buyers are attracted to the area due to its proximity to Portland and its many amenities, such as excellent schools and job opportunities. Additionally, Long Creek is situated within desirable commuting distance to both downtown Portland and Eugene.

Despite these positive factors, there are some potential risks that could affect home prices in this area. For example, if interest rates rise or if the local economy weakens, then demand for homes could decrease which would lead to a decline in home values. Additionally, while there is strong demand from local buyers at present, it's possible that interest rates may eventually rise above what locals are willing to pay which could lead to fewer homes being sold and a slower rate of appreciation for properties in this zip code.