$1,839 Closing Credit*
$154,900
1,248 SqFt
2 Beds
•1 Full Bath
Tommy McHale, Jennifer Yerkes, Listing Office: Keller Williams First
Is Otisville, MI a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since November 2023
At the same time last year, Otisville was a Neutral Market.
Key Takeaway
Otisville is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Otisville, MI
How much do homes in Otisville, MI cost?
Median Sold Price
$178,000
$125/sqft
Based on all homes sold in the last 12 months.
Difference Since November 2023
-$2,000(-1.1%)
Key Takeaway
Homes in Otisville have sold for 1.1% less than they did a year ago.
Summary: The median home sold price in Otisville was $178,000 in November 2024, down 1.1% from last year, and the median price per square foot was $125.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Nov 2023 | Nov 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $325K | - | N/A |
| 2 Bedrooms | $126K | $146K | +15.9% |
| 3 Bedrooms | $170K | $178K | +4.7% |
| 4 Bedrooms | $212.5K | $345K | +62.4% |
| 5+ Bedrooms | - | $392.4K | N/A |
Summary: Otisville housing prices by bedroom type for November 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes increased by 15.9%, 3 bedroom homes increased by 4.7%, 4 bedroom homes increased by 62.4%, and 5+ bedroom homes did not change.
Median Sold Price Compared To Nearby Cities
| Otisville | $180K | $178K | -1.1% |
| Forest Township | $187.5K | $176K | -6.1% |
Housing Supply in Otisville, MI
How many homes are available in Otisville, MI?
Number of Homes For Sale
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 12 | 14 | +16.7% |
Summary: The Otisville real estate market had 14 homes for sale in November 2024, a 16.7% increase compared to October 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 0 | 0 | 0.0% |
| 2 Bedrooms | 1 | 3 | +200.0% |
| 3 Bedrooms | 8 | 9 | +12.5% |
| 4 Bedrooms | 3 | 2 | -33.3% |
| 5+ Bedrooms | 0 | 0 | 0.0% |
Summary: The Otisville housing inventory by bedroom type for November 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes increased by 200%, 3 bedroom homes increased by 12.5%, 4 bedroom homes decreased by 33.3%, and 5+ bedroom homes remained the same.
Number of Homes Sold
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 3 | 4 | +33.3% |
Asking Price vs. Sold Price
1 Home Was Sold
Under Asking
1 Home Was Sold
At Asking
2 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Otisville, you could pay more than the asking price. 50% of homes here sold above asking price last month.
Summary: A total of 4 homes were sold or pending in Otisville in November 2024, up by 33.3% month-over-month. Of the 4 sold homes, 25% were sold under asking, 25% were sold at asking, and 50% were sold over asking.
Days on Market for Otisville, MI
How long does it take to sell a home in Otisville, MI?
Average Sale Time
| Nov 2023 | Nov 2024 | CHANGE |
|---|---|---|
| 30 Days | 22 Days | -26.7% |
Summary: Homes in Otisville had an average of 22 days on market in Nov 2024, down by 26.7% compared to last year.
Breakdown of Home Sale Times
2 Homes Were Sold
Under 30 Days
2 Homes Were Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Otisville are selling fast, if you're buying plan to act quickly.
Summary: During November 2024, 4 homes were sold in Otisville; 50% of homes were sold within 30 days, 50% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.
