$2,255 Closing Credit*
$189,900
902 SqFt
2 Beds
•1 Full Bath
Carrie Keahl, Listing Office: Crown Real Estate Group
Is Otisville, MI a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since October 2023
Since last year, Otisville has remained a Seller's 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
$177,500
$141/sqft
Based on all homes sold in the last 12 months.
Difference Since October 2023
-$10,000(-5.3%)
Key Takeaway
Homes in Otisville have sold for 5.3% less than they did a year ago.
Summary: The median home sold price in Otisville was $177,500 in October 2024, down 5.3% from last year, and the median price per square foot was $141.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $325K | - | N/A |
| 2 Bedrooms | $114.5K | $146K | +27.5% |
| 3 Bedrooms | $174K | $178K | +2.3% |
| 4 Bedrooms | $220K | $345K | +56.8% |
| 5+ Bedrooms | $423K | $392.4K | -7.2% |
Summary: Otisville housing prices by bedroom type for October 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes increased by 27.5%, 3 bedroom homes increased by 2.3%, 4 bedroom homes increased by 56.8%, and 5+ bedroom homes decreased by 7.2%.
Median Sold Price Compared To Nearby Cities
| Otisville | $187.5K | $177.5K | -5.3% |
| Forest Township | $193.7K | $175K | -9.7% |
Housing Supply in Otisville, MI
How many homes are available in Otisville, MI?
Number of Homes For Sale
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 10 | 11 | +10.0% |
Summary: The Otisville real estate market had 11 homes for sale in October 2024, a 10.0% increase compared to September 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 0 | 0 | 0.0% |
| 2 Bedrooms | 3 | 1 | -66.7% |
| 3 Bedrooms | 5 | 7 | +40.0% |
| 4 Bedrooms | 2 | 3 | +50.0% |
| 5+ Bedrooms | 0 | 0 | 0.0% |
Summary: The Otisville housing inventory by bedroom type for October 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes decreased by 66.7%, 3 bedroom homes increased by 40%, 4 bedroom homes increased by 50%, and 5+ bedroom homes remained the same.
Number of Homes Sold
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 2 | 2 | 0.0% |
Asking Price vs. Sold Price
1 Home Was Sold
Under Asking
0 Homes Were Sold
At Asking
1 Home Was Sold
Over Asking
Key Takeaway
If you're buying a home in Otisville, you may be able to get a good deal. 50% of homes here sold below asking price last month.
Summary: A total of 2 homes were sold or pending in Otisville in October 2024, the same as the previous month. Of the 2 sold homes, 50% were sold under asking, 0% 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
| Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|
| 10 Days | 62 Days | +525.0% |
Summary: Homes in Otisville had an average of 62 days on market in Oct 2024, up by 525% compared to last year.
Breakdown of Home Sale Times
1 Home Was Sold
Under 30 Days
0 Homes Were Sold
In 30 - 90 Days
1 Home Was Sold
Over 90 Days
Key Takeaway
Many homes in Otisville are selling fast, if you're buying plan to act quickly.
Summary: During October 2024, 2 homes were sold in Otisville; 50% of homes were sold within 30 days, 0% of homes were sold within 30 to 90 days, and 50% of homes were sold over 90 days.
