$3,205 Closing Credit*
$269,900
1,512 SqFt
3 Beds
•2 Full Baths
Aaron Jennings, Listing Office: Wiens And Roth Real Estate - Lambertville
Is Ottawa Lake, 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, Ottawa Lake has remained a Seller's Market.
Key Takeaway
Ottawa Lake is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Ottawa Lake, MI
How much do homes in Ottawa Lake, MI cost?
Median Sold Price
$255,822
$156/sqft
Based on all homes sold in the last 12 months.
Difference Since October 2023
-$20,677(-7.5%)
Key Takeaway
Homes in Ottawa Lake have sold for 7.5% less than they did a year ago.
Summary: The median home sold price in Ottawa Lake was $255,822 in October 2024, down 7.5% from last year, and the median price per square foot was $156.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $106K | - | N/A |
| 2 Bedrooms | $161K | $175K | +8.7% |
| 3 Bedrooms | $266.5K | $240.8K | -9.6% |
| 4 Bedrooms | $322.9K | $282.5K | -12.5% |
| 5+ Bedrooms | $280K | $637.5K | +127.7% |
Summary: Ottawa Lake 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 8.7%, 3 bedroom homes decreased by 9.6%, 4 bedroom homes decreased by 12.5%, and 5+ bedroom homes increased by 127.7%.
Median Sold Price Compared To Nearby Cities
| Sylvania | $280K | $305K | +8.9% |
| Lambertville | $253K | $267.4K | +5.7% |
| Whiteford Township | $284.7K | $264.9K | -7.0% |
| Ottawa Lake | $276.5K | $255.8K | -7.5% |
Housing Supply in Ottawa Lake, MI
How many homes are available in Ottawa Lake, MI?
Number of Homes For Sale
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 12 | 15 | +25.0% |
Summary: The Ottawa Lake real estate market had 15 homes for sale in October 2024, a 25.0% 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 | 2 | 3 | +50.0% |
| 3 Bedrooms | 5 | 5 | 0.0% |
| 4 Bedrooms | 2 | 4 | +100.0% |
| 5+ Bedrooms | 3 | 3 | 0.0% |
Summary: The Ottawa Lake 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 increased by 50%, 3 bedroom homes remained the same, 4 bedroom homes increased by 100%, and 5+ bedroom homes remained the same.
Number of Homes Sold
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 2 | 3 | +50.0% |
Asking Price vs. Sold Price
2 Homes Were Sold
Under Asking
0 Homes Were Sold
At Asking
1 Home Was Sold
Over Asking
Key Takeaway
If you're buying a home in Ottawa Lake, you may be able to get a good deal. 66.7% of homes here sold below asking price last month.
Summary: A total of 3 homes were sold or pending in Ottawa Lake in October 2024, up by 50.0% month-over-month. Of the 3 sold homes, 67% were sold under asking, 0% were sold at asking, and 33% were sold over asking.
Days on Market for Ottawa Lake, MI
How long does it take to sell a home in Ottawa Lake, MI?
Average Sale Time
| Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|
| 202 Days | 26 Days | -87.0% |
Summary: Homes in Ottawa Lake had an average of 26 days on market in Oct 2024, down by 87% compared to last year.
Breakdown of Home Sale Times
2 Homes Were Sold
Under 30 Days
1 Home Was Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Ottawa Lake are selling fast, if you're buying plan to act quickly.
Summary: During October 2024, 3 homes were sold in Ottawa Lake; 67% of homes were sold within 30 days, 33% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.
