$4,738 Closing Credit*
$399,000
2,296 SqFt
3 Beds
•1 Full Bath, 1 Partial
Listing Office: Lakes Family Real Estate/Otter Tail Real Estate
Is Otter Tail County, MN 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, Otter Tail County has remained a Seller's Market.
Key Takeaway
Otter Tail County is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Otter Tail County, MN
How much do homes in Otter Tail County, MN cost?
Median Sold Price
$280,064
$154/sqft
Based on all homes sold in the last 12 months.
Difference Since October 2023
+$19,797(+7.6%)
Key Takeaway
Homes in Otter Tail County have sold for 7.6% more than they did a year ago.
Summary: The median home sold price in Otter Tail County was $280,064 in October 2024, up 7.6% from last year, and the median price per square foot was $154.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $147.5K | $181K | +22.7% |
| 2 Bedrooms | $231K | $230K | -0.4% |
| 3 Bedrooms | $249.3K | $281.5K | +12.9% |
| 4 Bedrooms | $331K | $317K | -4.2% |
| 5+ Bedrooms | $340K | $400K | +17.6% |
Summary: Otter Tail County housing prices by bedroom type for October 2024 compared to the previous year: The home price of 1 bedroom homes increased by 22.7%, 2 bedroom homes decreased by 0.4%, 3 bedroom homes increased by 12.9%, 4 bedroom homes decreased by 4.2%, and 5+ bedroom homes increased by 17.6%.
Median Sold Price Compared To Nearby Counties
| Grant County | $149.9K | $179K | +19.4% |
| Otter Tail County | $260.2K | $280K | +7.6% |
| Becker County | $326.5K | $350K | +7.2% |
| Wadena County | $185K | $197.6K | +6.8% |
| Wilkin County | $158K | $149.9K | -5.1% |
Housing Supply in Otter Tail County, MN
How many homes are available in Otter Tail County, MN?
Number of Homes For Sale
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 432 | 410 | -5.1% |
Summary: The Otter Tail County real estate market had 410 homes for sale in October 2024, a 5.1% decrease compared to September 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 24 | 20 | -16.7% |
| 2 Bedrooms | 88 | 78 | -11.4% |
| 3 Bedrooms | 184 | 177 | -3.8% |
| 4 Bedrooms | 97 | 99 | +2.1% |
| 5+ Bedrooms | 39 | 36 | -7.7% |
Summary: The Otter Tail County housing inventory by bedroom type for October 2024 compared to the previous month: The inventory of 1 bedroom homes decreased by 16.7%, 2 bedroom homes decreased by 11.4%, 3 bedroom homes decreased by 3.8%, 4 bedroom homes increased by 2.1%, and 5+ bedroom homes decreased by 7.7%.
Number of Homes Sold
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 84 | 74 | -11.9% |
Asking Price vs. Sold Price
35 Homes Were Sold
Under Asking
20 Homes Were Sold
At Asking
19 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Otter Tail County, you may be able to get a good deal. 47.3% of homes here sold below asking price last month.
Summary: A total of 74 homes were sold or pending in Otter Tail County in October 2024, down by 11.9% month-over-month. Of the 74 sold homes, 47% were sold under asking, 27% were sold at asking, and 26% were sold over asking.
Days on Market for Otter Tail County, MN
How long does it take to sell a home in Otter Tail County, MN?
Average Sale Time
| Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|
| 42 Days | 56 Days | +30.4% |
Summary: Homes in Otter Tail County had an average of 56 days on market in Oct 2024, up by 30.4% compared to last year.
Breakdown of Home Sale Times
37 Homes Were Sold
Under 30 Days
17 Homes Were Sold
In 30 - 90 Days
15 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Otter Tail County are selling fast, if you're buying plan to act quickly.
Summary: During October 2024, 74 homes were sold in Otter Tail County; 50% of homes were sold within 30 days, 23% of homes were sold within 30 to 90 days, and 20% of homes were sold over 90 days.
