$345,000
Land
Listing Office: REAL (3064 FGO)
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 November 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
$279,827
$154/sqft
Based on all homes sold in the last 12 months.
Difference Since November 2023
+$11,924(+4.5%)
Key Takeaway
Homes in Otter Tail County have sold for 4.5% more than they did a year ago.
Summary: The median home sold price in Otter Tail County was $279,827 in November 2024, up 4.5% from last year, and the median price per square foot was $154.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Nov 2023 | Nov 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $130.2K | $181K | +39.0% |
| 2 Bedrooms | $229.5K | $230K | 0.2% |
| 3 Bedrooms | $261.1K | $278K | +6.5% |
| 4 Bedrooms | $331K | $333.5K | +0.8% |
| 5+ Bedrooms | $362.2K | $378K | +4.3% |
Summary: Otter Tail County housing prices by bedroom type for November 2024 compared to the previous year: The home price of 1 bedroom homes increased by 39%, 2 bedroom homes increased by 0.2%, 3 bedroom homes increased by 6.5%, 4 bedroom homes increased by 0.8%, and 5+ bedroom homes increased by 4.3%.
Median Sold Price Compared To Nearby Counties
| Becker County | $319.9K | $360K | +12.5% |
| Grant County | $165K | $185K | +12.1% |
| Wadena County | $185K | $200K | +8.1% |
| Otter Tail County | $267.9K | $279.8K | +4.5% |
| Wilkin County | $158K | $152.5K | -3.5% |
Housing Supply in Otter Tail County, MN
How many homes are available in Otter Tail County, MN?
Number of Homes For Sale
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 369 | 334 | -9.5% |
Summary: The Otter Tail County real estate market had 334 homes for sale in November 2024, a 9.5% decrease compared to October 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 15 | 13 | -13.3% |
| 2 Bedrooms | 67 | 62 | -7.5% |
| 3 Bedrooms | 164 | 145 | -11.6% |
| 4 Bedrooms | 90 | 82 | -8.9% |
| 5+ Bedrooms | 33 | 32 | -3.0% |
Summary: The Otter Tail County housing inventory by bedroom type for November 2024 compared to the previous month: The inventory of 1 bedroom homes decreased by 13.3%, 2 bedroom homes decreased by 7.5%, 3 bedroom homes decreased by 11.6%, 4 bedroom homes decreased by 8.9%, and 5+ bedroom homes decreased by 3%.
Number of Homes Sold
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 77 | 56 | -27.3% |
Asking Price vs. Sold Price
27 Homes Were Sold
Under Asking
9 Homes Were Sold
At Asking
20 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. 48.2% of homes here sold below asking price last month.
Summary: A total of 56 homes were sold or pending in Otter Tail County in November 2024, down by 27.3% month-over-month. Of the 56 sold homes, 48% were sold under asking, 16% were sold at asking, and 36% 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
| Nov 2023 | Nov 2024 | CHANGE |
|---|---|---|
| 42 Days | 69 Days | +61.3% |
Summary: Homes in Otter Tail County had an average of 69 days on market in Nov 2024, up by 61.3% compared to last year.
Breakdown of Home Sale Times
24 Homes Were Sold
Under 30 Days
19 Homes Were Sold
In 30 - 90 Days
13 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 November 2024, 56 homes were sold in Otter Tail County; 43% of homes were sold within 30 days, 34% of homes were sold within 30 to 90 days, and 23% of homes were sold over 90 days.
