$10,000 Closing Credit*
$998,000
2,840 SqFt
4 Beds
•2 Full Baths
Listing Office: Realty Group LLC
Is Otter Tail Township, 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 Township has remained a Seller's Market.
Key Takeaway
Otter Tail Township is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Otter Tail Township, MN
How much do homes in Otter Tail Township, MN cost?
Median Sold Price
$499,950
$270/sqft
Based on all homes sold in the last 12 months.
Difference Since October 2023
-$52,050(-9.4%)
Key Takeaway
Homes in Otter Tail Township have sold for 9.4% less than they did a year ago.
Summary: The median home sold price in Otter Tail Township was $499,950 in October 2024, down 9.4% from last year, and the median price per square foot was $270.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $88K | $139.9K | +59.0% |
| 2 Bedrooms | $285K | $347.4K | +21.9% |
| 3 Bedrooms | $601K | $499.9K | -16.8% |
| 4 Bedrooms | $960K | $750K | -21.9% |
| 5+ Bedrooms | $737.5K | - | N/A |
Summary: Otter Tail Township housing prices by bedroom type for October 2024 compared to the previous year: The home price of 1 bedroom homes increased by 59%, 2 bedroom homes increased by 21.9%, 3 bedroom homes decreased by 16.8%, 4 bedroom homes decreased by 21.9%, and 5+ bedroom homes did not change.
Median Sold Price Compared To Nearby Cities
| Ottertail | $299.4K | $379K | +26.6% |
| Otter Tail Township | $552K | $499.9K | -9.4% |
| Girard Township | $419K | $294.5K | -29.7% |
Housing Supply in Otter Tail Township, MN
How many homes are available in Otter Tail Township, MN?
Number of Homes For Sale
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 9 | 11 | +22.2% |
Summary: The Otter Tail Township real estate market had 11 homes for sale in October 2024, a 22.2% increase compared to September 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 1 | 1 | 0.0% |
| 2 Bedrooms | 2 | 2 | 0.0% |
| 3 Bedrooms | 3 | 4 | +33.3% |
| 4 Bedrooms | 3 | 4 | +33.3% |
| 5+ Bedrooms | 0 | 0 | 0.0% |
Summary: The Otter Tail Township 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 remained the same, 3 bedroom homes increased by 33.3%, 4 bedroom homes increased by 33.3%, and 5+ bedroom homes remained the same.
Number of Homes Sold
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 1 | 4 | +300.0% |
Asking Price vs. Sold Price
2 Homes Were Sold
Under Asking
1 Home Was Sold
At Asking
1 Home Was Sold
Over Asking
Key Takeaway
If you're buying a home in Otter Tail Township, you may be able to get a good deal. 50% of homes here sold below asking price last month.
Summary: A total of 4 homes were sold or pending in Otter Tail Township in October 2024, up by 300.0% month-over-month. Of the 4 sold homes, 50% were sold under asking, 25% were sold at asking, and 25% were sold over asking.
Days on Market for Otter Tail Township, MN
How long does it take to sell a home in Otter Tail Township, MN?
Average Sale Time
| Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|
| 43 Days | 85 Days | +98.8% |
Summary: Homes in Otter Tail Township had an average of 85 days on market in Oct 2024, up by 98.8% compared to last year.
Breakdown of Home Sale Times
2 Homes Were Sold
Under 30 Days
0 Homes Were Sold
In 30 - 90 Days
2 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Otter Tail Township are selling fast, if you're buying plan to act quickly.
Summary: During October 2024, 4 homes were sold in Otter Tail Township; 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.
