$5,932 Closing Credit*
$499,500
1,408 SqFt
2 Beds
•1 Full Bath
Listing Office: Century 21 Atwood
Is Ottertail, MN a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since November 2023
At the same time last year, Ottertail was a Seller's Market.
Key Takeaway
Ottertail is a Buyers Housing Market, which means prices tend to be lower and homes stay on the market longer.
Housing Prices in Ottertail, MN
How much do homes in Ottertail, MN cost?
Median Sold Price
$395,000
$235/sqft
Based on all homes sold in the last 12 months.
Difference Since November 2023
+$95,550(+31.9%)
Key Takeaway
Homes in Ottertail have sold for 31.9% more than they did a year ago.
Summary: The median home sold price in Ottertail was $395,000 in November 2024, up 31.9% from last year, and the median price per square foot was $235.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Nov 2023 | Nov 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $75.5K | $205.9K | +172.8% |
| 2 Bedrooms | $248.7K | $379.9K | +52.7% |
| 3 Bedrooms | $299.9K | $412K | +37.4% |
| 4 Bedrooms | $677K | $645K | -4.7% |
| 5+ Bedrooms | $575K | $627K | +9.0% |
Summary: Ottertail housing prices by bedroom type for November 2024 compared to the previous year: The home price of 1 bedroom homes increased by 172.8%, 2 bedroom homes increased by 52.7%, 3 bedroom homes increased by 37.4%, 4 bedroom homes decreased by 4.7%, and 5+ bedroom homes increased by 9%.
Median Sold Price Compared To Nearby Cities
| Ottertail | $299.4K | $395K | +31.9% |
| Otter Tail Township | $537.5K | $525K | -2.3% |
Housing Supply in Ottertail, MN
How many homes are available in Ottertail, MN?
Number of Homes For Sale
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 33 | 28 | -15.2% |
Summary: The Ottertail real estate market had 28 homes for sale in November 2024, a 15.2% decrease compared to October 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 5 | 4 | -20.0% |
| 2 Bedrooms | 13 | 12 | -7.7% |
| 3 Bedrooms | 10 | 8 | -20.0% |
| 4 Bedrooms | 5 | 4 | -20.0% |
| 5+ Bedrooms | 0 | 0 | 0.0% |
Summary: The Ottertail housing inventory by bedroom type for November 2024 compared to the previous month: The inventory of 1 bedroom homes decreased by 20%, 2 bedroom homes decreased by 7.7%, 3 bedroom homes decreased by 20%, 4 bedroom homes decreased by 20%, and 5+ bedroom homes remained the same.
Number of Homes Sold
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 8 | 3 | -62.5% |
Asking Price vs. Sold Price
1 Home Was Sold
Under Asking
0 Homes Were Sold
At Asking
2 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Ottertail, you could pay more than the asking price. 66.7% of homes here sold above asking price last month.
Summary: A total of 3 homes were sold or pending in Ottertail in November 2024, down by 62.5% month-over-month. Of the 3 sold homes, 33% were sold under asking, 0% were sold at asking, and 67% were sold over asking.
Days on Market for Ottertail, MN
How long does it take to sell a home in Ottertail, MN?
Average Sale Time
| Nov 2023 | Nov 2024 | CHANGE |
|---|---|---|
| 82 Days | 32 Days | -60.6% |
Summary: Homes in Ottertail had an average of 32 days on market in Nov 2024, down by 60.6% 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 Ottertail are selling fast, if you're buying plan to act quickly.
Summary: During November 2024, 3 homes were sold in Ottertail; 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.
