$10,000 Closing Credit*
$1,400,000
8,300 SqFt
5 Beds
•6 Full Baths, 1 Partial
Listing Office: Keller Williams Upstate NYProp
Is Otsego, NY 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, Otsego was a Seller's Market.
Key Takeaway
Otsego is a Buyers Housing Market, which means prices tend to be lower and homes stay on the market longer.
Housing Prices in Otsego, NY
How much do homes in Otsego, NY cost?
Median Sold Price
$406,500
$214/sqft
Based on all homes sold in the last 12 months.
Difference Since November 2023
+$37,500(+10.2%)
Key Takeaway
Homes in Otsego have sold for 10.2% more than they did a year ago.
Summary: The median home sold price in Otsego was $406,500 in November 2024, up 10.2% from last year, and the median price per square foot was $214.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Nov 2023 | Nov 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $395K | - | N/A |
| 2 Bedrooms | $235K | $335K | +42.6% |
| 3 Bedrooms | $375K | $375K | 0.0% |
| 4 Bedrooms | $363K | $427K | +17.6% |
| 5+ Bedrooms | $412K | $710K | +72.3% |
Summary: Otsego housing prices by bedroom type for November 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes increased by 42.6%, 3 bedroom homes did not change, 4 bedroom homes increased by 17.6%, and 5+ bedroom homes increased by 72.3%.
Median Sold Price Compared To Nearby Cities
| Cooperstown | $288.7K | $400K | +38.6% |
| Otsego | $369K | $406.5K | +10.2% |
Housing Supply in Otsego, NY
How many homes are available in Otsego, NY?
Number of Homes For Sale
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 14 | 14 | 0.0% |
Summary: The Otsego real estate market had 14 homes for sale in November 2024, the same as October 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 0 | 0 | 0.0% |
| 2 Bedrooms | 1 | 1 | 0.0% |
| 3 Bedrooms | 2 | 3 | +50.0% |
| 4 Bedrooms | 7 | 4 | -42.9% |
| 5+ Bedrooms | 4 | 6 | +50.0% |
Summary: The Otsego housing inventory by bedroom type for November 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 50%, 4 bedroom homes decreased by 42.9%, and 5+ bedroom homes increased by 50%.
Number of Homes Sold
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 3 | 1 | -66.7% |
Asking Price vs. Sold Price
1 Home Was Sold
Under Asking
0 Homes Were Sold
At Asking
0 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Otsego, you may be able to get a good deal. 100% of homes here sold below asking price last month.
Summary: A total of 1 homes were sold or pending in Otsego in November 2024, down by 66.7% month-over-month. Of the 1 sold homes, 100% were sold under asking, 0% were sold at asking, and 0% were sold over asking.
Days on Market for Otsego, NY
How long does it take to sell a home in Otsego, NY?
Average Sale Time
| Nov 2023 | Nov 2024 | CHANGE |
|---|---|---|
| 68 Days | 62 Days | -8.8% |
Summary: Homes in Otsego had an average of 62 days on market in Nov 2024, down by 8.8% compared to last year.
Breakdown of Home Sale Times
0 Homes Were Sold
Under 30 Days
1 Home Was Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Key Takeaway
Avg time on Rocket Homes in Otsego has remained consistent over time.
Summary: During November 2024, 1 homes were sold in Otsego; 0% of homes were sold within 30 days, 100% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.
Listings courtesy of OneKey MLS as distributed by MLS GRID.
The data relating to real estate for sale on this web site comes in part from the Broker Reciprocity Program of the OneKey™ MLS. Real Estate listings held by brokerage firms other than this broker are marked with the Broker Reciprocity logo and detailed information about them includes the name of the listing brokers. This information is provided exclusively for consumers’ personal, non-commercial use, that it may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing.