$1,722 Closing Credit*
$145,000
780 SqFt
2 Beds
•1 Full Bath
Elizabeth A. Shultis GRI, Listing Office: Benson Agency Real Estate LLC
Is Otsego County, NY a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since October 2023
At the same time last year, Otsego County was a Seller's Market.
Key Takeaway
Otsego County is a Buyers Housing Market, which means prices tend to be lower and homes stay on the market longer.
Housing Prices in Otsego County, NY
How much do homes in Otsego County, NY cost?
Median Sold Price
$208,350
$126/sqft
Based on all homes sold in the last 12 months.
Difference Since October 2023
+$20,287(+10.8%)
Key Takeaway
Homes in Otsego County have sold for 10.8% more than they did a year ago.
Summary: The median home sold price in Otsego County was $208,350 in October 2024, up 10.8% from last year, and the median price per square foot was $126.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $146.7K | $125K | -14.8% |
| 2 Bedrooms | $147K | $169K | +15.0% |
| 3 Bedrooms | $190K | $200K | +5.3% |
| 4 Bedrooms | $199.2K | $238K | +19.5% |
| 5+ Bedrooms | $260.7K | $240K | -8.0% |
Summary: Otsego County housing prices by bedroom type for October 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 14.8%, 2 bedroom homes increased by 15%, 3 bedroom homes increased by 5.3%, 4 bedroom homes increased by 19.5%, and 5+ bedroom homes decreased by 8%.
Median Sold Price Compared To Nearby Counties
| Chenango County | $142K | $160K | +12.7% |
| Otsego County | $188K | $208.3K | +10.8% |
| Delaware County | $215K | $235K | +9.3% |
| Schoharie County | $210.3K | $221.3K | +5.3% |
| Madison County | $220K | $229.7K | +4.4% |
Housing Supply in Otsego County, NY
How many homes are available in Otsego County, NY?
Number of Homes For Sale
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 273 | 255 | -6.6% |
Summary: The Otsego County real estate market had 255 homes for sale in October 2024, a 6.6% decrease compared to September 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 8 | 9 | +12.5% |
| 2 Bedrooms | 38 | 33 | -13.2% |
| 3 Bedrooms | 106 | 96 | -9.4% |
| 4 Bedrooms | 69 | 64 | -7.2% |
| 5+ Bedrooms | 52 | 53 | +1.9% |
Summary: The Otsego County housing inventory by bedroom type for October 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 12.5%, 2 bedroom homes decreased by 13.2%, 3 bedroom homes decreased by 9.4%, 4 bedroom homes decreased by 7.2%, and 5+ bedroom homes increased by 1.9%.
Number of Homes Sold
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 44 | 36 | -18.2% |
Asking Price vs. Sold Price
22 Homes Were Sold
Under Asking
6 Homes Were Sold
At Asking
8 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Otsego County, you may be able to get a good deal. 61.1% of homes here sold below asking price last month.
Summary: A total of 36 homes were sold or pending in Otsego County in October 2024, down by 18.2% month-over-month. Of the 36 sold homes, 61% were sold under asking, 17% were sold at asking, and 22% were sold over asking.
Days on Market for Otsego County, NY
How long does it take to sell a home in Otsego County, NY?
Average Sale Time
| Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|
| 49 Days | 33 Days | -33.0% |
Summary: Homes in Otsego County had an average of 33 days on market in Oct 2024, down by 33% compared to last year.
Breakdown of Home Sale Times
24 Homes Were Sold
Under 30 Days
8 Homes Were Sold
In 30 - 90 Days
4 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Otsego County are selling fast, if you're buying plan to act quickly.
Summary: During October 2024, 36 homes were sold in Otsego County; 67% of homes were sold within 30 days, 22% of homes were sold within 30 to 90 days, and 11% of homes were sold over 90 days.
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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.