$3,551 Closing Credit*
$299,000
1,920 SqFt
3 Beds
•2 Full Baths
Carol A. Olsen - SRES, Listing Office: Howard Hanna
Is Otsego County, 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 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
$210,333
$127/sqft
Based on all homes sold in the last 12 months.
Difference Since November 2023
+$21,645(+11.5%)
Key Takeaway
Homes in Otsego County have sold for 11.5% more than they did a year ago.
Summary: The median home sold price in Otsego County was $210,333 in November 2024, up 11.5% from last year, and the median price per square foot was $127.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Nov 2023 | Nov 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $153.4K | $115K | -25.1% |
| 2 Bedrooms | $150K | $169K | +12.7% |
| 3 Bedrooms | $190K | $196.5K | +3.4% |
| 4 Bedrooms | $201.5K | $247.5K | +22.8% |
| 5+ Bedrooms | $244.5K | $242.5K | -0.8% |
Summary: Otsego County housing prices by bedroom type for November 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 25.1%, 2 bedroom homes increased by 12.7%, 3 bedroom homes increased by 3.4%, 4 bedroom homes increased by 22.8%, and 5+ bedroom homes decreased by 0.8%.
Median Sold Price Compared To Nearby Counties
| Chenango County | $140K | $160K | +14.2% |
| Madison County | $214.5K | $240K | +11.9% |
| Otsego County | $188.6K | $210.3K | +11.5% |
| Delaware County | $215K | $230.3K | +7.1% |
| Schoharie County | $209.9K | $221.3K | +5.4% |
Housing Supply in Otsego County, NY
How many homes are available in Otsego County, NY?
Number of Homes For Sale
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 263 | 235 | -10.6% |
Summary: The Otsego County real estate market had 235 homes for sale in November 2024, a 10.6% decrease compared to October 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 10 | 8 | -20.0% |
| 2 Bedrooms | 37 | 29 | -21.6% |
| 3 Bedrooms | 102 | 88 | -13.7% |
| 4 Bedrooms | 66 | 56 | -15.2% |
| 5+ Bedrooms | 48 | 54 | +12.5% |
Summary: The Otsego County 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 21.6%, 3 bedroom homes decreased by 13.7%, 4 bedroom homes decreased by 15.2%, and 5+ bedroom homes increased by 12.5%.
Number of Homes Sold
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 42 | 27 | -35.7% |
Asking Price vs. Sold Price
13 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. 48.1% of homes here sold below asking price last month.
Summary: A total of 27 homes were sold or pending in Otsego County in November 2024, down by 35.7% month-over-month. Of the 27 sold homes, 48% were sold under asking, 22% were sold at asking, and 30% 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
| Nov 2023 | Nov 2024 | CHANGE |
|---|---|---|
| 50 Days | 67 Days | +34.1% |
Summary: Homes in Otsego County had an average of 67 days on market in Nov 2024, up by 34.1% compared to last year.
Breakdown of Home Sale Times
13 Homes Were Sold
Under 30 Days
9 Homes Were Sold
In 30 - 90 Days
5 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 November 2024, 27 homes were sold in Otsego County; 48% of homes were sold within 30 days, 33% of homes were sold within 30 to 90 days, and 19% of homes were sold over 90 days.
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