Is Otisco Township, MI a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since May 2023
At the same time last year, Otisco Township was a Neutral Market.
Housing Prices in Otisco Township, MI
How much do homes in Otisco Township, MI cost?
Median Sold Price
$293,500
$171/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Summary: The median home sold price in Otisco Township was $293,500 in May 2024, up 14.2% from last year, and the median price per square foot was $171.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $80K | - | N/A |
2 Bedrooms | $186.2K | $161K | -13.6% |
3 Bedrooms | $205K | $245K | +19.5% |
4 Bedrooms | $270K | $315K | +16.7% |
5+ Bedrooms | $310K | $380K | +22.6% |
Summary: Otisco Township housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes decreased by 13.6%, 3 bedroom homes increased by 19.5%, 4 bedroom homes increased by 16.7%, and 5+ bedroom homes increased by 22.6%.
Median Sold Price Compared To Nearby Cities
Otisco Township | $257K | $293.5K | +14.2% |
Belding | $196K | $220K | +12.2% |
Orleans Township | $227K | $220K | -3.1% |
Eureka Township | $294K | $275.9K | -6.1% |
Housing Supply in Otisco Township, MI
How many homes are available in Otisco Township, MI?
Number of Homes For Sale
Apr 2024 | May 2024 | CHANGE |
---|---|---|
6 | 5 | -16.7% |
Summary: The Otisco Township real estate market had 5 homes for sale in May 2024, a 16.7% decrease compared to April 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 0 | 0 | 0.0% |
2 Bedrooms | 0 | 0 | 0.0% |
3 Bedrooms | 3 | 2 | -33.3% |
4 Bedrooms | 3 | 3 | 0.0% |
5+ Bedrooms | 0 | 0 | 0.0% |
Summary: The Otisco Township housing inventory by bedroom type for May 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes remained the same, 3 bedroom homes decreased by 33.3%, 4 bedroom homes remained the same, and 5+ bedroom homes remained the same.
Number of Homes Sold
Apr 2024 | May 2024 | CHANGE |
---|---|---|
3 | 1 | -66.7% |
Asking Price vs. Sold Price
0 Homes Were Sold
Under Asking
1 Home Was Sold
At Asking
0 Homes Were Sold
Over Asking
Summary: A total of 1 homes were sold or pending in Otisco Township in May 2024, down by 66.7% month-over-month. Of the 1 sold homes, 0% were sold under asking, 100% were sold at asking, and 0% were sold over asking.
Days on Market for Otisco Township, MI
How long does it take to sell a home in Otisco Township, MI?
Average Sale Time
May 2023 | May 2024 | CHANGE |
---|---|---|
1 Days | 3 Days | +100.0% |
Summary: Homes in Otisco Township had an average of 3 days on market in May 2024, up by 100% compared to last year.
Breakdown of Home Sale Times
1 Home Was Sold
Under 30 Days
0 Homes Were Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Summary: During May 2024, 1 homes were sold in Otisco Township; 100% of homes were sold within 30 days, 0% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.