Is Otisco, NY 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 was a Seller's Market.
Key Takeaway
Otisco is a Neutral Housing Market, which means prices tend to be reasonable and homes stay on the market for a typical length of time.
Housing Prices in Otisco, NY
How much do homes in Otisco, NY cost?
Median Sold Price
$310,000
$149/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Key Takeaway
Homes in Otisco have sold for 19.8% more than they did a year ago.
Summary: The median home sold price in Otisco was $310,000 in May 2024, up 19.8% from last year, and the median price per square foot was $149.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | $94K | N/A |
| 2 Bedrooms | $255K | $435K | +70.6% |
| 3 Bedrooms | $332K | $300.5K | -9.5% |
| 4 Bedrooms | $189.5K | $320K | +68.9% |
| 5+ Bedrooms | $425K | $277.5K | -34.7% |
Summary: Otisco 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 increased by 70.6%, 3 bedroom homes decreased by 9.5%, 4 bedroom homes increased by 68.9%, and 5+ bedroom homes decreased by 34.7%.
Median Sold Price Compared To Nearby Cities
| Otisco | $258.7K | $310K | +19.8% |
| LaFayette | $265K | $265.5K | 0.2% |
Housing Supply in Otisco, NY
How many homes are available in Otisco, NY?
Number of Homes For Sale
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 12 | 13 | +8.3% |
Summary: The Otisco real estate market had 13 homes for sale in May 2024, a 8.3% increase compared to April 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 0 | 1 | +100.0% |
| 2 Bedrooms | 1 | 1 | 0.0% |
| 3 Bedrooms | 7 | 6 | -14.3% |
| 4 Bedrooms | 1 | 2 | +100.0% |
| 5+ Bedrooms | 3 | 3 | 0.0% |
Summary: The Otisco housing inventory by bedroom type for May 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 100%, 2 bedroom homes remained the same, 3 bedroom homes decreased by 14.3%, 4 bedroom homes increased by 100%, and 5+ bedroom homes remained the same.
Number of Homes Sold
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 1 | 2 | +100.0% |
Asking Price vs. Sold Price
1 Home Was Sold
Under Asking
0 Homes Were Sold
At Asking
1 Home Was Sold
Over Asking
Key Takeaway
If you're buying a home in Otisco, you may be able to get a good deal. 50% of homes here sold below asking price last month.
Summary: A total of 2 homes were sold or pending in Otisco in May 2024, up by 100.0% month-over-month. Of the 2 sold homes, 50% were sold under asking, 0% were sold at asking, and 50% were sold over asking.
Days on Market for Otisco, NY
How long does it take to sell a home in Otisco, NY?
Average Sale Time
| May 2023 | May 2024 | CHANGE |
|---|---|---|
| 5 Days | 61 Days | +1130.0% |
Summary: Homes in Otisco had an average of 61 days on market in May 2024, up by 1130% compared to last year.
Breakdown of Home Sale Times
1 Home Was Sold
Under 30 Days
0 Homes Were Sold
In 30 - 90 Days
1 Home Was Sold
Over 90 Days
Key Takeaway
Many homes in Otisco are selling fast, if you're buying plan to act quickly.
Summary: During May 2024, 2 homes were sold in Otisco; 50% of homes were sold within 30 days, 0% of homes were sold within 30 to 90 days, and 50% of homes were sold over 90 days.
