Is Otterbein, MD a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Otterbein is a buyer's market

Buyer's
Market

Difference Since February 2023

Since last year, Otterbein has remained a Buyer's Market.

Key Takeaway

Otterbein is a Buyers Housing Market, which means prices tend to be lower and homes stay on the market longer.

Housing Prices in Otterbein, MD

How much do homes in Otterbein, MD cost?

Median Sold Price

$313,150

$242/sqft

Based on all homes sold in the last 12 months.

Difference Since February 2023

+$13,150(+4.4%)

Key Takeaway

Homes in Otterbein have sold for 4.4% more than they did a year ago.

Summary: The median home sold price in Otterbein was $313,150 in February 2024, up 4.4% from last year, and the median price per square foot was $242.

Median Sold Price By Bedroom Count

# BEDSFeb 2023Feb 2024CHANGE
1 $241K$215K
-10.8%
2 $282.4K$280K
-0.9%
3 $484.5K$517.5K
+6.8%
4 $840K$549.9K
-34.5%
5+ --
N/A

Summary: Otterbein housing prices by bedroom type for February 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 10.8%, 2 bedroom homes decreased by 0.9%, 3 bedroom homes increased by 6.8%, 4 bedroom homes decreased by 34.5%, and 5+ bedroom homes did not change.

Housing Supply in Otterbein, MD

How many homes are available in Otterbein, MD?

Number of Homes For Sale

Jan 2024Feb 2024CHANGE
1922+15.8%

Summary: The Otterbein real estate market had 22 homes for sale in February 2024, a 15.8% increase compared to January 2024.

Homes For Sale By Bedroom Count

# BEDSJan 2024Feb 2024CHANGE
1 00
0.0%
2 1114
+27.3%
3 66
0.0%
4 11
0.0%
5+ 11
0.0%

Summary: The Otterbein housing inventory by bedroom type for February 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes increased by 27.3%, 3 bedroom homes remained the same, 4 bedroom homes remained the same, and 5+ bedroom homes remained the same.

Number of Homes Sold

Jan 2024Feb 2024CHANGE
03+100.0%

Asking Price vs. Sold Price

0 Homes Were Sold
Under Asking

3 Homes Were Sold
At Asking

0 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Otterbein, expect to pay close to the asking price. 100% of homes here sold near the asking price last month.

Summary: A total of 3 homes were sold or pending in Otterbein in February 2024, up by 100.0% month-over-month. Of the 3 sold homes, 0% were sold under asking, 100% were sold at asking, and 0% were sold over asking.

Days on Market for Otterbein, MD

How long does it take to sell a home in Otterbein, MD?

Average Sale Time

Feb 2023Feb 2024CHANGE
166 Days8 Days-95.0%

Summary: Homes in Otterbein had an average of 8 days on market in Feb 2024, down by 95% compared to last year.

Breakdown of Home Sale Times

3 Homes Were Sold
Under 30 Days

0 Homes Were Sold
In 30 - 90 Days

0 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

Many homes in Otterbein are selling fast, if you're buying plan to act quickly.

Summary: During February 2024, 3 homes were sold in Otterbein; 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.

Housing Market Reports are calculated by Rocket Homes Real Estate and based on information from the MLS.

Report Updated 27 Days Ago

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