Is Otisville, MI a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since Last Month
Since last month, Otisville has remained a Seller's Market.
Key Takeaway
Otisville is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Otisville, MI
How much do homes in Otisville, MI cost?
Median Sold Price
$153,000
$87/sqft
Based on all homes sold in March 2024.
Difference Since Last Month
Key Takeaway
Homes in Otisville have sold for 33.5% less than they did a month ago.
Summary: The median home sold price in Otisville was $153,000 in March 2024, down 33.5% from last month, and the median price per square foot was $87.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | - | N/A |
| 2 Bedrooms | $120K | - | N/A |
| 3 Bedrooms | $230K | $120K | -47.8% |
| 4 Bedrooms | - | $186K | N/A |
| 5+ Bedrooms | $299.9K | - | N/A |
Summary: Otisville housing prices by bedroom type for March 2024 compared to the previous month: The home price of 1 bedroom homes did not change, 2 bedroom homes did not change, 3 bedroom homes decreased by 47.8%, 4 bedroom homes did not change, and 5+ bedroom homes did not change.
Housing Supply in Otisville, MI
How many homes are available in Otisville, MI?
Number of Homes For Sale
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 6 | 6 | 0.0% |
Summary: The Otisville real estate market had 6 homes for sale in March 2024, the same as February 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 0 | 0 | 0.0% |
| 2 Bedrooms | 1 | 1 | 0.0% |
| 3 Bedrooms | 2 | 2 | 0.0% |
| 4 Bedrooms | 2 | 3 | +50.0% |
| 5+ Bedrooms | 1 | 0 | -100.0% |
Summary: The Otisville housing inventory by bedroom type for March 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes remained the same, 3 bedroom homes remained the same, 4 bedroom homes increased by 50%, and 5+ bedroom homes decreased by 100%.
Number of Homes Sold
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 3 | 2 | -33.3% |
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 Otisville, 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 Otisville in March 2024, down by 33.3% 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 Otisville, MI
How long does it take to sell a home in Otisville, MI?
Average Sale Time
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 43 Days | 42 Days | -1.2% |
Summary: Homes in Otisville had an average of 42 days on market in Mar 2024, down by 1.2% compared to last month.
Breakdown of Home Sale Times
0 Homes Were Sold
Under 30 Days
2 Homes Were Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Key Takeaway
Avg time on Rocket Homes in Otisville has remained consistent over time.
Summary: During March 2024, 2 homes were sold in Otisville; 0% of homes were sold within 30 days, 100% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.
