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.
Housing Prices in Otisville, MI
How much do homes in Otisville, MI cost?
Median Sold Price
$230,000
$156/sqft
Based on all homes sold in February 2024.
Difference Since Last Month
Summary: The median home sold price in Otisville was $230,000 in February 2024, up 53.3% from last month, and the median price per square foot was $156.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | Jan 2024 | Feb 2024 | CHANGE |
---|---|---|---|
1 Bedroom | - | - | N/A |
2 Bedrooms | $150K | $120K | -20.0% |
3 Bedrooms | $147.7K | $230K | +55.7% |
4 Bedrooms | - | - | N/A |
5+ Bedrooms | - | $299.9K | N/A |
Summary: Otisville housing prices by bedroom type for February 2024 compared to the previous month: The home price of 1 bedroom homes did not change, 2 bedroom homes decreased by 20%, 3 bedroom homes increased by 55.7%, 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
Jan 2024 | Feb 2024 | CHANGE |
---|---|---|
15 | 6 | -60.0% |
Summary: The Otisville real estate market had 6 homes for sale in February 2024, a 60.0% decrease compared to January 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Jan 2024 | Feb 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 0 | 0 | 0.0% |
2 Bedrooms | 5 | 1 | -80.0% |
3 Bedrooms | 7 | 2 | -71.4% |
4 Bedrooms | 2 | 2 | 0.0% |
5+ Bedrooms | 1 | 1 | 0.0% |
Summary: The Otisville 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 decreased by 80%, 3 bedroom homes decreased by 71.4%, 4 bedroom homes remained the same, and 5+ bedroom homes remained the same.
Number of Homes Sold
Jan 2024 | Feb 2024 | CHANGE |
---|---|---|
8 | 3 | -62.5% |
Asking Price vs. Sold Price
2 Homes Were Sold
Under Asking
1 Home Was Sold
At Asking
0 Homes Were Sold
Over Asking
Summary: A total of 3 homes were sold or pending in Otisville in February 2024, down by 62.5% month-over-month. Of the 3 sold homes, 67% were sold under asking, 33% were sold at asking, and 0% 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
Jan 2024 | Feb 2024 | CHANGE |
---|---|---|
36 Days | 43 Days | +18.6% |
Summary: Homes in Otisville had an average of 43 days on market in Feb 2024, up by 18.6% compared to last month.
Breakdown of Home Sale Times
1 Home Was Sold
Under 30 Days
2 Homes Were Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Summary: During February 2024, 3 homes were sold in Otisville; 33% of homes were sold within 30 days, 67% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.