Is Otisville, MI a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since June 2023
At the same time last year, Otisville was a Seller's Market.
Key Takeaway
Otisville is a Buyers Housing Market, which means prices tend to be lower and homes stay on the market longer.
Housing Prices in Otisville, MI
How much do homes in Otisville, MI cost?
Median Sold Price
$182,950
$155/sqft
Based on all homes sold in the last 12 months.
Difference Since June 2023
Key Takeaway
Homes in Otisville have sold for 1.6% more than they did a year ago.
Summary: The median home sold price in Otisville was $182,950 in June 2024, up 1.6% from last year, and the median price per square foot was $155.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Jun 2023 | Jun 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | $325K | N/A |
| 2 Bedrooms | $175K | $143K | -18.3% |
| 3 Bedrooms | $175K | $179.9K | +2.8% |
| 4 Bedrooms | $192.5K | $331K | +71.9% |
| 5+ Bedrooms | $423K | $299.9K | -29.1% |
Summary: Otisville housing prices by bedroom type for June 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes decreased by 18.3%, 3 bedroom homes increased by 2.8%, 4 bedroom homes increased by 71.9%, and 5+ bedroom homes decreased by 29.1%.
Median Sold Price Compared To Nearby Cities
| Otisville | $180K | $182.9K | +1.6% |
| Forest Township | $183K | $179K | -2.2% |
Housing Supply in Otisville, MI
How many homes are available in Otisville, MI?
Number of Homes For Sale
| May 2024 | Jun 2024 | CHANGE |
|---|---|---|
| 13 | 11 | -15.4% |
Summary: The Otisville real estate market had 11 homes for sale in June 2024, a 15.4% decrease compared to May 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | May 2024 | Jun 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 0 | 0 | 0.0% |
| 2 Bedrooms | 3 | 2 | -33.3% |
| 3 Bedrooms | 6 | 7 | +16.7% |
| 4 Bedrooms | 3 | 1 | -66.7% |
| 5+ Bedrooms | 1 | 1 | 0.0% |
Summary: The Otisville housing inventory by bedroom type for June 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes decreased by 33.3%, 3 bedroom homes increased by 16.7%, 4 bedroom homes decreased by 66.7%, and 5+ bedroom homes remained the same.
Number of Homes Sold
| May 2024 | Jun 2024 | CHANGE |
|---|---|---|
| 6 | 1 | -83.3% |
Asking Price vs. Sold Price
1 Home Was Sold
Under Asking
0 Homes Were Sold
At Asking
0 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Otisville, you may be able to get a good deal. 100% of homes here sold below asking price last month.
Summary: A total of 1 homes were sold or pending in Otisville in June 2024, down by 83.3% month-over-month. Of the 1 sold homes, 100% were sold under asking, 0% 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
| Jun 2023 | Jun 2024 | CHANGE |
|---|---|---|
| 19 Days | 10 Days | -47.4% |
Summary: Homes in Otisville had an average of 10 days on market in Jun 2024, down by 47.4% 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
Key Takeaway
Many homes in Otisville are selling fast, if you're buying plan to act quickly.
Summary: During June 2024, 1 homes were sold in Otisville; 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.
