Is Otisville, MI a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Otisville is a 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

$230,000

$156/sqft

Based on all homes sold in February 2024.

Difference Since Last Month

+$80,000(+53.3%)

Key Takeaway

Homes in Otisville have sold for 53.3% more than they did a month ago.

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

# BEDSJan 2024Feb 2024CHANGE
1 --
N/A
2 $150K$120K
-20.0%
3 $147.7K$230K
+55.7%
4 --
N/A
5+ -$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 2024Feb 2024CHANGE
156-60.0%

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

# BEDSJan 2024Feb 2024CHANGE
1 00
0.0%
2 51
-80.0%
3 72
-71.4%
4 22
0.0%
5+ 11
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 2024Feb 2024CHANGE
83-62.5%

Asking Price vs. Sold Price

2 Homes Were Sold
Under Asking

1 Home Was Sold
At Asking

0 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Otisville, you may be able to get a good deal. 66.7% of homes here sold below asking price last month.

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 2024Feb 2024CHANGE
36 Days43 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

Breakdown of Home Sale Times

Key Takeaway

Avg time on Rocket Homes in Otisville has remained consistent over time.

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.

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

Report Updated 18 Days Ago

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