Is Otter Tail County, MN a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Otter Tail County is a neutral's market

Buyer's
Market

Difference Since April 2021

At the same time last year, Otter Tail County was a Seller's Market.

Key Takeaway

Otter Tail County is a Neutral Housing Market, which means prices tend to be reasonable and homes stay on the market for a typical length of time.

How much do homes in Otter Tail County, MN cost?

Median Sold Price

$239,983

$130/sqft

Based on all homes sold in the last 12 months.

Difference Since April 2021

+$30,987(+14.8%)

Key Takeaway

Homes in Otter Tail County have sold for 14.8% more than they did a year ago.

Median Sold Price By Bedroom Count

# BEDSApr 2021Apr 2022%
1 $94.5K$117.5K
+24.3%
2 $197.7K$177K
-10.5%
3 $187.5K$235K
+25.3%
4 $230.2K$282K
+22.5%
5+ $305.5K$347K
+13.6%

Median Sold Price Compared To Nearby Counties

Becker County
+22.9%
Otter Tail County
+14.8%
Grant County
+12.6%
Wadena County
0.2%
Wilkin County
-0.3%

How many homes are available in Otter Tail County, MN?

Number of Homes For Sale

Mar 2022Apr 2022%
192260+35.4%

Homes For Sale By Bedroom Count

# BEDSMar 2022Apr 2022%
1 712
+71.4%
2 5773
+28.1%
3 7099
+41.4%
4 4160
+46.3%
5+ 1716
-5.9%

Number of Homes Sold

Mar 2022Apr 2022%
2342+82.6%

Asking Price vs. Sold Price

16 Homes Were Sold
Under Asking

8 Homes Were Sold
At Asking

18 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Otter Tail County, you could pay more than the asking price. 42.9% of homes here sold above asking price last month.

Average Sale Time

Apr 2021Apr 2022%
10 Days48 Days+372.6%

Breakdown of Home Sale Times

24 Homes Were Sold
Under 30 Days

7 Homes Were Sold
In 30 - 90 Days

8 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

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

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

About Otter Tail County, MN

There are 260 homes are for sale in Otter Tail County, MN real estate market. The number of homes for sale in Otter Tail County, MN increased by 35.4% between March 2022 and April 2022. The median list price of listings available in April 2022 was $239,983, while the average time on the real estate market was 48 days. This housing market listing prices have changed between March 2022 and April 2022: 1 bedroom properties prices increased by 24.3%, prices of 2 bedrooms properties decreased by 10.5%, prices of 3 bedrooms properties increased by 25.3%, 4 bedrooms properties became 22.5% more expensive, prices of 5 bedrooms properties increased by 13.6%. Housing inventory have changed in this real estate market: volume of 1 bedroom homes went up by 71.4%, 2 bedrooms homes became 28.1% more available, the quantity of 3 bedrooms homes went up by 41.4%, number of 4 bedrooms homes increased by 46.3%, volume of 5 bedrooms homes went down by 5.9%. Otter Tail County, MN housing market in April 2022 saw over 18 listings sold above listed price, more than 8 sold at listed price and over 16 sold below.

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