April 2024

Otto Township Housing Market Report Otter Tail County, Minnesota

Report Updated 17 Days Ago

Housing Prices in Otto Township, MN

How much do homes in Otto Township, MN cost?

Median List Price

$324,950

$245/sqft

Based on all homes listed in the last 12 months.

Difference Since April 2023

-$142,050(-30.4%)

Key Takeaway

The list price of homes in Otto Township has decreased by 30.4% since last year.

Summary: The median home list price in Otto Township was $324,950 in April 2024, down 30.4% from the previous year, and the median price per square foot was $245.

Median List Price By Bedroom Count

# BEDS# BEDROOMS	Apr 2023	Apr 2024	CHANGE
1 Bedroom	$375K	$287.4K	-23.3%
2 Bedrooms	$491.9K	$292.2K	-40.6%
3 Bedrooms	$575K	$507K	-11.8%
4 Bedrooms	$422.4K	-	N/A
5+ Bedrooms	-	-	N/A

Summary: Otto Township housing prices by bedroom type for April 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 23.3%, 2 bedroom homes decreased by 40.6%, 3 bedroom homes decreased by 11.8%, 4 bedroom homes did not change, and 5+ bedroom homes did not change.

Median List Price Compared To Nearby Cities

CITY	Apr 2023	Apr 2024	CHANGE
Rush Lake Township	$281.2K	$395K	+40.4%
Pine Lake Township	$462.3K	$579K	+25.2%
Newton Township	$262.4K	$270K	+2.9%
Otto Township	$467K	$324.9K	-30.4%
Homestead Township	$460K	$287.5K	-37.5%

Housing Supply in Otto Township, MN

How many homes are available in Otto Township, MN?

Number of Homes For Sale

Mar 2024	Apr 2024	CHANGE
5	6	+20.0%

Summary: The Otto Township real estate market had 6 homes for sale in April 2024, a 20.0% increase compared to March 2024.

Homes For Sale By Bedroom Count

# BEDS# BEDROOMS	Mar 2024	Apr 2024	CHANGE
1 Bedroom	1	2	+100.0%
2 Bedrooms	2	2	0.0%
3 Bedrooms	2	2	0.0%
4 Bedrooms	0	0	0.0%
5+ Bedrooms	0	0	0.0%

Summary: The Otto Township housing inventory by bedroom type for April 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 100%, 2 bedroom homes remained the same, 3 bedroom homes remained the same, 4 bedroom homes remained the same, and 5+ bedroom homes remained the same.

Days on Market for Otto Township, MN

How long does it take to sell a home in Otto Township, MN?

Average Listing Age

Apr 2023	Apr 2024	CHANGE
23 Days	194 Days	+745.7%

Summary: Homes in Otto Township had an average listing age of 194 days in Apr 2024, up by 745.7% compared to the previous year.

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

Report Updated 17 Days Ago

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Newest Listings in Otto Township, MN

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Based on information from NorthStar of Minnesota / Regional Multiple Listing Service of Minnesota Inc. for the period 05/01/2022 - 05/01/2024

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Last updated on: 5/17/2024, 11:22:34 PM Eastern. If you have any questions regarding the accuracy of this data, please contact us at help@rockethomes.com.