Is Otisco, NY a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Otisco is a seller's market

Buyer's
Market

Difference Since November 2021

At the same time last year, Otisco was a Buyer's Market.

Key Takeaway

Otisco is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.

How much do homes in Otisco, NY cost?

Median Sold Price

$262,500

$140/sqft

Based on all homes sold in the last 12 months.

Difference Since November 2021

-$76,500(-22.6%)

Key Takeaway

Homes in Otisco have sold for 22.6% less than they did a year ago.

Median Sold Price By Bedroom Count

# BEDSNov 2021Nov 2022%
1 --
N/A
2 -$255K
N/A
3 $241K$251.9K
+4.5%
4 $397.5K$280K
-29.6%
5+ $600K$490K
-18.3%

Median Sold Price Compared To Nearby Cities

Spafford
+12.7%
LaFayette
+12.0%
La Fayette
0.4%
Marietta
-22.1%
Otisco
-22.6%

How many homes are available in Otisco, NY?

Number of Homes For Sale

Oct 2022Nov 2022%
32-33.3%

Homes For Sale By Bedroom Count

# BEDSOct 2022Nov 2022%
1 00
0.0%
2 00
0.0%
3 21
-50.0%
4 11
0.0%
5+ 00
0.0%

Number of Homes Sold

Oct 2022Nov 2022%
12+100.0%

Asking Price vs. Sold Price

0 Homes Were Sold
Under Asking

0 Homes Were Sold
At Asking

2 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Otisco, you could pay more than the asking price. 100% of homes here sold above asking price last month.

Average Sale Time

Nov 2021Nov 2022%
9 Days47 Days+427.8%

Breakdown of Home Sale Times

1 Home Was Sold
Under 30 Days

0 Homes Were Sold
In 30 - 90 Days

1 Home Was Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

Many homes in Otisco 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 Otisco, NY

Otisco, NY has 2 homes on the market. The inventory of homes for sale in Otisco, NY between October 2022 and November 2022 decreased by 33.3%. Listings spent 47 days on the market in November 2022, and had a median list price of $262,500 during the same period. This housing market listing prices have changed between October 2022 and November 2022: the cost of 1 bedroom properties went up by 0%, the cost of 2 bedrooms properties went up by 0%, 3 bedrooms properties prices increased by 4.5%, the cost of 4 bedrooms properties went down by 29.6%, prices of 5 bedrooms properties decreased by 18.3%. This housing market inventory have changed: 1 bedroom homes did not move, 2 bedrooms homes inventory did not change, volume of 3 bedrooms homes went down by 50%, 4 bedrooms homes inventory did not change, number of 5 bedrooms homes remained the same. Over 2 listings were sold over their listed price in November 2022 in Otisco, NY. In the same period over 0 listings were sold below the listed price and 0 listings were sold for the listed price.

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