Is Otis, OR a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since Last Month
Since last month, Otis has remained a Buyer's Market.
Key Takeaway
Otis is a Buyers Housing Market, which means prices tend to be lower and homes stay on the market longer.
Housing Prices in Otis, OR
How much do homes in Otis, OR cost?
Median Sold Price
$425,000
$312/sqft
Based on all homes sold in March 2024.
Difference Since Last Month
Key Takeaway
Homes in Otis have sold for 46.9% less than they did a month ago.
Summary: The median home sold price in Otis was $425,000 in March 2024, down 46.9% from last month, and the median price per square foot was $312.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | - | N/A |
| 2 Bedrooms | - | $425K | N/A |
| 3 Bedrooms | - | - | N/A |
| 4 Bedrooms | $800K | - | N/A |
| 5+ Bedrooms | - | - | N/A |
Summary: Otis housing prices by bedroom type for March 2024 compared to the previous month: The home price of 1 bedroom homes did not change, 2 bedroom homes did not change, 3 bedroom homes did not change, 4 bedroom homes did not change, and 5+ bedroom homes did not change.
Median Sold Price Compared To Nearby Cities
| Grand Ronde | $500K | $330K | -34.0% |
| Otis | $800K | $425K | -46.9% |
Housing Supply in Otis, OR
How many homes are available in Otis, OR?
Number of Homes For Sale
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 17 | 18 | +5.9% |
Summary: The Otis real estate market had 18 homes for sale in March 2024, a 5.9% increase compared to February 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 0 | 0 | 0.0% |
| 2 Bedrooms | 3 | 5 | +66.7% |
| 3 Bedrooms | 5 | 5 | 0.0% |
| 4 Bedrooms | 8 | 7 | -12.5% |
| 5+ Bedrooms | 1 | 1 | 0.0% |
Summary: The Otis housing inventory by bedroom type for March 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes increased by 66.7%, 3 bedroom homes remained the same, 4 bedroom homes decreased by 12.5%, and 5+ bedroom homes remained the same.
Number of Homes Sold
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 1 | 1 | 0.0% |
Asking Price vs. Sold Price
0 Homes Were Sold
Under Asking
0 Homes Were Sold
At Asking
1 Home Was Sold
Over Asking
Key Takeaway
If you're buying a home in Otis, you could pay more than the asking price. 100% of homes here sold above asking price last month.
Summary: A total of 1 homes were sold or pending in Otis in March 2024, the same as the previous month. Of the 1 sold homes, 0% were sold under asking, 0% were sold at asking, and 100% were sold over asking.
Days on Market for Otis, OR
How long does it take to sell a home in Otis, OR?
Average Sale Time
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 268 Days | 6 Days | -97.8% |
Summary: Homes in Otis had an average of 6 days on market in Mar 2024, down by 97.8% compared to last month.
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 Otis are selling fast, if you're buying plan to act quickly.
Summary: During March 2024, 1 homes were sold in Otis; 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.
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