Is Otisville, MI a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since April 2023
Since last year, 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
$178,150
$141/sqft
Based on all homes sold in the last 12 months.
Difference Since April 2023
Key Takeaway
The sold price of homes in Otisville has remained the same since last year.
Summary: The median home sold price in Otisville was $178,150 in April 2024, up 0.4% from last year, and the median price per square foot was $141.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $65K | $325K | +400.0% |
| 2 Bedrooms | $150.5K | $140K | -7.0% |
| 3 Bedrooms | $174.7K | $174K | -0.4% |
| 4 Bedrooms | $205K | $256K | +24.9% |
| 5+ Bedrooms | - | $299.9K | N/A |
Summary: Otisville housing prices by bedroom type for April 2024 compared to the previous year: The home price of 1 bedroom homes increased by 400%, 2 bedroom homes decreased by 7%, 3 bedroom homes decreased by 0.4%, 4 bedroom homes increased by 24.9%, and 5+ bedroom homes did not change.
Median Sold Price Compared To Nearby Cities
| Otisville | $177.5K | $178.1K | 0.4% |
| Forest Township | $183K | $178.1K | -2.7% |
Housing Supply in Otisville, MI
How many homes are available in Otisville, MI?
Number of Homes For Sale
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 6 | 8 | +33.3% |
Summary: The Otisville real estate market had 8 homes for sale in April 2024, a 33.3% increase compared to March 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 0 | 0 | 0.0% |
| 2 Bedrooms | 1 | 2 | +100.0% |
| 3 Bedrooms | 2 | 4 | +100.0% |
| 4 Bedrooms | 3 | 2 | -33.3% |
| 5+ Bedrooms | 0 | 0 | 0.0% |
Summary: The Otisville housing inventory by bedroom type for April 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes increased by 100%, 3 bedroom homes increased by 100%, 4 bedroom homes decreased by 33.3%, and 5+ bedroom homes remained the same.
Number of Homes Sold
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 2 | 2 | 0.0% |
Asking Price vs. Sold Price
0 Homes Were Sold
Under Asking
0 Homes Were Sold
At Asking
2 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Otisville, you could pay more than the asking price. 100% of homes here sold above asking price last month.
Summary: A total of 2 homes were sold or pending in Otisville in April 2024, the same as the previous month. Of the 2 sold homes, 0% were sold under asking, 0% were sold at asking, and 100% 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
| Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|
| 3 Days | 2 Days | -28.6% |
Summary: Homes in Otisville had an average of 2 days on market in Apr 2024, down by 28.6% compared to last year.
Breakdown of Home Sale Times
2 Homes Were Sold
Under 30 Days
0 Homes Were Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Otisville are selling fast, if you're buying plan to act quickly.
Summary: During April 2024, 2 homes were sold in Otisville; 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.
