Is Otsego County, NY 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, Otsego County has remained a Buyer's Market.
Housing Prices in Otsego County, NY
How much do homes in Otsego County, NY cost?
Median Sold Price
$226,500
$120/sqft
Based on all homes sold in April 2024.
Difference Since Last Month
Summary: The median home sold price in Otsego County was $226,500 in April 2024, up 34% from last month, and the median price per square foot was $120.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | Mar 2024 | Apr 2024 | CHANGE |
---|---|---|---|
1 Bedroom | - | $125K | N/A |
2 Bedrooms | $160K | $22K | -86.3% |
3 Bedrooms | $127.3K | $161K | +26.4% |
4 Bedrooms | $219K | $307K | +40.2% |
5+ Bedrooms | $233K | $295.5K | +26.8% |
Summary: Otsego County housing prices by bedroom type for April 2024 compared to the previous month: The home price of 1 bedroom homes did not change, 2 bedroom homes decreased by 86.3%, 3 bedroom homes increased by 26.4%, 4 bedroom homes increased by 40.2%, and 5+ bedroom homes increased by 26.8%.
Median Sold Price Compared To Nearby Counties
Otsego County | $169K | $226.5K | +34.0% |
Chenango County | $171.5K | $175K | +2.0% |
Housing Supply in Otsego County, NY
How many homes are available in Otsego County, NY?
Number of Homes For Sale
Mar 2024 | Apr 2024 | CHANGE |
---|---|---|
205 | 209 | +2.0% |
Summary: The Otsego County real estate market had 209 homes for sale in April 2024, a 2.0% increase compared to March 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Mar 2024 | Apr 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 3 | 6 | +100.0% |
2 Bedrooms | 23 | 23 | 0.0% |
3 Bedrooms | 77 | 82 | +6.5% |
4 Bedrooms | 55 | 52 | -5.5% |
5+ Bedrooms | 47 | 46 | -2.1% |
Summary: The Otsego County 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 increased by 6.5%, 4 bedroom homes decreased by 5.5%, and 5+ bedroom homes decreased by 2.1%.
Number of Homes Sold
Mar 2024 | Apr 2024 | CHANGE |
---|---|---|
21 | 28 | +33.3% |
Asking Price vs. Sold Price
16 Homes Were Sold
Under Asking
5 Homes Were Sold
At Asking
7 Homes Were Sold
Over Asking
Summary: A total of 28 homes were sold or pending in Otsego County in April 2024, up by 33.3% month-over-month. Of the 28 sold homes, 57% were sold under asking, 18% were sold at asking, and 25% were sold over asking.
Days on Market for Otsego County, NY
How long does it take to sell a home in Otsego County, NY?
Average Sale Time
Mar 2024 | Apr 2024 | CHANGE |
---|---|---|
71 Days | 76 Days | +6.8% |
Summary: Homes in Otsego County had an average of 76 days on market in Apr 2024, up by 6.8% compared to last month.
Breakdown of Home Sale Times
14 Homes Were Sold
Under 30 Days
6 Homes Were Sold
In 30 - 90 Days
8 Homes Were Sold
Over 90 Days
Summary: During April 2024, 28 homes were sold in Otsego County; 50% of homes were sold within 30 days, 21% of homes were sold within 30 to 90 days, and 29% of homes were sold over 90 days.