Otsego Real Estate Market Report: July 2024
In July 2024, the median sale price in Otsego was $425,000, essentially unchanged from a year earlier.
- Median Sales Price
- $425,000
- +0% vs. July 2023
- Homes for Sale
- 93
- -12.3% vs. July 2023
- Months Supply
- 2.7
- +3.8% vs. July 2023
- Seller's market
- Days on Market
- 43
- +0% vs. July 2023
- Closed Sales
- 33
- -23.3% vs. July 2023
- Percent of Original List Received
- 98.4%
- -1.7 pts vs. July 2023
What this means
Home values are holding steady within one percent of last year, with a median sale price of $425,000.
Homes are averaging 43 days on market, in line with last year, and sellers are receiving 98.4% of their original asking price.
The area is currently a seller's market with 2.7 months of supply. Active inventory is down 12% from last year to 93 homes for sale.
In this seller's market, buyers should be prepared to act quickly, while sellers can generally expect strong interest if priced correctly.
Common questions about the Otsego market
Is Otsego a buyer's or seller's market?
Otsego was a seller's market in July 2024, with 2.7 months of supply. Under about 3 months generally favors sellers, 3 to 6 months is considered balanced, and over 6 months favors buyers. There were 93 homes for sale.
How fast are homes selling in Otsego?
Homes that sold in July 2024 spent an average of 43 days on market, about the same as a year earlier. Sellers received 98.4% of their original list price on average.
Are home prices going up in Otsego?
Prices were essentially flat, with a median sale price of $425,000.
Market trends in Otsego
| Month | Median sale price | Closed sales | Days on market | Months supply |
|---|---|---|---|---|
| July 2023 | $425,000 | 43 | 43 | 2.6 |
| August 2023 | $405,000 | 49 | 34 | 2.2 |
| September 2023 | $416,709 | 34 | 36 | 2.5 |
| October 2023 | $446,055 | 39 | 48 | 2.4 |
| November 2023 | $399,900 | 49 | 32 | 2.4 |
| December 2023 | $356,250 | 16 | 36 | 1.9 |
| January 2024 | $390,000 | 19 | 59 | 2.2 |
| February 2024 | $427,495 | 34 | 63 | 2.3 |
| March 2024 | $422,495 | 36 | 72 | 2.2 |
| April 2024 | $429,900 | 47 | 54 | 2.3 |
| May 2024 | $452,500 | 34 | 45 | 2.1 |
| June 2024 | $410,000 | 40 | 40 | 2.7 |
| July 2024 | $425,000 | 33 | 43 | 2.7 |
More to explore
Data: NorthstarMLS Local Market Update via 10K Research, published September 4, 2026.
Report published .
Get the Otsego market report every month
We will email you the monthly numbers and what they mean for buyers and sellers.