Otsego Real Estate Market Report: September 2024
In September 2024, the median sale price in Otsego was $364,950, down 12.4% from a year earlier.
- Median Sales Price
- $364,950
- -12.4% vs. September 2023
- Homes for Sale
- 97
- -4.9% vs. September 2023
- Months Supply
- 3
- +20% vs. September 2023
- Balanced market
- Days on Market
- 43
- +19.4% vs. September 2023
- Closed Sales
- 30
- -11.8% vs. September 2023
- Percent of Original List Received
- 98.5%
- +0.2 pts vs. September 2023
What this means
The median sale price has decreased by 12% from last year to $364,950, though an opposite trend in price per square foot suggests this change more likely reflects the mix of homes that sold.
Homes are selling 7 days longer than last year, averaging 43 days on market, and sellers are receiving 98.5% of their original asking price.
The area is currently a balanced market with 3 months of supply. Active inventory is down 5% from last year to 97 homes for sale.
In a balanced market, neither side has a steep advantage, making careful pricing for sellers and steady negotiation for buyers the key to success.
Common questions about the Otsego market
Is Otsego a buyer's or seller's market?
Otsego was a balanced market in September 2024, with 3 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 97 homes for sale.
How fast are homes selling in Otsego?
Homes that sold in September 2024 spent an average of 43 days on market, 7 days slower than a year earlier. Sellers received 98.5% of their original list price on average.
Are home prices going up in Otsego?
No. The median sale price fell 12.4% year over year to $364,950. Price per square foot moved the other way (from $191 to $204), which suggests the change mostly reflects the mix of homes sold.
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 |
| August 2024 | $396,000 | 32 | 34 | 3.1 |
| September 2024 | $364,950 | 30 | 43 | 3 |
How Otsego compares with the Twin Cities region
In September 2024, the median sale price in Twin Cities (16-County Region) was $379,999.
More to explore
Data: NorthstarMLS Local Market Update via 10K Research, published September 4, 2026.
Report published .
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