Otsego Real Estate Market Report: October 2024
In October 2024, the median sale price in Otsego was $400,000, down 10.3% from a year earlier.
- Median Sales Price
- $400,000
- -10.3% vs. October 2023
- Homes for Sale
- 83
- -14.4% vs. October 2023
- Months Supply
- 2.5
- +4.2% vs. October 2023
- Seller's market
- Days on Market
- 37
- -22.9% vs. October 2023
- Closed Sales
- 32
- -17.9% vs. October 2023
- Percent of Original List Received
- 98.7%
- +1.6 pts vs. October 2023
What this means
The median sale price has decreased by 10% from last year to $400,000, though an opposite trend in price per square foot suggests this change more likely reflects the mix of homes that sold.
Homes are selling 11 days more quickly than last year, averaging 37 days on market, and sellers are receiving 98.7% of their original asking price.
The area is currently a seller's market with 2.5 months of supply. Active inventory is down 14% from last year to 83 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 October 2024, with 2.5 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 83 homes for sale.
How fast are homes selling in Otsego?
Homes that sold in October 2024 spent an average of 37 days on market, 11 days faster than a year earlier. Sellers received 98.7% of their original list price on average.
Are home prices going up in Otsego?
No. The median sale price fell 10.3% year over year to $400,000. Price per square foot moved the other way (from $196 to $199), 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 |
| October 2024 | $400,000 | 32 | 37 | 2.5 |
How Otsego compares with the Twin Cities region
In October 2024, the median sale price in Twin Cities (16-County Region) was $381,950.
More to explore
Data: NorthstarMLS Local Market Update via 10K Research, published September 4, 2026.
Report published .
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