Otsego Real Estate Market Report: November 2024
In November 2024, the median sale price in Otsego was $394,950, down 1.2% from a year earlier.
- Median Sales Price
- $394,950
- -1.2% vs. November 2023
- Homes for Sale
- 96
- -2% vs. November 2023
- Months Supply
- 3
- +25% vs. November 2023
- Balanced market
- Days on Market
- 56
- +75% vs. November 2023
- Closed Sales
- 30
- -38.8% vs. November 2023
- Percent of Original List Received
- 97.4%
- +3.1 pts vs. November 2023
What this means
The median sale price has decreased by 1% from last year to $394,950, though an opposite trend in price per square foot suggests this change more likely reflects the mix of homes that sold.
Homes are selling 24 days longer than last year, averaging 56 days on market, and sellers are receiving 97.4% of their original asking price.
The area is currently a balanced market with 3 months of supply. Active inventory is down 2% from last year to 96 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 November 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 96 homes for sale.
How fast are homes selling in Otsego?
Homes that sold in November 2024 spent an average of 56 days on market, 24 days slower than a year earlier. Sellers received 97.4% of their original list price on average.
Are home prices going up in Otsego?
No. The median sale price fell 1.2% year over year to $394,950. Price per square foot moved the other way (from $185 to $188), 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 |
| November 2024 | $394,950 | 30 | 56 | 3 |
How Otsego compares with the Twin Cities region
In November 2024, the median sale price in Twin Cities (16-County Region) was $376,000.
More to explore
Data: NorthstarMLS Local Market Update via 10K Research, published September 4, 2026.
Report published .
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