Otsego Real Estate Market Report: December 2024
In December 2024, the median sale price in Otsego was $379,900, up 6.6% from a year earlier.
- Median Sales Price
- $379,900
- +6.6% vs. December 2023
- Homes for Sale
- 81
- +5.2% vs. December 2023
- Months Supply
- 2.5
- +31.6% vs. December 2023
- Seller's market
- Days on Market
- 48
- +33.3% vs. December 2023
- Closed Sales
- 21
- +31.3% vs. December 2023
- Percent of Original List Received
- 96.2%
- -0.7 pts vs. December 2023
What this means
The median sale price has increased by 7% from last year to $379,900, though an opposite trend in price per square foot suggests this change more likely reflects the mix of homes that sold.
Homes are selling 12 days longer than last year, averaging 48 days on market, and sellers are receiving 96.2% of their original asking price.
The area is currently a seller's market with 2.5 months of supply. Active inventory is up 5% from last year to 81 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 December 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 81 homes for sale.
How fast are homes selling in Otsego?
Homes that sold in December 2024 spent an average of 48 days on market, 12 days slower than a year earlier. Sellers received 96.2% of their original list price on average.
Are home prices going up in Otsego?
Yes. The median sale price rose 6.6% year over year to $379,900. Price per square foot moved the other way (from $196 to $190), 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 |
| December 2024 | $379,900 | 21 | 48 | 2.5 |
How Otsego compares with the Twin Cities region
In December 2024, the median sale price in Twin Cities (16-County Region) was $370,000.
More to explore
Data: NorthstarMLS Local Market Update via 10K Research, published September 4, 2026.
Report published .
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