Otsego Lake Township Housing Market Report February 2025•Otsego County, Michigan

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Housing Prices in Otsego Lake Township, MI

How much do homes in Otsego Lake Township, MI cost?

Housing Market Conditions

Is Otsego Lake Township, MI a buyer’s or seller’s market?

Housing Market Conditions

This is the supply and demand for houses in an area based on home prices and trends.

Buyer’s Market

A buyer’s market occurs when the number of available properties for sale exceeds the number of buyers looking to purchase. In a buyer’s market, the supply exceeds the demand.

Neutral Market

A neutral market occurs when the number of buyers looking to purchase properties meets the number of available properties for sale. In a balanced market, there are enough homes to meet the demand.

Seller’s Market

A seller’s market occurs when there are more buyers looking to purchase properties than there are available homes on the market. In a seller’s market, the demand exceeds the supply.

Seller'sMarket

Buyer'sMarket

Otsego Lake Township is a Neutral Market

Difference Since February 2024

At the same time last year, Otsego Lake Township was a Seller's Market.

Insight

Otsego Lake Township is a Neutral Housing Market, which means prices tend to be reasonable and homes stay on the market for a typical length of time.

Median Sold Price

Median Sold Price
This is the middle price for which all homes in the area were sold. Half of all the homes sold were below this price, and half were above.
$319,000$142/SqFt
+$52,000
+19.5%

Based on all homes sold in the last 12 months

Insight

Homes in Otsego Lake Township have sold for 19.5% more than they did a year ago.

Summary: The median home sold price in Otsego Lake Township was $319,000 in February 2025, up 19.5% from last year, and the median price per square foot was $142.

Median Sold Price By Cities

Median Sold Price By Cities
This is the middle price for which all homes in the area were sold compared to surrounding cities. Half of all the homes sold were below this price, and half were above.
CityChange YoY
Chester Township
+47.4%
Otsego Lake Township
+19.5%
Frederic
+18.8%
Bagley Township
+3.3%

Median Sold Price By Bedrooms

Median Sold Price By Bedrooms
This is the middle price for all homes actively listed in an area broken out by the number of bedrooms. Half of the homes are listed below this price, and half are above.
BedsFeb 2024Feb 2025Change YoY
1$60K$20K
-66.7%
2$235K$255.7K
+8.8%
3$275K$314.9K
+14.5%
4$261K$410K
+57.1%
5$257K$675K
+162.6%

Summary: Otsego Lake Township housing price by bedroom type for February 2025, compared to the previous year. The home price for 1 bedroom homes decreased by -66.7%. The home price for 2 bedroom homes increased by +8.8%. The home price for 3 bedroom homes increased by +14.5%. The home price for 4 bedroom homes increased by +57.1%. The home price for 5 bedroom homes increased by +162.6%.

How does Otsego Lake Township, MI compare with other places?

Market comparison tool

Data and numbers shown are subject to change and may vary based on different timeframes.

Otsego Lake Township, MI

Housing supply in Otsego Lake Township, MI

How many homes are available in Otsego Lake Township, MI?

Number of Homes For Sale

Number of Homes For Sale
This is the total number of homes actively listed in an area.
Last Month2 months agoChange MoM
13Last MonthFeb 2025
162 months agoJan 2025
-18.8 %
Change MoMJan – Feb

Summary: The Otsego Lake Township real estate market had 13 homes for sale in Feb 2025, a 18.8 % decrease compared to Jan 2025.

Number of Homes Sold

Number of Homes Sold
This is the total number of both homes sold and pending in an area.
Last Month2 months agoChange MoM
2Last MonthFeb 2025
52 months agoJan 2025
-60.0 %
Change MoMJan – Feb

Homes For Sale By Bedroom Count

Homes For Sale By Bedroom Count
This is the total number of homes actively listed in an area by number of bedrooms.
BedsJan 2025Feb 2025Change MoM
100
0.0%
200
0.0%
3128
-33.3%
433
0.0%
512
+100.0%

Summary: Otsego Lake Township housing inventory by bedroom type for February 2025, compared to the previous month. The inventory for 1 bedroom homes remained the same. The inventory for 2 bedroom homes remained the same. The inventory for 3 bedroom homes decreased by -33.3%. The inventory for 4 bedroom homes remained the same. The inventory for 5 bedroom homes increased by +100.0%.

Asking Price vs. Sold Price

How much do homes in Otsego Lake Township, MI cost?

Asking Price vs. Sold Price

The asking price is how much a home is listed for. The selling price is how much the home actually sold for.

Under Asking

Homes that sold for less than the asking price

At Asking

Homes that sold at their asking price

Over Asking

Homes that sold above the asking price

Over Asking Price0 Home

At Asking Price1 Home

Under Asking Price1 Home

Insight

If you're buying a home in Otsego Lake Township, you may be able to get a good deal. 50% of homes here sold below asking price last month.

Summary: A total of 2 homes were sold or pending in Otsego Lake Township in February 2025, down by 60.0% month-over-month. Of the 2 sold homes, 50% were sold under asking, 50% were sold at asking, and and 0% were sold over asking.

Days on Market for Otsego Lake Township, MI

How long does it take to sell a home in Otsego Lake Township, MI?

Breakdown of Home Sale Times

Under 30 Days1 Home

30 – 90 Days0 Home

Over 90 Days0 Home

Insight

Many homes in Otsego Lake Township are selling fast, if you're buying plan to act quickly.

Summary: During February 2025, 2 homes were sold in Otsego Lake Township; 50% of homes were sold within 30 days, 0% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.

Average Sale Time

Average Sale Time
This is the average number of days homes take to sell in an area.
This Year1 year agoChange YoY
6 DaysThis YearFeb 2025
0 Days1 year agoFeb 2024
0.0 %
Change YoYFeb 2024 – Feb 2025

Summary: Homes in Otsego Lake Township had an average listing age of 6 days in Feb 2025, down by .0% compared to the previous year.

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Newest Listings in Otsego Lake Township, MI

What homes are available in Otsego Lake Township, MI?

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Nearby markets

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MLS Disclaimers and Copyright

Based on information from Water Wonderland MLS Inc., Northern Great Lakes Realtors MLS, Northern Michigan MLS, Michigan Regional Information Center LLC, and MiRealSource Inc. DL for the period 03/01/2023 - 03/01/2025

IDX © 2025 Water Wonderland MLS, Inc © All rights reserved. The data relating to real estate on this web site comes in part from the Internet Data Exchange Program of the Water Wonderland MLS (WWLX). Real estate listings held by brokerage firms other than this broker are marked with the WWLX logo and the detailed information about said listing includes the listing office.The listings displayed come from various Water Wonderland Board of REALTORS® member offices who have chosen to participate in WWBR. The information being provided is for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. All information deemed reliable but not guaranteed and should be independently verified. All properties are subject to prior sale, change or withdrawal. Neither the site hosting broker(s), nor the listing broker or Water Wonderland Board of REALTORS® shall be responsible for any typographical errors, misinformation, misprints, and shall be held totally harmless.
Data displayed may be a portion of, and not a complete set of all listings published in the MLS.
Last updated on: 3/15/2025, 12:50:57 AM Eastern. If you have any questions regarding the accuracy of this data, please contact us at help@rockethomes.com.
Copyright © 2025 Northern Great Lakes REALTORS® MLS™ All Rights Reserved. IDX information is provided exclusively for consumers’ personal, non-commercial use, that it may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. The accuracy of all information, regardless of source, is not guaranteed or warranted. All information should be independently verified.
Data displayed may be a portion of, and not a complete set of all listings published in the MLS.
Last updated on: 3/15/2025, 12:55:50 AM Eastern. If you have any questions regarding the accuracy of this data, please contact us at help@rockethomes.com.
IDX The data relating to real estate on this web site comes in part from the Internet Data Exchange Program of the Northern Michigan MLS (NM-MLS). The listings displayed come from various NM-MLS. member offices who have chosen to participate in NM-MLSX IDX, the detailed information The information being provided is for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing about said listings includes the listing office information. All information deemed reliable but not guaranteed and should be independently verified. All properties are subject to prior sale, change or withdrawal. Neither the site hosting broker(s), nor the listing broker or NM-MLS, or this broker shall be responsible for any typographical errors, misinformation, misprints, and shall be held totally harmless. © 2025 NM-MLS. All rights reserved
Data displayed may be a portion of, and not a complete set of all listings published in the MLS.
Last updated on: 3/15/2025, 12:55:48 AM Eastern. If you have any questions regarding the accuracy of this data, please contact us at help@rockethomes.com.
Broker Reciprocity Disclaimer: Information deemed reliable, but not guaranteed. All properties are subject to prior sale, change or withdrawal. Neither listing broker(s) nor this broker shall be responsible for any typographical errors, misinformation, misprints and shall be held totally harmless. The data relating to real estate for sale on this website comes in part from the Broker Reciprocity Program of MichRIC, LLC. Real estate listings held by brokerage firms other than this broker are marked with the BR logo and detailed information includes the name of the listing broker. Copyright 2025 Grand Rapids Association of REALTORS® / Copyright © MichRIC, LLC. / MLS Exchange Inc. All rights reserved.
Data displayed may be a portion of, and not a complete set of all listings published in the MLS.
Last updated on: 3/15/2025, 12:50:55 AM Eastern. If you have any questions regarding the accuracy of this data, please contact us at help@rockethomes.com.
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The information published and disseminated by the Originating MLS is communicated verbatim, without change by the Originating MLS, as filed with it by its members. The accuracy of all information, regardless of source, is not guaranteed or warranted. All information should be independently verified.
Data displayed may be a portion of, and not a complete set of all listings published in the MLS.
Last updated on: 3/15/2025, 12:55:52 AM Eastern. If you have any questions regarding the accuracy of this data, please contact us at help@rockethomes.com.