Otter Lake Housing Market Report May 2025•Lapeer County, Michigan

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Housing Prices in Otter Lake, MI

How much do homes in Otter Lake, MI cost?

Housing Market Conditions

Is Otter Lake, 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

Otter Lake is a Seller's Market

Difference Since May 2024

Since last year, Otter Lake has remained a Seller's Market.

Insight

Otter Lake is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.

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.
$273,500$150/SqFt
+$44,750
+19.6%

Based on all homes sold in the last 12 months

Insight

Homes in Otter Lake have sold for 19.6% more than they did a year ago.

Summary: The median home sold price in Otter Lake was $273,500 in May 2025, up 19.6% from last year, and the median price per square foot was $150.

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
Otter Lake
+19.6%
Forest Township
+14.1%
Marathon Township
+6.7%

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.
BedsMay 2024May 2025Change YoY
1$97K$225K
+132.0%
2$240K$232.5K
-3.1%
3$210K$280K
+33.3%
4$291.2K$526K
+80.6%
5$255K$285K
+11.8%

Summary: Otter Lake housing price by bedroom type for May 2025, compared to the previous year. The home price for 1 bedroom homes increased by +132.0%. The home price for 2 bedroom homes decreased by -3.1%. The home price for 3 bedroom homes increased by +33.3%. The home price for 4 bedroom homes increased by +80.6%. The home price for 5 bedroom homes increased by +11.8%.

How does Otter Lake, MI compare with other places?

Market comparison tool

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

Otter Lake, MI

Housing supply in Otter Lake, MI

How many homes are available in Otter Lake, 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
8Last MonthMay 2025
62 months agoApr 2025
+33.3 %
Change MoMApr – May

Summary: The Otter Lake real estate market had 8 homes for sale in May 2025, a 33.3 % increase compared to Apr 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 MonthMay 2025
22 months agoApr 2025
0.0 %
Change MoMApr – May

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.
BedsApr 2025May 2025Change MoM
100
0.0%
213
+200.0%
344
0.0%
411
0.0%
500
0.0%

Summary: Otter Lake housing inventory by bedroom type for May 2025, compared to the previous month. The inventory for 1 bedroom homes remained the same. The inventory for 2 bedroom homes increased by +200.0%. The inventory for 3 bedroom homes remained the same. The inventory for 4 bedroom homes remained the same. The inventory for 5 bedroom homes remained the same.

Asking Price vs. Sold Price

How much do homes in Otter Lake, 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 Price1 Home

At Asking Price0 Home

Under Asking Price1 Home

Insight

If you're buying a home in Otter Lake, 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 Otter Lake in May 2025, the same as the previous month. Of the 2 sold homes, 50% were sold under asking, 0% were sold at asking, and and 50% were sold over asking.

Days on Market for Otter Lake, MI

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

Breakdown of Home Sale Times

Under 30 Days1 Home

30 – 90 Days0 Home

Over 90 Days1 Home

Insight

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

Summary: During May 2025, 2 homes were sold in Otter Lake; 50% of homes were sold within 30 days, 0% of homes were sold within 30 to 90 days, and 50% 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
66 DaysThis YearMay 2025
6 Days1 year agoMay 2024
+1008.3 %
Change YoYMay 2024 – May 2025

Summary: Homes in Otter Lake had an average listing age of 66 days in May 2025, up by 1008.3% compared to the previous year.

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Newest Listings in Otter Lake, MI

What homes are available in Otter Lake, MI?

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Nearby markets

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MLS Disclaimers and Copyright

Based on information from RealComp II Ltd., for the period 06/01/2023 - 06/01/2025

IDXDisclaimer: The data relating to real estate on this web site comes in part from the IDX of Realcomp II Ltd. The accuracy of all information, regardless of source, is not guaranteed or warranted. All information should be independently verified.

IDX information is provided exclusively 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. Any use of search facilities of data on the site, other than by a consumer looking to purchase real estate, is prohibited.

IDX provided courtesy of Realcomp II Ltd. Copyright © 2025 Realcomp II Ltd. Shareholders. All rights reserved. Originating MLS shown with each listing detail.
Data displayed may be a portion of, and not a complete set of all listings published in the MLS.
Last updated on: 6/24/2025, 7:45:31 AM Eastern. If you have any questions regarding the accuracy of this data, please contact us at help@rockethomes.com.