Welcome to March's Market Update. Lets take a look at residential real-estate activity in your area during the month of February. The number of active listings was down 7% from one year earlier, and down 12% from the previous month. This smaller inventory means that buyers who waited to buy may have had a smaller selection to choose from. As you can see, the median listing price for the month was just over 160-thousand dollars. Compared to last year, the average number of days units spent on the market before being sold was down 52%. This lower number of days may signal a positive trend in the local inventory-turnover rate. The median sale price was just over 120-thousand dollars. The number of units sold increased 29% year-over-year, and increased 13% month-over-month. These figures may indicate that buyers have been taking advantage of opportunities in this market. Thanks for watching. We hope you use this information to make smart, informed decisions in your upcoming real-estate transactions. Feel free to contact us for more information or further assistance.
Map Information for Otsego, MI
Area Information for Otsego, MI
Median Age:39.05 yr
Median Commute Time:21 mins
Population Density:2,046/sq mi
Population Change Since 2000:1.61%
Closest Airport:Kalamazoo/battle Creek International
Proximity to listed schools and their school district(s) does not guarantee enrollment eligibility. Please contact a local real estate professional or the local school district(s) for the most current information relating to schools in the area.