Otsego County Housing Market

The number of homes sold in Otsego County rose 12.5 percent year to date through early December 2009 when compared to the same time period of 2008. “So, despite the slumping economy, homes are selling,” said Bill Martella, Associate Broker, Branch Manager of Coldwell Banker Schmidt Realtors of Gaylord.

The number of homes currently for sale in Otsego County is down to 455 from more than 500 at this time last year, and the average days on market that it is taking for a home to sell in our county is stable and still around 180. These are good indications that the housing market is starting to recover. The negative statistic is that the prices that homes are selling for in Otsego County are falling. The average sales price is down 20 to 30 percent influenced by the rash of foreclosures that we have seen in the state and nationwide.

Otsego County leads the Northern Michigan counties represented in the Water Wonderland Board of Realtors multi listing service in the number of homes sold year to date with 283, followed by Cheboygan with 230 and Crawford with 137.

Otsego County Housing Statistics

• Number of homes for sale: 455
• Number of homes sold through mid-December 2009: 283
• Average days on market: 176
• Average sale price: $101,507

Source: Water Wonderland Board of Realtors

Guide 2010 » Real Estate