fbpx

Market ReportUpdated July 6, 2020

The median home value in Otter Tail County is $240,622. Otter Tail County home values have gone up 3.0% over the past year and Zillow predicts they will fall -2.4% within the next year. The median list price per square foot in Otter Tail County is $188, which is the same as the Fergus Falls Metro average of $188. The median price of homes currently listed in Otter Tail County is $217,900 while the median price of homes that sold is $178,000.

Would you like a detailed report of listings and sales in your neighborhood, or perhaps one you would like to move to? Email us at info@homesandlakeshore.com or use the contact form – we’d love to help.

Market Temperature- Hot for Sellers, Good for Buyers too

Otter Tail County is currently still a hot seller’s market, however, with slightly lower home values and record low interest rates, it is also an opportune time to buy. The market temperature is based on three metrics: the list-to-sale price ratio, the prevalence of price cuts on home listings, and time-on-market. It provides information on the current balance of bargaining power between buyers and sellers in this region relative to that balance historically, enabling buyers and sellers to see trends in their local housing market temperature.

Take away: It’s a good time to sell. However, with historically low mortgage interest rates and list prices closer to sale prices, it’s also a good time to buy.

View Otter Tail County Homes for Sale

Market Details

Looking for information Grant or Douglas County? We’ve got you covered. Browse listings by County or City. Or drop us a line- we would be happy to provide a custom report.

Interest Rates

On Monday, July 06, 2020, according to Bankrate’s latest survey of the nation’s largest mortgage lenders, the benchmark 30-year fixed mortgage rate is 3.250% with an APR of 3.530%. The average 15-year fixed mortgage rate is 2.750% with an APR of 3.070%. The 5/1 adjustable-rate mortgage (ARM) rate is 3.120% with an APR of 3.870%.

Keller Williams Zero Plus Financing for Customers

KW customers benefit most by saving thousands with the ZeroPlus Loan. We eliminate traditional costs and pass the savings directly to the consumer, at the same low rate! Applicable on new loans and refinancing!

 Zero Origination Fee

 Zero Lender Fees

 Plus $1,000 at Closing
*Towards 3rd Party Costs

 Plus A Low Rate
*$1,000 closing credit on loans $150k +

With the super low interest rates we are seeing, what are you waiting for?
Check out a Zero Plus loan today!

Otter Tail County Median Property Tax

The median property tax in Otter Tail County, Minnesota is $1,046 per year for a home worth the median value of $158,600. Otter Tail County collects, on average, 0.66% of a property’s assessed market value as property tax.

Want this report delivered to your inbox monthly?

Just sign up using our contact form and you will notification of our monthly market report delivered to your email.

Summary
Otter Tail County Real Estate Market Report
Article Name
Otter Tail County Real Estate Market Report
Description
Otter Tail and surrounding MN counties real estate statistics including home values, median list and sales prices, current interest rates, updated monthly!
Author