The median home value in Otter Tail County is $182,000. Otter Tail County home values have gone up 4.5% over the past year and Zillow predicts they will rise 1.3% within the next year. The median list price per square foot in Otter Tail County is $93, which is the same as the Fergus Falls Metro average of $93. The median price of homes currently listed in Otter Tail County is $213,000. Note this does not include listings outside of the MLS.
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Market Temperature- Warm for Sellers, Good for Buyers too
Home sales in the region are still favorable for sellers. While prices are not rising as sharply as the past few years, Zillow still predicts a modest rise. The median price per square foot saw a 5% rise and inventory remains low.
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.
The FED and Interest Rates
The rate on the 30-year fixed mortgage rate was reduced more than one percentage point, to 3.75% at the end of July, according to Freddie Mac. This low rate was expected to spark a flurry of refinancing and home buying. But rising prices and low inventory means no boom so far.
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From the MN Department of Revenue
Property Tax Division audit of 2018 property values:
In case you missed it…no adjustments were made by the State to County assessed values in Otter Tail County. OTC Land value: $3,100 acre tillable, $1,500 acre non-tillable.
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