Otter Tail County Real Estate Market Report
Updated October 8, 2020—
The median home value of single-family homes and condos in Otter Tail County is $242,848. This value is seasonally adjusted to remove outliers and only includes the middle price-tier of homes. Otter Tail County home values have gone up 1.8% over the past year and Zillow predicts they will rise 4.0% within the next year. This forecast represents quite an increase over last month.
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 for Now
Even with a pandemic and economic uncertainty, home values remain strong in Otter Tail County and most of Minnesota. With inventory for sale relatively low, and demand remaining fairly high, we will continue to see a market favoring sellers. However, with historically low interest rates, buyers may pay a little more, but their monthly payments are the same or less than when interest rates were higher.
Take away: If you are thinking about selling, contact us immediately. If you are buying, we can help you with alerts as soon as a new property hits the market, because you will have to move fast when you find the right home.
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 Thursday, October 08, 2020, according to Bankrate’s latest survey of the nation’s largest mortgage lenders, the benchmark 30-year fixed mortgage rate is 3.050% with an APR of 3.360%. The average 15-year fixed mortgage rate is 2.560% with an APR of 2.870%. The 5/1 adjustable-rate mortgage (ARM) rate is 3.090% with an APR of 4.040%.
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.
