There are a total of 138 Single Family homes currently listed for sale on the MLS in Otsego, Minnesota (as of 12/30/07). The average list price is $308,482 - however, that average is weighted by several homes/farms/large properties in listed over $750,000. If you throw out these large properties and look at the median price, it is $287,692.
November Statistics:
When compared to the same time last year, the number of new listings in Otsego was up 2.8% and the average sale price was up 6.4%. However, the number of closed sales (homes sold) fell by 51.9% and not surprisingly, the inventory of single family homes is up 37.3%. Otsego is primarily new developments and that accounts for the continued strength in prices as most of the homes for sale are new or very recent construction. The ratio of the final sale price to the original listing price fell slightly from 96.3% and to at 95.9% (down by 0.4%). This is definitely a red-hot buyer's market.
Otsego Minnesota is a growing community located between Interstate 94 (Rogers) and US Highway 10 (Elk River) in Wright County in the northwestern corner of the Twin Cities 9 County Metro area. It is an exurban community just beyond the suburbs where the land was primiarily used for farming until recently.
The chart below shows the average annual property taxes There are no homes in the $600K - $700K price range so it is left blank. This data was collected on homes currently listed for sale only and is not intended to reflect the overall average property tax rates for the city. Some of the data may reflect the fact that there are scattered upscale properties with abundant acreage. County property tax records may not reflect the eventual annual property taxes for homes that were constructed recently. There is only one home in each of the price ranges above $700,000.
Based on information from the REGIONAL MULTIPLE LISTING SERVICE
OF MINNESOTA, INC for December 30th, 2007.
To view these listings, click here: Otsego Single Family Homes
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It is a great time to buy a home and there are great deals in all price ranges available.
For more information about my services, guarantees or how I can help you find your next home, sell your home, buy a business or investment property - Just call me today at 763-548-1418!
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Associates of Science Degree in Geographic Information Systems and Cartography
from Anoka Ramsey Community College in Coon Rapids, Minnesota.
Licensed in Minnesota
Equal Housing Opportunity
© Copyright Patti Ann Kasper 2007 All Right Reserved.
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