There are currently 975 real estate properties in Otter Lake, MI, with a median automated valuation model (AVM) price of $178,454.00. What is an AVM? It is a smart computer program that analyzes and predicts the approximate value of a home, property or land in Otter Lake, MI, based on current market trends, comparable real estate sales nearby, historical data and, of course, property features, among other variables. These automated home estimates are often very helpful, providing buyers and sellers with a better idea of a home’s value ahead of the negotiation process. For example, the average home price in Otter Lake, MI, is $206,866.00, with the most expensive house in Otter Lake, MI, topping out at $2,462,846.00 and the cheapest home in Otter Lake, MI, clocking in at $16,770.00. In other words, there’s something for every potential homebuyer or savvy investor in Otter Lake, MI!
With the expiration of certain local, state and federal housing-related restrictions and mandated programs, the rental market in Otter Lake, MI, is on a rollercoaster ride. The average rent price in Otter Lake, MI, is $1,165.00. Indeed, when looking to rent in Otter Lake, MI, you can expect to pay as little as $500.00 or as much as $2,620.00, with the average rent median estimated to be $1,180.00. The good news is that finding an affordable and desirable property to rent in Otter Lake, MI -- whether it’s apartments, townhomes, condominiums or single-family homes -- is made easier with knowledge of the local market and, of course, a little patience.
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