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Featured local agent — Otter Lake, NY
Sarah Mitchell
Compass Real Estate · Otter Lake, NY
“Your trusted relocation specialist since 2009. 350+ homes sold. Zero-pressure, data-first approach.”
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Otter Lake, NY Housing Market
The last median sale price Redfin published was $190,000 (through May 2026). With 0.7 months of supply and homes going under contract in about 15 days, Otter Lake is a seller's market. At today's 7.03% 30-year fixed rate, 20% down on a $190,000 home is about $1,014/mo in principal and interest.
Key numbers for Otter Lake, NY
Median sale price
$190,000
Last published period
Redfin, through October 2025
Days on market
15
Fast-moving
Redfin, through October 2025
Active listings
2
0.7 months of supply
Redfin, through October 2025
30-yr fixed rate
7.03%
Freddie Mac weekly average
Freddie Mac via FRED, September 2026
Median household income
$83,750
Home costs 2.3x income
U.S. Census ACS, 2023
Sale-to-list ratio
98.3%
Selling below asking
Redfin, through October 2025
Zillow figures refresh monthly. Redfin figures are through May 2026 — Redfin stopped publishing its public market trackers in June 2026, so those numbers are final, not current. Mortgage rates come from Freddie Mac via FRED and update weekly.
Is Otter Lake a buyer's or seller's market?
Otter Lake, NY is a seller's market, based on 0.7 months of supply and homes selling in about 15 days. Under 2 months of supply is a severe shortage: expect competition on almost anything priced correctly, and little room to negotiate below asking.
Inputs are Redfin's final published period (May 2026). How we classify markets · Where the data comes from
What does the Otter Lake housing market data show?
Every row below is Redfin's final published month for Otter Lake, NY. Redfin, through October 2025
| Metric | Value |
|---|---|
| Median sale price | $190,000 |
| Median price per sq ft | $342/sq ft |
| Median days on market | 15 days |
| Active inventory | 2 listings |
| Months of supply | 0.7 months |
| Sale-to-list price ratio | 98.3% |
| Homes sold (that month) | 3 |
| Listings with a price cut | 50.0% |
| Market condition | Seller's market |
How to read these numbers
- Median sale price
- Half the homes that closed sold for more than this, half for less. It moves with what kind of home sold that month, so a quiet month with two big sales can swing it. Redfin's figure for Otter Lake is frozen at May 2026.
- Typical home value (ZHVI)
- Zillow's estimate of what a mid-market home in Otter Lake is worth right now, whether or not it sold. It is smoother than the median sale price and it still refreshes monthly, which is why this page leads with it.
- Months of supply
- How long it would take to sell every active listing at the current pace. Under 3 favors sellers, over 6 favors buyers, and 3 to 6 is the balanced band.
- Days on market
- Median time from listing to accepted offer. Short means you should have financing ready before you tour; long means there is room to negotiate on price and repairs.
- Sale-to-list ratio
- Sale price divided by the last asking price. Above 100% means bidding above asking is normal here; below 100% means the typical buyer got a discount.
- Price per square foot
- The size-adjusted price. Use it to compare a 1,400 sq ft house to a 2,600 sq ft house, not to value your own home — lot, condition and age move it a lot.
- Listings with a price cut
- Share of active listings that dropped their asking price in the month. A high share is the earliest visible sign that sellers are ahead of what buyers will pay.
- Typical asking rent (ZORI)
- Zillow's repeat-rent index for asking rents on new leases. Paired with the home value it gives the price-to-rent ratio in the rent-vs-buy section below.
How have Otter Lake home prices moved?
Across the 16 months we hold for Otter Lake, NY, the median sale price rose 68.9%, from $112,500 in June 2021 to $190,000. 50.0% of Otter Lake listings cut their asking price in the final Redfin month — a high share, and the clearest sign that list prices were running ahead of what buyers would pay. For prices to fall meaningfully from here, supply would have to keep building past 0.7 months while the sale-to-list ratio slips below its current 98.3%. Watch those two together — they move before the median does.
Redfin, through October 2025 — the chart ends at Redfin's final published month.
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What does it cost to buy a home in Otter Lake?
Priced off the median sale price of $190,000 at the current 7.03% 30-year fixed rate. These are principal and interest only — property taxes, homeowner's insurance, HOA dues and mortgage insurance are on top, and they vary enough by property that we will not guess them for you.
| Down payment | Cash at close | Loan amount | Monthly P&I |
|---|---|---|---|
| 20% | $38,000 | $152,000 | $1,014/mo |
| 5% | $9,500 | $180,500 | $1,205/mo |
Redfin, through October 2025 for the price · Freddie Mac via FRED, September 2026 for the rate
What income do you need?
Lenders generally want housing costs under 28% of gross income. On the 20%-down payment of $1,014, that implies roughly $43,471 a year before you add taxes and insurance. The median household in Otter Lake earns $83,750, about $40,279 more than that threshold — the typical local household clears the payment on a typical local home with 20% down. That puts the price-to-income ratio at 2.3x — close to the historical 3x norm, which is unusual in 2026.
Run it with your own numbers: affordability calculator · mortgage calculator
Buying in Otter Lake in the next 12 months?
Tell us your timeline. We send the Otter Lake market brief: the price ranges that actually clear, how long homes sit, and what to fix on your credit before you apply.
Is it cheaper to rent or buy in Otter Lake?
Zillow does not publish a rent index (ZORI) for Otter Lake, NY, so we cannot compute a price-to-rent ratio here without borrowing a nearby market's rents and calling them local — which we will not do. The rent vs. buy calculator works with a rent figure you supply.
Is inventory rising or falling in Otter Lake?
Active listings in Otter Lake, NY went from 3 in June 2021 to 2 in October 2025, a -33.3% change. Falling inventory tightens competition. When supply drops while demand holds, sale-to-list ratios rise before the median sale price does.
| Month | Active listings | New listings |
|---|---|---|
| July 2021 | 2 | not published |
| August 2021 | 2 | 1 |
| October 2021 | 1 | not published |
| January 2022 | 1 | not published |
| July 2023 | 4 | 1 |
| September 2023 | 2 | not published |
| October 2023 | 2 | not published |
| April 2024 | 1 | 1 |
| May 2024 | 2 | 1 |
| September 2024 | 1 | not published |
| July 2025 | 5 | 5 |
| October 2025 | 2 | not published |
Redfin, through October 2025
How does Otter Lake compare to New York and the U.S.?
Otter Lake homes sell for $190,000 — 69% below the New York median of $620,500. Against the national median of $410,700, Otter Lake runs 54% lower.
| Market | Median sale price | YoY | Days on market |
|---|---|---|---|
| Otter Lake, NY | $190,000 | not published | 15 days |
| New York statewide | $620,500 | +5.1% | 42 days |
| United States | $410,700 | not published | not published |
City and state rows: Redfin, through October 2025 · U.S. row: Freddie Mac via FRED, April 2026 (MSPUS, quarterly)
What to do next in Otter Lake
What buyers should watch
- Months of supply, currently 0.7. It turns before price does — when it climbs past 6, sellers start taking offers they would have rejected a quarter earlier.
- The share of listings cutting price, currently 50.0%. A listing that has already cut once is the one most likely to accept below asking.
- The gap between 5% and 20% down here is $190 a month in principal and interest alone, before mortgage insurance. That gap, not the price, is usually what decides your timeline.
- Rate moves. At 7.03%, every full point of rate change moves the payment on a $190,000 home more than a 5% price change does.
- Your credit tier before you shop, not after — it sets the rate you are quoted. Run your numbers first.
What sellers should know
- The median Otter Lake listing goes under contract in 15 days. If yours passes that mark, the market is telling you the price is wrong — not that you need more showings.
- Homes here close at 98.3% of asking. Price to that ratio from day one rather than chasing the market down in cuts.
- Comparable ZIP-level pricing inside Otter Lake varies more than the citywide median suggests — check the ZIP pages below before you set a number.
Homes for sale in Otter Lake
There are currently 2 homes listed for sale in Otter Lake, New York.
Active listings
2
Homes on market
Avg. days on market
15
Days until sale
How much do homes cost in Otter Lake by property type?
How the Otter Lake, NY market breaks down across single-family homes, condos and townhouses. Redfin, through October 2025
| Property type | Median price | Price / sq ft | Homes sold | Days on market |
|---|---|---|---|---|
| Single-family | $190,000 | $342/sq ft | 3 | 15 days |
Who lives in Otter Lake?
American Community Survey estimates for Otter Lake. U.S. Census ACS, 2023
Population
109
Households
66
Median income
$83,750/yr
Median age
62.1 years
Owner-occupied
100.0%
Median home value
$262,500
Mean commute
32.4 min
100.0% of occupied homes in Otter Lake are owner-occupied, and the rest are rented — which is the share that decides how much of the local housing stock ever reaches the for-sale market.
Which cities are near Otter Lake, NY?
Ordered by distance from Otter Lake, not by size. Compare Otter Lake side by side with any of them.
Otter Lake housing market FAQ
Is Otter Lake a buyer's or seller's market?
Otter Lake, NY is currently a seller's market. That read comes from 0.7 months of supply, homes going under contract in about 15 days, and sellers getting 98.3% of their asking price in the last month Redfin published (May 2026).
How much do homes cost in Otter Lake?
The median sale price in the last month Redfin published was $190,000, about $342 per square foot.
Is Otter Lake cheaper than the rest of New York?
Otter Lake's median sale price of $190,000 is 69% lower than the New York statewide median of $620,500, and 54% below the U.S. median of $410,700. Both figures are for the same period.
How long do homes take to sell in Otter Lake?
Homes in Otter Lake, NY spent a median of 15 days on market before going under contract, versus 42 days statewide. Under three weeks means well-priced listings move before most buyers can schedule a second showing. (Redfin, through May 2026.)
What income do you need to buy a home in Otter Lake?
At the current 30-year fixed rate of 7.03%, 20% down on a $190,000 home is about $1,014 a month in principal and interest. Lenders typically want that under 28% of gross income, which works out to roughly $43,471 a year before taxes, insurance, HOA dues or mortgage insurance. The local median household income is $83,750.
Are home prices rising in Otter Lake?
We do not hold a complete 12-month value series for Otter Lake, NY yet, so we are not going to call a direction. The price chart above shows every period we do have.
What are the cheapest ZIP codes in Otter Lake?
Otter Lake ZIP-level sale prices are not all published for the same period, so ranking them would compare different months. The ZIP pages listed on this page show what we hold for each one individually.
Is now a good time to buy in Otter Lake?
That depends on your timeline, not on a headline. What the data says today: Otter Lake, NY is a seller's market with 0.7 months of supply, the 30-year fixed rate is 7.03%. Properties Incorporated publishes the data; it does not give financial advice.
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One email: what homes are actually clearing at around $190,000, how long they sit, which ZIPs run cheaper, and what to fix on your credit before you apply.