The housing market in Otis, ME is strong, with the median value of homes in the area being $317,800. This is slightly lower than the US house median value of $338,100 but has a much higher appreciation rate of 16.46%, compared to 8.27% nationally. This suggests that Otis real estate values are growing at a faster pace than in other parts of the country and could make it a great place for homebuyers looking to invest in the housing market.
The median home cost in Otis is $317,800. Home appreciation the last 10 years has been 82.1%. Home Appreciation in Otis is up 20.6%.
Average Age of Homes
- The median age of Otis real estate is 34 years old
The Rental Market in Otis
- Renters make up 4.1% of the Otis population
- 0.8% of houses and apartments in Otis, are available to rent
DID YOU KNOW
Buying a home is the biggest single purchase most people make during their lives. The second largest is most often an automobile.