Is Otwell, IN 47564 a buyer’s or seller’s market?
Otwell is a seller’s market. With about 3.2 months of supply and 33% of recent sales closing above the original list price, competing offers are common on well-priced homes. Buyers here often have a pre-approval in hand and a plan for the appraisal gap before touring.
The Otwell housing market right now
In the three months ending August 31, 2026, 33% of homes in Otwell, IN 47564 sold above their list price, the typical home went under contract in 28 days and there were 3.2 months of supply. Under four months of supply means sellers have the edge: expect competition for well-priced homes. With only 3 sales, these figures can swing a lot from month to month.
Compared with the same period a year earlier, the share selling over asking rose from 0%, homes sold more slowly (18 days then) and the median sale price rose 100% to $239,896. Overall, Otwell is more competitive than a year ago, so tougher for buyers.
Within Pike County, homes here sell more slowly than in 75% of the county’s ZIP codes, and sell more often over asking than in 50%.
Nearby, buyers who want less competition could look at Stendal 47585 (0% sold over asking) or Petersburg 47567 (20% sold over asking), while Spurgeon 47584 (50% sold over asking) is even more competitive.
Run the numbers for 47564
Nearby markets
Petersburg 47567Balanced $125 /sq ftSpurgeon 47584Seller’s market $49 /sq ftStendal 47585 $135 /sq ftVelpen 47590 — /sq ft Browse all markets →Towns like Otwell nearby
Find towns like Otwell in other states →Where Otwell is
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Questions about Otwell real estate
Is Otwell a buyer’s or seller’s market?
A seller’s market: there were 3.2 months of supply in Otwell, IN 47564 in the three months ending August 31, 2026. Under four months usually favors sellers, and more than six favors buyers.
How fast do homes sell in Otwell?
The typical home went under contract in 28 days in the latest three months.
Do homes in Otwell sell over asking?
33% of homes sold above their original list price, and the typical sale closed at 96.4% of the list price.
What are property taxes in Otwell?
About 0.78% of a home’s value a year in Pike County, or roughly $3,120 on a $400,000 home.
What is the median home price in Otwell?
The median sale price was $239,896 in the three months ending August 31, 2026, about $137 per square foot.
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Market data describes housing activity only. Figures are rolling 3-month values from Redfin and may be revised. Methodology