$2,969 Closing Credit*
$250,000
3 Beds
•2 Full Baths
Nicole Burns, Listing Office: Platinum Real Estate
Is Mentor, OH a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since November 2023
Since last year, Mentor has remained a Seller's Market.
Key Takeaway
Mentor is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Mentor, OH
How much do homes in Mentor, OH cost?
Median Sold Price
$263,951
$148/sqft
Based on all homes sold in the last 12 months.
Difference Since November 2023
+$18,951(+7.7%)
Key Takeaway
Homes in Mentor have sold for 7.7% more than they did a year ago.
Summary: The median home sold price in Mentor was $263,951 in November 2024, up 7.7% from last year, and the median price per square foot was $148.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Nov 2023 | Nov 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $99.7K | $89.9K | -9.8% |
| 2 Bedrooms | $150K | $153.9K | +2.6% |
| 3 Bedrooms | $230K | $244.9K | +6.5% |
| 4 Bedrooms | $335K | $355K | +6.0% |
| 5+ Bedrooms | $380K | $422.5K | +11.2% |
Summary: Mentor housing prices by bedroom type for November 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 9.8%, 2 bedroom homes increased by 2.6%, 3 bedroom homes increased by 6.5%, 4 bedroom homes increased by 6%, and 5+ bedroom homes increased by 11.2%.
Median Sold Price Compared To Nearby Cities
| Mentor-on-the-Lake | $184.9K | $216.5K | +17.1% |
| Painesville | $192.6K | $210K | +9.0% |
| Mentor | $245K | $263.9K | +7.7% |
Housing Supply in Mentor, OH
How many homes are available in Mentor, OH?
Number of Homes For Sale
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 189 | 152 | -19.6% |
Summary: The Mentor real estate market had 152 homes for sale in November 2024, a 19.6% decrease compared to October 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 0 | 1 | +100.0% |
| 2 Bedrooms | 30 | 27 | -10.0% |
| 3 Bedrooms | 106 | 71 | -33.0% |
| 4 Bedrooms | 38 | 42 | +10.5% |
| 5+ Bedrooms | 15 | 11 | -26.7% |
Summary: The Mentor housing inventory by bedroom type for November 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 100%, 2 bedroom homes decreased by 10%, 3 bedroom homes decreased by 33%, 4 bedroom homes increased by 10.5%, and 5+ bedroom homes decreased by 26.7%.
Number of Homes Sold
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 76 | 30 | -60.5% |
Asking Price vs. Sold Price
15 Homes Were Sold
Under Asking
4 Homes Were Sold
At Asking
11 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Mentor, you may be able to get a good deal. 50% of homes here sold below asking price last month.
Summary: A total of 30 homes were sold or pending in Mentor in November 2024, down by 60.5% month-over-month. Of the 30 sold homes, 50% were sold under asking, 13% were sold at asking, and 37% were sold over asking.
Days on Market for Mentor, OH
How long does it take to sell a home in Mentor, OH?
Average Sale Time
| Nov 2023 | Nov 2024 | CHANGE |
|---|---|---|
| 32 Days | 36 Days | +11.9% |
Summary: Homes in Mentor had an average of 36 days on market in Nov 2024, up by 11.9% compared to last year.
Breakdown of Home Sale Times
17 Homes Were Sold
Under 30 Days
9 Homes Were Sold
In 30 - 90 Days
4 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Mentor are selling fast, if you're buying plan to act quickly.
Summary: During November 2024, 30 homes were sold in Mentor; 57% of homes were sold within 30 days, 30% of homes were sold within 30 to 90 days, and 13% of homes were sold over 90 days.
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