$2,363 Closing Credit*
$199,000
3 Beds
•1 Full Bath, 1 Partial
Joseph M Ciani, Listing Office: HomeSmart Real Estate Momentum LLC
Is Mentor, OH a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since October 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
$261,125
$145/sqft
Based on all homes sold in the last 12 months.
Difference Since October 2023
+$20,250(+8.4%)
Key Takeaway
Homes in Mentor have sold for 8.4% more than they did a year ago.
Summary: The median home sold price in Mentor was $261,125 in October 2024, up 8.4% from last year, and the median price per square foot was $145.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $99.7K | $89.9K | -9.8% |
| 2 Bedrooms | $150K | $152.5K | +1.7% |
| 3 Bedrooms | $230K | $243.6K | +5.9% |
| 4 Bedrooms | $330K | $351K | +6.4% |
| 5+ Bedrooms | $365K | $422.5K | +15.8% |
Summary: Mentor housing prices by bedroom type for October 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 9.8%, 2 bedroom homes increased by 1.7%, 3 bedroom homes increased by 5.9%, 4 bedroom homes increased by 6.4%, and 5+ bedroom homes increased by 15.8%.
Median Sold Price Compared To Nearby Cities
| Mentor-on-the-Lake | $184.9K | $217K | +17.4% |
| Painesville | $189.8K | $209.7K | +10.5% |
| Mentor | $240.8K | $261.1K | +8.4% |
Housing Supply in Mentor, OH
How many homes are available in Mentor, OH?
Number of Homes For Sale
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 204 | 189 | -7.4% |
Summary: The Mentor real estate market had 189 homes for sale in October 2024, a 7.4% decrease compared to September 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 0 | 0 | 0.0% |
| 2 Bedrooms | 29 | 30 | +3.4% |
| 3 Bedrooms | 113 | 103 | -8.8% |
| 4 Bedrooms | 46 | 41 | -10.9% |
| 5+ Bedrooms | 16 | 15 | -6.3% |
Summary: The Mentor housing inventory by bedroom type for October 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes increased by 3.4%, 3 bedroom homes decreased by 8.8%, 4 bedroom homes decreased by 10.9%, and 5+ bedroom homes decreased by 6.3%.
Number of Homes Sold
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 70 | 73 | +4.3% |
Asking Price vs. Sold Price
33 Homes Were Sold
Under Asking
17 Homes Were Sold
At Asking
23 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Mentor, you may be able to get a good deal. 45.2% of homes here sold below asking price last month.
Summary: A total of 73 homes were sold or pending in Mentor in October 2024, up by 4.3% month-over-month. Of the 73 sold homes, 45% were sold under asking, 23% were sold at asking, and 32% 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
| Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|
| 25 Days | 38 Days | +52.0% |
Summary: Homes in Mentor had an average of 38 days on market in Oct 2024, up by 52% compared to last year.
Breakdown of Home Sale Times
38 Homes Were Sold
Under 30 Days
28 Homes Were Sold
In 30 - 90 Days
7 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 October 2024, 73 homes were sold in Mentor; 52% of homes were sold within 30 days, 38% of homes were sold within 30 to 90 days, and 10% of homes were sold over 90 days.
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