Is Mentor-on-the-Lake, OH a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since April 2023
Since last year, Mentor-on-the-Lake has remained a Seller's Market.
Housing Prices in Mentor-on-the-Lake, OH
How much do homes in Mentor-on-the-Lake, OH cost?
Median Sold Price
$194,250
$139/sqft
Based on all homes sold in the last 12 months.
Difference Since April 2023
Summary: The median home sold price in Mentor-on-the-Lake was $194,250 in April 2024, up 9.7% from last year, and the median price per square foot was $139.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | Apr 2023 | Apr 2024 | CHANGE |
---|---|---|---|
1 Bedroom | - | - | N/A |
2 Bedrooms | $194K | $180K | -7.2% |
3 Bedrooms | $172K | $194.2K | +12.9% |
4 Bedrooms | $222.5K | $253.5K | +13.9% |
5+ Bedrooms | - | - | N/A |
Summary: Mentor-on-the-Lake housing prices by bedroom type for April 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes decreased by 7.2%, 3 bedroom homes increased by 12.9%, 4 bedroom homes increased by 13.9%, and 5+ bedroom homes did not change.
Median Sold Price Compared To Nearby Cities
Mentor-on-the-Lake | $177K | $194.2K | +9.7% |
Mentor | $234.8K | $249.9K | +6.4% |
Housing Supply in Mentor-on-the-Lake, OH
How many homes are available in Mentor-on-the-Lake, OH?
Number of Homes For Sale
Mar 2024 | Apr 2024 | CHANGE |
---|---|---|
17 | 19 | +11.8% |
Summary: The Mentor-on-the-Lake real estate market had 19 homes for sale in April 2024, a 11.8% increase compared to March 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Mar 2024 | Apr 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 0 | 0 | 0.0% |
2 Bedrooms | 6 | 6 | 0.0% |
3 Bedrooms | 11 | 12 | +9.1% |
4 Bedrooms | 0 | 1 | +100.0% |
5+ Bedrooms | 0 | 0 | 0.0% |
Summary: The Mentor-on-the-Lake housing inventory by bedroom type for April 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes remained the same, 3 bedroom homes increased by 9.1%, 4 bedroom homes increased by 100%, and 5+ bedroom homes remained the same.
Number of Homes Sold
Mar 2024 | Apr 2024 | CHANGE |
---|---|---|
5 | 5 | 0.0% |
Asking Price vs. Sold Price
0 Homes Were Sold
Under Asking
2 Homes Were Sold
At Asking
3 Homes Were Sold
Over Asking
Summary: A total of 5 homes were sold or pending in Mentor-on-the-Lake in April 2024, the same as the previous month. Of the 5 sold homes, 0% were sold under asking, 40% were sold at asking, and 60% were sold over asking.
Days on Market for Mentor-on-the-Lake, OH
How long does it take to sell a home in Mentor-on-the-Lake, OH?
Average Sale Time
Apr 2023 | Apr 2024 | CHANGE |
---|---|---|
30 Days | 15 Days | -51.1% |
Summary: Homes in Mentor-on-the-Lake had an average of 15 days on market in Apr 2024, down by 51.1% compared to last year.
Breakdown of Home Sale Times
4 Homes Were Sold
Under 30 Days
1 Home Was Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Summary: During April 2024, 5 homes were sold in Mentor-on-the-Lake; 80% of homes were sold within 30 days, 20% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.