Is Mentor Township, MI a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since May 2023
Since last year, Mentor Township has remained a Seller's Market.
Key Takeaway
Mentor Township is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Mentor Township, MI
How much do homes in Mentor Township, MI cost?
Median Sold Price
$112,000
$88/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Key Takeaway
Homes in Mentor Township have sold for 28.1% more than they did a year ago.
Summary: The median home sold price in Mentor Township was $112,000 in May 2024, up 28.1% from last year, and the median price per square foot was $88.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $69.5K | $86.9K | +25.1% |
| 2 Bedrooms | $92.5K | $110K | +18.9% |
| 3 Bedrooms | $100.2K | $140.9K | +40.6% |
| 4 Bedrooms | $89.7K | $152.4K | +69.9% |
| 5+ Bedrooms | - | - | N/A |
Summary: Mentor Township housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes increased by 25.1%, 2 bedroom homes increased by 18.9%, 3 bedroom homes increased by 40.6%, 4 bedroom homes increased by 69.9%, and 5+ bedroom homes did not change.
Median Sold Price Compared To Nearby Cities
| South Branch | $112.4K | $164K | +45.8% |
| Mentor Township | $87.4K | $112K | +28.1% |
| Fairview | $136.9K | $155K | +13.2% |
| Comins Township | $136.9K | $155K | +13.2% |
| Mio | $110K | $97.5K | -11.4% |
Housing Supply in Mentor Township, MI
How many homes are available in Mentor Township, MI?
Number of Homes For Sale
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 11 | 13 | +18.2% |
Summary: The Mentor Township real estate market had 13 homes for sale in May 2024, a 18.2% increase compared to April 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 1 | 3 | +200.0% |
| 2 Bedrooms | 3 | 4 | +33.3% |
| 3 Bedrooms | 7 | 6 | -14.3% |
| 4 Bedrooms | 0 | 0 | 0.0% |
| 5+ Bedrooms | 0 | 0 | 0.0% |
Summary: The Mentor Township housing inventory by bedroom type for May 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 200%, 2 bedroom homes increased by 33.3%, 3 bedroom homes decreased by 14.3%, 4 bedroom homes remained the same, and 5+ bedroom homes remained the same.
Number of Homes Sold
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 3 | 3 | 0.0% |
Asking Price vs. Sold Price
2 Homes Were Sold
Under Asking
1 Home Was Sold
At Asking
0 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Mentor Township, you may be able to get a good deal. 66.7% of homes here sold below asking price last month.
Summary: A total of 3 homes were sold or pending in Mentor Township in May 2024, the same as the previous month. Of the 3 sold homes, 67% were sold under asking, 33% were sold at asking, and 0% were sold over asking.
Days on Market for Mentor Township, MI
How long does it take to sell a home in Mentor Township, MI?
Breakdown of Home Sale Times
0 Homes Were Sold
Under 30 Days
1 Home Was Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Key Takeaway
Avg time on Rocket Homes in Mentor Township has remained consistent over time.
Summary: During May 2024, 3 homes were sold in Mentor Township; 0% of homes were sold within 30 days, 33% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.
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