Is Mentor Township, MI a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since Last Month
Last month, Mentor Township was a Buyer'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
$80,450
$80/sqft
Based on all homes sold in March 2024.
Difference Since Last Month
Key Takeaway
Homes in Mentor Township have sold for 63.4% less than they did a month ago.
Summary: The median home sold price in Mentor Township was $80,450 in March 2024, down 63.4% from last month, and the median price per square foot was $80.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | - | N/A |
| 2 Bedrooms | - | $80.4K | N/A |
| 3 Bedrooms | $220K | $35.9K | -83.6% |
| 4 Bedrooms | - | $208.5K | N/A |
| 5+ Bedrooms | - | - | N/A |
Summary: Mentor Township housing prices by bedroom type for March 2024 compared to the previous month: The home price of 1 bedroom homes did not change, 2 bedroom homes did not change, 3 bedroom homes decreased by 83.6%, 4 bedroom homes did not change, and 5+ bedroom homes did not change.
Median Sold Price Compared To Nearby Cities
| South Branch | $83K | $185K | +122.9% |
| Mentor Township | $220K | $80.4K | -63.4% |
Housing Supply in Mentor Township, MI
How many homes are available in Mentor Township, MI?
Number of Homes For Sale
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 13 | 12 | -7.7% |
Summary: The Mentor Township real estate market had 12 homes for sale in March 2024, a 7.7% decrease compared to February 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 0 | 0 | 0.0% |
| 2 Bedrooms | 4 | 4 | 0.0% |
| 3 Bedrooms | 8 | 7 | -12.5% |
| 4 Bedrooms | 1 | 1 | 0.0% |
| 5+ Bedrooms | 0 | 0 | 0.0% |
Summary: The Mentor Township housing inventory by bedroom type for March 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes remained the same, 3 bedroom homes decreased by 12.5%, 4 bedroom homes remained the same, and 5+ bedroom homes remained the same.
Number of Homes Sold
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 1 | 4 | +300.0% |
Asking Price vs. Sold Price
1 Home Was Sold
Under Asking
1 Home Was Sold
At Asking
2 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Mentor Township, you could pay more than the asking price. 50% of homes here sold above asking price last month.
Summary: A total of 4 homes were sold or pending in Mentor Township in March 2024, up by 300.0% month-over-month. Of the 4 sold homes, 25% were sold under asking, 25% were sold at asking, and 50% 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
1 Home Was Sold
Under 30 Days
0 Homes Were Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Mentor Township are selling fast, if you're buying plan to act quickly.
Summary: During March 2024, 4 homes were sold in Mentor Township; 25% of homes were sold within 30 days, 0% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.
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