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 March 2023
Since last year, Mentor-on-the-Lake has remained a Seller's Market.
Key Takeaway
Mentor-on-the-Lake is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Mentor-on-the-Lake, OH
How much do homes in Mentor-on-the-Lake, OH cost?
Median Sold Price
$190,000
$136/sqft
Based on all homes sold in the last 12 months.
Difference Since March 2023
Key Takeaway
Homes in Mentor-on-the-Lake have sold for 8% more than they did a year ago.
Summary: The median home sold price in Mentor-on-the-Lake was $190,000 in March 2024, up 8% from last year, and the median price per square foot was $136.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | - | N/A |
| 2 Bedrooms | $167.9K | $175K | +4.2% |
| 3 Bedrooms | $174.9K | $192.9K | +10.3% |
| 4 Bedrooms | $222.5K | $253.5K | +13.9% |
| 5+ Bedrooms | - | - | N/A |
Summary: Mentor-on-the-Lake housing prices by bedroom type for March 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes increased by 4.2%, 3 bedroom homes increased by 10.3%, 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 | $176K | $190K | +8.0% |
| Mentor | $232.5K | $245K | +5.4% |
Housing Supply in Mentor-on-the-Lake, OH
How many homes are available in Mentor-on-the-Lake, OH?
Number of Homes For Sale
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 14 | 15 | +7.1% |
Summary: The Mentor-on-the-Lake real estate market had 15 homes for sale in March 2024, a 7.1% increase 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 | 5 | 5 | 0.0% |
| 3 Bedrooms | 9 | 10 | +11.1% |
| 4 Bedrooms | 0 | 0 | 0.0% |
| 5+ Bedrooms | 0 | 0 | 0.0% |
Summary: The Mentor-on-the-Lake 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 increased by 11.1%, 4 bedroom homes remained the same, and 5+ bedroom homes remained the same.
Number of Homes Sold
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 3 | 5 | +66.7% |
Asking Price vs. Sold Price
2 Homes Were 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-on-the-Lake, you may be able to get a good deal. 40% of homes here sold below asking price last month.
Summary: A total of 5 homes were sold or pending in Mentor-on-the-Lake in March 2024, up by 66.7% month-over-month. Of the 5 sold homes, 40% were sold under asking, 20% were sold at asking, and 40% 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
| Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|
| 31 Days | 41 Days | +34.2% |
Summary: Homes in Mentor-on-the-Lake had an average of 41 days on market in Mar 2024, up by 34.2% compared to last year.
Breakdown of Home Sale Times
1 Home Was Sold
Under 30 Days
4 Homes Were Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Key Takeaway
Avg time on Rocket Homes in Mentor-on-the-Lake has remained consistent over time.
Summary: During March 2024, 5 homes were sold in Mentor-on-the-Lake; 20% of homes were sold within 30 days, 80% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.
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