Mentone Market Update

We’re in the main sales season now, and it’s time to look at how different neighborhoods are performing.

Mentone Sales

Sold

There have been 5 sales so far this year in Mentone, 4 of them in April. The March sale closed for the most – $250,000 ($131/sqft) it was originally listed for $299,500 and was $141/sqft when it went under contract.  The closings in April sold for less than that – $127 to $101 per square foot ($172,500 to $200,000).

From a glance at the interior photos these homes were in decent condition, some with more upgrades than others but within what is expected of the area.

Under Contract

There are 4 homes under contract, but three of them went under contract 6 or more months ago.  It’s unusual to see such a long time to closing – it may mean that they are in a rent-to-own situation or something else that allows such a time frame. (They were asking $121, $124, and $125 per square foot.)

The one house that is newly under contract was listed 3/20/09 and only on the market for 5 days before getting an offer that was workable.  It was listed for $249,900 ($116/sqft) and we’ll have to wait to see what is closes for (hopefully only for a few more days!)

Homes For Sale

There are 11 homes for sale in Mentone at the moment.  They range from 1,300 to 2,000 sqft and are asking between $190,000 to $287,000.  ($113/sqft to $180/sqft)