Is Gates, NY 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, Gates has remained a Seller's Market.
Key Takeaway
Gates is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Gates, NY
How much do homes in Gates, NY cost?
Median Sold Price
$205,000
$144/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Key Takeaway
Homes in Gates have sold for 13.9% more than they did a year ago.
Summary: The median home sold price in Gates was $205,000 in May 2024, up 13.9% from last year, and the median price per square foot was $144.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $80K | $109K | +36.3% |
| 2 Bedrooms | $157.7K | $180K | +14.1% |
| 3 Bedrooms | $179.2K | $210K | +17.2% |
| 4 Bedrooms | $192.7K | $217.5K | +12.8% |
| 5+ Bedrooms | $205K | $267K | +30.2% |
Summary: Gates housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes increased by 36.3%, 2 bedroom homes increased by 14.1%, 3 bedroom homes increased by 17.2%, 4 bedroom homes increased by 12.8%, and 5+ bedroom homes increased by 30.2%.
Housing Supply in Gates, NY
How many homes are available in Gates, NY?
Number of Homes For Sale
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 66 | 60 | -9.1% |
Summary: The Gates real estate market had 60 homes for sale in May 2024, a 9.1% decrease compared to April 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 0 | 0 | 0.0% |
| 2 Bedrooms | 11 | 8 | -27.3% |
| 3 Bedrooms | 40 | 39 | -2.5% |
| 4 Bedrooms | 12 | 10 | -16.7% |
| 5+ Bedrooms | 3 | 3 | 0.0% |
Summary: The Gates housing inventory by bedroom type for May 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes decreased by 27.3%, 3 bedroom homes decreased by 2.5%, 4 bedroom homes decreased by 16.7%, and 5+ bedroom homes remained the same.
Number of Homes Sold
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 22 | 16 | -27.3% |
Asking Price vs. Sold Price
0 Homes Were Sold
Under Asking
1 Home Was Sold
At Asking
15 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Gates, you could pay more than the asking price. 93.8% of homes here sold above asking price last month.
Summary: A total of 16 homes were sold or pending in Gates in May 2024, down by 27.3% month-over-month. Of the 16 sold homes, 0% were sold under asking, 6% were sold at asking, and 94% were sold over asking.
Days on Market for Gates, NY
How long does it take to sell a home in Gates, NY?
Average Sale Time
| May 2023 | May 2024 | CHANGE |
|---|---|---|
| 17 Days | 8 Days | -53.4% |
Summary: Homes in Gates had an average of 8 days on market in May 2024, down by 53.4% compared to last year.
Breakdown of Home Sale Times
16 Homes Were Sold
Under 30 Days
0 Homes Were Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Gates are selling fast, if you're buying plan to act quickly.
Summary: During May 2024, 16 homes were sold in Gates; 100% 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.
