$5,807 Closing Credit*
$489,000
2,546 SqFt
3 Beds
•2 Full Baths, 1 Partial
Jake Lohser, Listing Office: Keller Williams Greater Metropolitan
Is Gates Mills, OH a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since November 2023
At the same time last year, Gates Mills was a Seller's Market.
Key Takeaway
Gates Mills is a Buyers Housing Market, which means prices tend to be lower and homes stay on the market longer.
Housing Prices in Gates Mills, OH
How much do homes in Gates Mills, OH cost?
Median Sold Price
$669,000
$187/sqft
Based on all homes sold in the last 12 months.
Difference Since November 2023
-$119,000(-15.1%)
Key Takeaway
Homes in Gates Mills have sold for 15.1% less than they did a year ago.
Summary: The median home sold price in Gates Mills was $669,000 in November 2024, down 15.1% from last year, and the median price per square foot was $187.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Nov 2023 | Nov 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | - | N/A |
| 2 Bedrooms | $745K | $459.1K | -38.4% |
| 3 Bedrooms | $492.2K | $427K | -13.2% |
| 4 Bedrooms | $743.6K | $740K | -0.5% |
| 5+ Bedrooms | $960K | $826.4K | -13.9% |
Summary: Gates Mills housing prices by bedroom type for November 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes decreased by 38.4%, 3 bedroom homes decreased by 13.2%, 4 bedroom homes decreased by 0.5%, and 5+ bedroom homes decreased by 13.9%.
Median Sold Price Compared To Nearby Cities
| Mayfield Heights | $203.5K | $240K | +17.9% |
| Mayfield | $340K | $367K | +7.9% |
| Willoughby Hills | $298.9K | $322K | +7.7% |
| Chester Township | $325K | $320K | -1.5% |
| Gates Mills | $788K | $669K | -15.1% |
Housing Supply in Gates Mills, OH
How many homes are available in Gates Mills, OH?
Number of Homes For Sale
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 19 | 18 | -5.3% |
Summary: The Gates Mills real estate market had 18 homes for sale in November 2024, a 5.3% decrease compared to October 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 0 | 0 | 0.0% |
| 2 Bedrooms | 0 | 0 | 0.0% |
| 3 Bedrooms | 1 | 1 | 0.0% |
| 4 Bedrooms | 12 | 13 | +8.3% |
| 5+ Bedrooms | 6 | 4 | -33.3% |
Summary: The Gates Mills housing inventory by bedroom type for November 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes remained the same, 3 bedroom homes remained the same, 4 bedroom homes increased by 8.3%, and 5+ bedroom homes decreased by 33.3%.
Number of Homes Sold
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 3 | 1 | -66.7% |
Asking Price vs. Sold Price
1 Home Was Sold
Under Asking
0 Homes Were Sold
At Asking
0 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Gates Mills, you may be able to get a good deal. 100% of homes here sold below asking price last month.
Summary: A total of 1 homes were sold or pending in Gates Mills in November 2024, down by 66.7% month-over-month. Of the 1 sold homes, 100% were sold under asking, 0% were sold at asking, and 0% were sold over asking.
Days on Market for Gates Mills, OH
How long does it take to sell a home in Gates Mills, OH?
Average Sale Time
| Nov 2023 | Nov 2024 | CHANGE |
|---|---|---|
| 13 Days | 84 Days | +546.2% |
Summary: Homes in Gates Mills had an average of 84 days on market in Nov 2024, up by 546.2% compared to last year.
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 Gates Mills has remained consistent over time.
Summary: During November 2024, 1 homes were sold in Gates Mills; 0% of homes were sold within 30 days, 100% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.
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