Is Gates, NY 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, 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
$143/sqft
Based on all homes sold in the last 12 months.
Difference Since March 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 March 2024, up 13.9% from last year, and the median price per square foot was $143.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $80K | $109K | +36.3% |
| 2 Bedrooms | $157K | $181K | +15.3% |
| 3 Bedrooms | $178.1K | $205K | +15.1% |
| 4 Bedrooms | $191.1K | $220K | +15.1% |
| 5+ Bedrooms | $227.5K | $250K | +9.9% |
Summary: Gates housing prices by bedroom type for March 2024 compared to the previous year: The home price of 1 bedroom homes increased by 36.3%, 2 bedroom homes increased by 15.3%, 3 bedroom homes increased by 15.1%, 4 bedroom homes increased by 15.1%, and 5+ bedroom homes increased by 9.9%.
Housing Supply in Gates, NY
How many homes are available in Gates, NY?
Number of Homes For Sale
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 49 | 51 | +4.1% |
Summary: The Gates real estate market had 51 homes for sale in March 2024, a 4.1% 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 | 6 | 8 | +33.3% |
| 3 Bedrooms | 34 | 33 | -2.9% |
| 4 Bedrooms | 6 | 7 | +16.7% |
| 5+ Bedrooms | 3 | 3 | 0.0% |
Summary: The Gates 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 increased by 33.3%, 3 bedroom homes decreased by 2.9%, 4 bedroom homes increased by 16.7%, and 5+ bedroom homes remained the same.
Number of Homes Sold
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 13 | 13 | 0.0% |
Asking Price vs. Sold Price
2 Homes Were Sold
Under Asking
0 Homes Were Sold
At Asking
11 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Gates, you could pay more than the asking price. 84.6% of homes here sold above asking price last month.
Summary: A total of 13 homes were sold or pending in Gates in March 2024, the same as the previous month. Of the 13 sold homes, 15% were sold under asking, 0% were sold at asking, and 85% 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
| Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|
| 108 Days | 10 Days | -90.8% |
Summary: Homes in Gates had an average of 10 days on market in Mar 2024, down by 90.8% compared to last year.
Breakdown of Home Sale Times
13 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 March 2024, 13 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.
