Is Gates, NY a buyer’s or seller’s market?

Housing Market Conditions



Gauge showing Gates is a seller's market


Difference Since February 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



Based on all homes sold in the last 12 months.

Difference Since February 2023


Key Takeaway

Homes in Gates have sold for 14.2% more than they did a year ago.

Summary: The median home sold price in Gates was $204,500 in February 2024, up 14.2% from last year, and the median price per square foot was $143.

Median Sold Price By Bedroom Count

# BEDSFeb 2023Feb 2024CHANGE
1 $80K$109K
2 $155K$181K
3 $177K$203.5K
4 $190.7K$217.5K
5+ $205K$268.5K

Summary: Gates housing prices by bedroom type for February 2024 compared to the previous year: The home price of 1 bedroom homes increased by 36.3%, 2 bedroom homes increased by 16.8%, 3 bedroom homes increased by 15%, 4 bedroom homes increased by 14.1%, and 5+ bedroom homes increased by 31%.

Median Sold Price Compared To Nearby Cities


Housing Supply in Gates, NY

How many homes are available in Gates, NY?

Number of Homes For Sale

Jan 2024Feb 2024CHANGE

Summary: The Gates real estate market had 40 homes for sale in February 2024, a 39.4% decrease compared to January 2024.

Homes For Sale By Bedroom Count

# BEDSJan 2024Feb 2024CHANGE
1 00
2 107
3 4326
4 85
5+ 52

Summary: The Gates housing inventory by bedroom type for February 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes decreased by 30%, 3 bedroom homes decreased by 39.5%, 4 bedroom homes decreased by 37.5%, and 5+ bedroom homes decreased by 60%.

Number of Homes Sold

Jan 2024Feb 2024CHANGE

Asking Price vs. Sold Price

1 Home Was Sold
Under Asking

1 Home Was Sold
At Asking

7 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Gates, you could pay more than the asking price. 77.8% of homes here sold above asking price last month.

Summary: A total of 9 homes were sold or pending in Gates in February 2024, down by 69.0% month-over-month. Of the 9 sold homes, 11% were sold under asking, 11% were sold at asking, and 78% 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

Feb 2023Feb 2024CHANGE
14 Days15 Days+0.5%

Summary: Homes in Gates had an average of 15 days on market in Feb 2024, up by 0.5% compared to last year.

Breakdown of Home Sale Times

7 Homes Were Sold
Under 30 Days

2 Homes Were Sold
In 30 - 90 Days

0 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

Many homes in Gates are selling fast, if you're buying plan to act quickly.

Summary: During February 2024, 9 homes were sold in Gates; 78% of homes were sold within 30 days, 22% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.

Housing Market Reports are calculated by Rocket Homes Real Estate and based on information from the MLS.

Report Updated 3 Days Ago

Newest Listings in Gates, NY

Nearby Markets to Gates, NY

What housing markets are near Gates, NY?