Is Gates, NY a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since June 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 June 2023
Key Takeaway
Homes in Gates have sold for 13.3% more than they did a year ago.
Summary: The median home sold price in Gates was $205,000 in June 2024, up 13.3% from last year, and the median price per square foot was $144.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Jun 2023 | Jun 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $71.2K | $109K | +53.0% |
| 2 Bedrooms | $159.2K | $180K | +13.0% |
| 3 Bedrooms | $180K | $210K | +16.7% |
| 4 Bedrooms | $194K | $209K | +7.7% |
| 5+ Bedrooms | $210K | $257.5K | +22.6% |
Summary: Gates housing prices by bedroom type for June 2024 compared to the previous year: The home price of 1 bedroom homes increased by 53%, 2 bedroom homes increased by 13%, 3 bedroom homes increased by 16.7%, 4 bedroom homes increased by 7.7%, and 5+ bedroom homes increased by 22.6%.
Housing Supply in Gates, NY
How many homes are available in Gates, NY?
Number of Homes For Sale
| May 2024 | Jun 2024 | CHANGE |
|---|---|---|
| 72 | 73 | +1.4% |
Summary: The Gates real estate market had 73 homes for sale in June 2024, a 1.4% increase compared to May 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | May 2024 | Jun 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 0 | 0 | 0.0% |
| 2 Bedrooms | 11 | 9 | -18.2% |
| 3 Bedrooms | 45 | 47 | +4.4% |
| 4 Bedrooms | 12 | 14 | +16.7% |
| 5+ Bedrooms | 4 | 3 | -25.0% |
Summary: The Gates housing inventory by bedroom type for June 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes decreased by 18.2%, 3 bedroom homes increased by 4.4%, 4 bedroom homes increased by 16.7%, and 5+ bedroom homes decreased by 25%.
Number of Homes Sold
| May 2024 | Jun 2024 | CHANGE |
|---|---|---|
| 21 | 22 | +4.8% |
Asking Price vs. Sold Price
1 Home Was Sold
Under Asking
1 Home Was Sold
At Asking
20 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Gates, you could pay more than the asking price. 90.9% of homes here sold above asking price last month.
Summary: A total of 22 homes were sold or pending in Gates in June 2024, up by 4.8% month-over-month. Of the 22 sold homes, 5% were sold under asking, 5% were sold at asking, and 91% 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
| Jun 2023 | Jun 2024 | CHANGE |
|---|---|---|
| 8 Days | 7 Days | -7.7% |
Summary: Homes in Gates had an average of 7 days on market in Jun 2024, down by 7.7% compared to last year.
Breakdown of Home Sale Times
21 Homes Were Sold
Under 30 Days
1 Home Was 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 June 2024, 22 homes were sold in Gates; 95% of homes were sold within 30 days, 5% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.
