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

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Gates is a seller's market

Buyer'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

$204,500

$143/sqft

Based on all homes sold in the last 12 months.

Difference Since February 2023

+$25,367(+14.2%)

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
+36.3%
2 $155K$181K
+16.8%
3 $177K$203.5K
+15.0%
4 $190.7K$217.5K
+14.1%
5+ $205K$268.5K
+31.0%

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

Greece
+14.8%
Gates
+14.2%
Rochester
+8.5%
Chili
+7.6%

Housing Supply in Gates, NY

How many homes are available in Gates, NY?

Number of Homes For Sale

Jan 2024Feb 2024CHANGE
6640-39.4%

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
0.0%
2 107
-30.0%
3 4326
-39.5%
4 85
-37.5%
5+ 52
-60.0%

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
299-69.0%

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

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