Is Gates Mills, OH a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Gates Mills is a buyer's market

Buyer's
Market

Difference Since October 2021

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.

How much do homes in Gates Mills, OH cost?

Median Sold Price

$597,750

$164/sqft

Based on all homes sold in the last 12 months.

Difference Since October 2021

-$2,875(-0.5%)

Key Takeaway

The sold price of homes in Gates Mills has remained the same since last year.

Median Sold Price By Bedroom Count

# BEDSOct 2021Oct 2022%
1 --
N/A
2 -$500K
N/A
3 $375K$472.5K
+26.0%
4 $605K$555.2K
-8.2%
5+ $762.9K$797.5K
+4.5%

Median Sold Price Compared To Nearby Cities

Mayfield
+15.8%
Mayfield Heights
+13.4%
Chester Township
+11.3%
Gates Mills
-0.5%

How many homes are available in Gates Mills, OH?

Number of Homes For Sale

Sep 2022Oct 2022%
2123+9.5%

Homes For Sale By Bedroom Count

# BEDSSep 2022Oct 2022%
1 00
0.0%
2 12
+100.0%
3 32
-33.3%
4 78
+14.3%
5+ 1011
+10.0%

Number of Homes Sold

Sep 2022Oct 2022%
13+200.0%

Asking Price vs. Sold Price

2 Homes Were Sold
Under Asking

0 Homes Were Sold
At Asking

1 Home Was Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Gates Mills, you may be able to get a good deal. 66.7% of homes here sold below asking price last month.

Average Sale Time

Oct 2021Oct 2022%
207 Days52 Days-74.8%

Breakdown of Home Sale Times

0 Homes Were Sold
Under 30 Days

3 Homes Were Sold
In 30 - 90 Days

0 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

Avg time on Rocket Homes in Gates Mills has remained consistent over time.

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

About Gates Mills, OH

There are 23 homes are for sale in Gates Mills, OH real estate market. The inventory of homes for sale in Gates Mills, OH between September 2022 and October 2022 increased by 9.5%. In October 2022, listings were on the market for 52 days. During the same period, the median list price in this real estate market was $597,750. Real estate listing prices changed between September 2022 and October 2022: 1 bedroom properties prices increased by 0%, 2 bedrooms properties prices increased by 0%, 3 bedrooms properties prices increased by 26%, 4 bedrooms properties became 8.2% more cheaper, prices of 5 bedrooms properties went up by 4.5%. Volume of homes for sale in this real estate market have seen the following changes: number of 1 bedroom homes remained the same, the quantity of 2 bedrooms homes went up by 100%, number of 3 bedrooms homes decreased by 33.3%, the quantity of 4 bedrooms homes went up by 14.3%, number of 5 bedrooms homes increased by 10%. In October 2022 more than 1 listings in Gates Mills, OH were sold above the asking price. During the same period more than 0 listings were sold at asking price, while more than 2 were sold below.

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