Is Gates Mills, OH a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since April 2023
At the same time last year, Gates Mills was a Neutral Market.
Housing Prices in Gates Mills, OH
How much do homes in Gates Mills, OH cost?
Median Sold Price
$762,500
$165/sqft
Based on all homes sold in the last 12 months.
Difference Since April 2023
Summary: The median home sold price in Gates Mills was $762,500 in April 2024, up 27.1% from last year, and the median price per square foot was $165.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | Apr 2023 | Apr 2024 | CHANGE |
---|---|---|---|
1 Bedroom | - | - | N/A |
2 Bedrooms | $487.5K | - | N/A |
3 Bedrooms | $408.5K | $482.5K | +18.1% |
4 Bedrooms | $570K | $740K | +29.8% |
5+ Bedrooms | $817.5K | $925K | +13.1% |
Summary: Gates Mills housing prices by bedroom type for April 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes did not change, 3 bedroom homes increased by 18.1%, 4 bedroom homes increased by 29.8%, and 5+ bedroom homes increased by 13.1%.
Median Sold Price Compared To Nearby Cities
Gates Mills | $600K | $762.5K | +27.1% |
Willoughby Hills | $267K | $326.2K | +22.2% |
Mayfield Heights | $193K | $217.2K | +12.6% |
Chester Township | $325K | $335K | +3.1% |
Mayfield | $380K | $340K | -10.5% |
Housing Supply in Gates Mills, OH
How many homes are available in Gates Mills, OH?
Number of Homes For Sale
Mar 2024 | Apr 2024 | CHANGE |
---|---|---|
13 | 17 | +30.8% |
Summary: The Gates Mills real estate market had 17 homes for sale in April 2024, a 30.8% increase compared to March 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Mar 2024 | Apr 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 0 | 0 | 0.0% |
2 Bedrooms | 1 | 1 | 0.0% |
3 Bedrooms | 1 | 0 | -100.0% |
4 Bedrooms | 9 | 12 | +33.3% |
5+ Bedrooms | 2 | 4 | +100.0% |
Summary: The Gates Mills housing inventory by bedroom type for April 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes remained the same, 3 bedroom homes decreased by 100%, 4 bedroom homes increased by 33.3%, and 5+ bedroom homes increased by 100%.
Number of Homes Sold
Mar 2024 | Apr 2024 | CHANGE |
---|---|---|
3 | 4 | +33.3% |
Asking Price vs. Sold Price
2 Homes Were Sold
Under Asking
0 Homes Were Sold
At Asking
2 Homes Were Sold
Over Asking
Summary: A total of 4 homes were sold or pending in Gates Mills in April 2024, up by 33.3% month-over-month. Of the 4 sold homes, 50% were sold under asking, 0% were sold at asking, and 50% were sold over asking.
Days on Market for Gates Mills, OH
How long does it take to sell a home in Gates Mills, OH?
Average Sale Time
Apr 2023 | Apr 2024 | CHANGE |
---|---|---|
96 Days | 43 Days | -55.4% |
Summary: Homes in Gates Mills had an average of 43 days on market in Apr 2024, down by 55.4% compared to last year.
Breakdown of Home Sale Times
3 Homes Were Sold
Under 30 Days
0 Homes Were Sold
In 30 - 90 Days
1 Home Was Sold
Over 90 Days
Summary: During April 2024, 4 homes were sold in Gates Mills; 75% of homes were sold within 30 days, 0% of homes were sold within 30 to 90 days, and 25% of homes were sold over 90 days.