Homes For Sale Gates Mills Ohio

As of June 2024, home prices in Gates Mills experienced a significant decline, dropping by 38.5% compared to the previous year. This sharp decrease brought the median selling price down to $615,000. The decline in property values indicates a substantial shift in the local real estate market for Gates Mills Ohio homes for sale, reflecting broader economic conditions or changes in buyer behavior. Such a notable reduction in home prices may influence both current homeowners and prospective buyers as they navigate the evolving market dynamics in Gates Mills.

The Gates Mills housing market is somewhat competitive, with noticeable changes in pricing over the past year. Last month, the median sale price of a home in Gates Mills was $615,000, reflecting a significant decline of 38.5% compared to the previous year. Additionally, the median sale price per square foot dropped to $215, marking a 5.3% decrease since last year. These shifts in the market underscore the evolving dynamics in Gates Mills homes for sale, impacting both property values and the competitiveness of home sales in the area.

Among those interested in houses for sale in Gates Mills, Ohio, 21% of homebuyers searched to move out of Gates Mills, while 79% preferred to stay within the metropolitan area. New York homebuyers showed the highest interest in moving into Gates Mills, followed by those from Wheeling and Los Angeles. Conversely, Columbus emerged as the most popular destination for Gates Mills homebuyers, with Youngstown and Cape Coral following closely behind.