In May 2020, there were seven homes sold, with a median sale price of $455,000 - a 70.4% increase over the $267,000 median sale price for the same period of the previous year. There were four homes sold in Gates Mills in May 2019.
The median sales tax in Gates Mills for the most recent year with available data, 2016, was $14,239, approximately 3.1% of the median home sale price for May 2020.
The following table compares Gates Mills to other Cuyahoga County cities with similar median sales prices in May 2020:
| City | May 2020 Home Sales | May 2019 Home Sales | % change (Total Home Sales) | May 2020 Median Sales Price | May 2019 Median Sales Price | % change (Median Sales Price) |
|---|---|---|---|---|---|---|
| Hunting Valley | 1 | 2 | -50% | $2,500,000 | $1,625,000 | 53.8% |
| Bentleyville | 1 | 1 | 0% | $1,097,000 | $900,000 | 21.9% |
| Orange | 2 | 8 | -75% | $461,250 | $298,750 | 54.4% |
| Gates Mills | 7 | 4 | 75% | $455,000 | $267,000 | 70.4% |
| Pepper Pike | 11 | 13 | -15.4% | $382,000 | $572,000 | -33.2% |
| Solon | 20 | 44 | -54.5% | $372,750 | $287,500 | 29.7% |
| Beachwood | 7 | 20 | -65% | $367,000 | $282,500 | 29.9% |
| Chagrin Falls | 5 | 18 | -72.2% | $355,000 | $294,950 | 20.4% |
| Independence | 6 | 11 | -45.5% | $294,000 | $256,000 | 14.8% |
| Moreland Hills | 5 | 7 | -28.6% | $285,000 | $304,100 | -6.3% |
| Rocky River | 29 | 49 | -40.8% | $265,000 | $223,500 | 18.6% |
Alerts Sign-up