Is Erie County, NY a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Erie County is a seller's market

Buyer's
Market

Difference Since December 2021

Since last year, Erie County has remained a Seller's Market.

Key Takeaway

Erie County is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.

How much do homes in Erie County, NY cost?

Median Sold Price

$240,340

$168/sqft

Based on all homes sold in the last 12 months.

Difference Since December 2021

+$19,092(+8.6%)

Key Takeaway

Homes in Erie County have sold for 8.6% more than they did a year ago.

Median Sold Price By Bedroom Count

# BEDSDec 2021Dec 2022%
1 $149K$132K
-11.4%
2 $166.5K$187.6K
+12.7%
3 $209.9K$230.4K
+9.8%
4 $291K$326.4K
+12.2%
5+ $343.5K$360K
+4.8%

Median Sold Price Compared To Nearby Counties

Erie County
+8.6%
Niagara County
+7.2%
Genesee County
+5.7%
Wyoming County
+2.1%
Cattaraugus County
-3.7%

How many homes are available in Erie County, NY?

Number of Homes For Sale

Nov 2022Dec 2022%
2,2471,510-32.8%

Homes For Sale By Bedroom Count

# BEDSNov 2022Dec 2022%
1 1711
-35.3%
2 334237
-29.0%
3 1,186771
-35.0%
4 596400
-32.9%
5+ 11491
-20.2%

Number of Homes Sold

Nov 2022Dec 2022%
629481-23.5%

Asking Price vs. Sold Price

161 Homes Were Sold
Under Asking

40 Homes Were Sold
At Asking

280 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Erie County, you could pay more than the asking price. 58.2% of homes here sold above asking price last month.

Average Sale Time

Dec 2021Dec 2022%
16 Days20 Days+22.0%

Breakdown of Home Sale Times

387 Homes Were Sold
Under 30 Days

79 Homes Were Sold
In 30 - 90 Days

15 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

Many homes in Erie County are selling fast, if you're buying plan to act quickly.

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

About Erie County, NY

Erie County, NY has 1,510 homes for sale to choose from. Between November 2022 and December 2022, Erie County, NY real estate market has seen decrease in the number of listings by 32.8%. Listings spent 20 days on the market in December 2022, and had a median list price of $240,340 during the same period. This housing market listing prices have changed between November 2022 and December 2022: prices of 1 bedroom properties went down by 11.4%, 2 bedrooms properties prices increased by 12.7%, prices of 3 bedrooms properties increased by 9.8%, prices of 4 bedrooms properties went up by 12.2%, prices of 5 bedrooms properties increased by 4.8%. Housing inventory have changed in this real estate market: 1 bedroom homes inventory decreased by 35.3%, 2 bedrooms homes inventory decreased by 29%, 3 bedrooms homes became 35% less available, volume of 4 bedrooms homes went down by 32.9%, number of 5 bedrooms homes decreased by 20.2%. Erie County, NY housing market in December 2022 saw over 280 listings sold above listed price, more than 40 sold at listed price and over 161 sold below.

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