Is Erie County, NY a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since March 2023
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.
Housing Prices in Erie County, NY
How much do homes in Erie County, NY cost?
Median Sold Price
$250,014
$169/sqft
Based on all homes sold in the last 12 months.
Difference Since March 2023
Key Takeaway
Homes in Erie County have sold for 2.2% more than they did a year ago.
Summary: The median home sold price in Erie County was $250,014 in March 2024, up 2.2% from last year, and the median price per square foot was $169.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $142.5K | $153.5K | +7.7% |
| 2 Bedrooms | $191K | $210.1K | +10.0% |
| 3 Bedrooms | $234.3K | $249.7K | +6.6% |
| 4 Bedrooms | $330K | $300K | -9.1% |
| 5+ Bedrooms | $360.8K | $250K | -30.7% |
Summary: Erie County housing prices by bedroom type for March 2024 compared to the previous year: The home price of 1 bedroom homes increased by 7.7%, 2 bedroom homes increased by 10%, 3 bedroom homes increased by 6.6%, 4 bedroom homes decreased by 9.1%, and 5+ bedroom homes decreased by 30.7%.
Median Sold Price Compared To Nearby Counties
| Wyoming County | $150.6K | $165K | +9.5% |
| Niagara County | $190K | $195.8K | +3.1% |
| Erie County | $244.6K | $250K | +2.2% |
| Genesee County | $175.3K | $178.5K | +1.8% |
| Cattaraugus County | $143.7K | $145.7K | +1.4% |
Housing Supply in Erie County, NY
How many homes are available in Erie County, NY?
Number of Homes For Sale
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 1,993 | 1,859 | -6.7% |
Summary: The Erie County real estate market had 1,859 homes for sale in March 2024, a 6.7% decrease compared to February 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 26 | 35 | +34.6% |
| 2 Bedrooms | 261 | 261 | 0.0% |
| 3 Bedrooms | 828 | 733 | -11.5% |
| 4 Bedrooms | 519 | 504 | -2.9% |
| 5+ Bedrooms | 359 | 326 | -9.2% |
Summary: The Erie County housing inventory by bedroom type for March 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 34.6%, 2 bedroom homes remained the same, 3 bedroom homes decreased by 11.5%, 4 bedroom homes decreased by 2.9%, and 5+ bedroom homes decreased by 9.2%.
Number of Homes Sold
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 486 | 374 | -23.0% |
Asking Price vs. Sold Price
142 Homes Were Sold
Under Asking
40 Homes Were Sold
At Asking
192 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Erie County, you could pay more than the asking price. 51.3% of homes here sold above asking price last month.
Summary: A total of 374 homes were sold or pending in Erie County in March 2024, down by 23.0% month-over-month. Of the 374 sold homes, 38% were sold under asking, 11% were sold at asking, and 51% were sold over asking.
Days on Market for Erie County, NY
How long does it take to sell a home in Erie County, NY?
Average Sale Time
| Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|
| 29 Days | 31 Days | +7.1% |
Summary: Homes in Erie County had an average of 31 days on market in Mar 2024, up by 7.1% compared to last year.
Breakdown of Home Sale Times
252 Homes Were Sold
Under 30 Days
93 Homes Were Sold
In 30 - 90 Days
29 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Erie County are selling fast, if you're buying plan to act quickly.
Summary: During March 2024, 374 homes were sold in Erie County; 67% of homes were sold within 30 days, 25% of homes were sold within 30 to 90 days, and 8% of homes were sold over 90 days.
Listings courtesy of OneKey MLS as distributed by MLS GRID.
The data relating to real estate for sale on this web site comes in part from the Broker Reciprocity Program of the OneKey™ MLS. Real Estate listings held by brokerage firms other than this broker are marked with the Broker Reciprocity logo and detailed information about them includes the name of the listing brokers. This information is provided exclusively for consumers’ personal, non-commercial use, that it may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. 
The data relating to real estate on this website comes in part from the Internet Data Exchange program of the Global MLS (GMLS). All information is deemed reliable but not guaranteed and should be independently verified. All properties subject to prior sale, change, or withdrawal. Neither listing broker(s), GMLS shall be responsible for any typographical errors, misinformation, or misprints, and shall be held totally harmless from any damages arising from reliance upon these data. IDX information is provided exclusively for consumers’ personal, non-commercial use and may not be used for any purpose other than to identify prospective properties they may be interested in purchasing.