Is Erie County, NY a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
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
| # BEDS | Dec 2021 | Dec 2022 | % |
|---|---|---|---|
| 1 Bedroom | $149K | $132K | -11.4% |
| 2 Bedrooms | $166.5K | $187.6K | +12.7% |
| 3 Bedrooms | $209.9K | $230.4K | +9.8% |
| 4 Bedrooms | $291K | $326.4K | +12.2% |
| 5+ Bedrooms | $343.5K | $360K | +4.8% |
Median Sold Price Compared To Nearby Counties
| Erie County | $221.2K | $240.3K | +8.6% |
| Niagara County | $175.7K | $188.3K | +7.2% |
| Genesee County | $164.9K | $174.3K | +5.7% |
| Wyoming County | $155K | $158.2K | +2.1% |
| Cattaraugus County | $145.3K | $139.9K | -3.7% |
How many homes are available in Erie County, NY?
Number of Homes For Sale
| Nov 2022 | Dec 2022 | % |
|---|---|---|
| 2,247 | 1,510 | -32.8% |
Homes For Sale By Bedroom Count
| # BEDS | Nov 2022 | Dec 2022 | % |
|---|---|---|---|
| 1 Bedroom | 17 | 11 | -35.3% |
| 2 Bedrooms | 334 | 237 | -29.0% |
| 3 Bedrooms | 1,186 | 771 | -35.0% |
| 4 Bedrooms | 596 | 400 | -32.9% |
| 5+ Bedrooms | 114 | 91 | -20.2% |
Number of Homes Sold
| Nov 2022 | Dec 2022 | % |
|---|---|---|
| 629 | 481 | -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
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 2021 | Dec 2022 | % |
|---|---|---|
| 16 Days | 20 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
Key Takeaway
Many homes in Erie County are selling fast, if you're buying plan to act quickly.
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.