Is Erie, CO a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Erie is a seller's market

Buyer's
Market

Difference Since May 2023

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

Key Takeaway

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

Housing Prices in Erie, CO

How much do homes in Erie, CO cost?

Median Sold Price

$735,375

$285/sqft

Based on all homes sold in the last 12 months.

Difference Since May 2023

+$5,375(+0.7%)

Key Takeaway

Homes in Erie have sold for 0.7% more than they did a year ago.

Summary: The median home sold price in Erie was $735,375 in May 2024, up 0.7% from last year, and the median price per square foot was $285.

Median Sold Price By Bedroom Count

# BEDSMay 2023May 2024CHANGE
1 --
N/A
2 $449.5K$360K
-19.9%
3 $650K$640K
-1.5%
4 $764K$748.5K
-2.0%
5+ $925K$934.9K
+1.1%

Summary: Erie housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes decreased by 19.9%, 3 bedroom homes decreased by 1.5%, 4 bedroom homes decreased by 2%, and 5+ bedroom homes increased by 1.1%.

Median Sold Price Compared To Nearby Cities

Dacono
+5.0%
Lafayette
+3.0%
Erie
+0.7%
Erie-Frederick
-0.1%
Frederick
-3.5%

Housing Supply in Erie, CO

How many homes are available in Erie, CO?

Number of Homes For Sale

Apr 2024May 2024CHANGE
230308+33.9%

Summary: The Erie real estate market had 308 homes for sale in May 2024, a 33.9% increase compared to April 2024.

Homes For Sale By Bedroom Count

# BEDSApr 2024May 2024CHANGE
1 00
0.0%
2 1930
+57.9%
3 7598
+30.7%
4 7591
+21.3%
5+ 6189
+45.9%

Summary: The Erie housing inventory by bedroom type for May 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes increased by 57.9%, 3 bedroom homes increased by 30.7%, 4 bedroom homes increased by 21.3%, and 5+ bedroom homes increased by 45.9%.

Number of Homes Sold

Apr 2024May 2024CHANGE
4469+56.8%

Asking Price vs. Sold Price

26 Homes Were Sold
Under Asking

26 Homes Were Sold
At Asking

17 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Erie, you may be able to get a good deal. 37.7% of homes here sold below asking price last month.

Summary: A total of 69 homes were sold or pending in Erie in May 2024, up by 56.8% month-over-month. Of the 69 sold homes, 38% were sold under asking, 38% were sold at asking, and 25% were sold over asking.

Days on Market for Erie, CO

How long does it take to sell a home in Erie, CO?

Average Sale Time

May 2023May 2024CHANGE
39 Days40 Days+2.5%

Summary: Homes in Erie had an average of 40 days on market in May 2024, up by 2.5% compared to last year.

Breakdown of Home Sale Times

32 Homes Were Sold
Under 30 Days

29 Homes Were Sold
In 30 - 90 Days

8 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

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

Summary: During May 2024, 69 homes were sold in Erie; 46% of homes were sold within 30 days, 42% of homes were sold within 30 to 90 days, and 12% of homes were sold over 90 days.

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

Report Updated 1 Day Ago

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