Is Erie, CO a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since May 2023
Since last year, Erie has remained a Seller's Market.
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
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
# BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
---|---|---|---|
1 Bedroom | - | - | N/A |
2 Bedrooms | $449.5K | $360K | -19.9% |
3 Bedrooms | $650K | $640K | -1.5% |
4 Bedrooms | $764K | $748.5K | -2.0% |
5+ Bedrooms | $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 | $452.5K | $475K | +5.0% |
Lafayette | $723K | $744.9K | +3.0% |
Erie | $730K | $735.3K | +0.7% |
Erie-Frederick | $600K | $599.6K | -0.1% |
Frederick | $565K | $545K | -3.5% |
Housing Supply in Erie, CO
How many homes are available in Erie, CO?
Number of Homes For Sale
Apr 2024 | May 2024 | CHANGE |
---|---|---|
230 | 308 | +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
# BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 0 | 0 | 0.0% |
2 Bedrooms | 19 | 30 | +57.9% |
3 Bedrooms | 75 | 98 | +30.7% |
4 Bedrooms | 75 | 91 | +21.3% |
5+ Bedrooms | 61 | 89 | +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 2024 | May 2024 | CHANGE |
---|---|---|
44 | 69 | +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
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 2023 | May 2024 | CHANGE |
---|---|---|
39 Days | 40 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
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.