$10,000 Closing Credit*
$1,150,000
5,074 SqFt
6 Beds
•3 Full Baths, 1 Partial
Ryan Daley, Listing Office: Keller Williams Realty Lancaster
Is Erie County, NY a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since October 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
$259,732
$175/sqft
Based on all homes sold in the last 12 months.
Difference Since October 2023
+$9,731(+3.9%)
Key Takeaway
Homes in Erie County have sold for 3.9% more than they did a year ago.
Summary: The median home sold price in Erie County was $259,732 in October 2024, up 3.9% from last year, and the median price per square foot was $175.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $142.5K | $170K | +19.3% |
| 2 Bedrooms | $206.6K | $214.9K | +4.0% |
| 3 Bedrooms | $240.2K | $255.1K | +6.2% |
| 4 Bedrooms | $316.2K | $307.5K | -2.7% |
| 5+ Bedrooms | $262.6K | $260K | -1.0% |
Summary: Erie County housing prices by bedroom type for October 2024 compared to the previous year: The home price of 1 bedroom homes increased by 19.3%, 2 bedroom homes increased by 4%, 3 bedroom homes increased by 6.2%, 4 bedroom homes decreased by 2.7%, and 5+ bedroom homes decreased by 1%.
Median Sold Price Compared To Nearby Counties
| Wyoming County | $160K | $175K | +9.4% |
| Cattaraugus County | $140K | $150K | +7.1% |
| Niagara County | $195.3K | $207.1K | +6.0% |
| Genesee County | $179.9K | $187.5K | +4.2% |
| Erie County | $250K | $259.7K | +3.9% |
Housing Supply in Erie County, NY
How many homes are available in Erie County, NY?
Number of Homes For Sale
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 3,387 | 2,939 | -13.2% |
Summary: The Erie County real estate market had 2,939 homes for sale in October 2024, a 13.2% decrease compared to September 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 32 | 33 | +3.1% |
| 2 Bedrooms | 414 | 377 | -8.9% |
| 3 Bedrooms | 1,449 | 1,228 | -15.3% |
| 4 Bedrooms | 961 | 828 | -13.8% |
| 5+ Bedrooms | 531 | 473 | -10.9% |
Summary: The Erie County housing inventory by bedroom type for October 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 3.1%, 2 bedroom homes decreased by 8.9%, 3 bedroom homes decreased by 15.3%, 4 bedroom homes decreased by 13.8%, and 5+ bedroom homes decreased by 10.9%.
Number of Homes Sold
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 804 | 667 | -17.0% |
Asking Price vs. Sold Price
184 Homes Were Sold
Under Asking
49 Homes Were Sold
At Asking
434 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Erie County, you could pay more than the asking price. 65.1% of homes here sold above asking price last month.
Summary: A total of 667 homes were sold or pending in Erie County in October 2024, down by 17.0% month-over-month. Of the 667 sold homes, 28% were sold under asking, 7% were sold at asking, and 65% 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
| Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|
| 18 Days | 19 Days | +8.3% |
Summary: Homes in Erie County had an average of 19 days on market in Oct 2024, up by 8.3% compared to last year.
Breakdown of Home Sale Times
543 Homes Were Sold
Under 30 Days
111 Homes Were Sold
In 30 - 90 Days
13 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 October 2024, 667 homes were sold in Erie County; 81% of homes were sold within 30 days, 17% of homes were sold within 30 to 90 days, and 2% 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.