Erie County, Pennsylvania Real Estate Market Report (2024)

  1. Data Central
  2. Real Estate Market Report

This database contains the latest available information about the real estate trends obtained from Realtor.com. It shows how hot each market is across the state, the number of recent sales, sales trends and a report on inventory trends locally, statewide and nationally.

The following list shows the latest data of each dataset: Sales - Jan. 2024, Market Hotness - March 2024, Inventory - March 2024.

Sales - Jan. 2024

Housing TypeTotal
Total Sales Values$37,701,240
Jan. 2024Compared to A Year Ago
Number of Sales1639.40%
95th Percentile Price$437,500-9.23%
75th Percentile Price$259,95020.91%
Median Price$162,0008.07%
25th Percentile Price$110,6128.44%

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Market Hotness - March 2024

Hotness ScoreSupply ScoreDemand Score
74.855.4994.14
March 2024Compared to A Month AgoCompared to A Year Ago
Rank266 -133 -15
Median Days on Market49.5 -23.0 -5.3
Median Listing Price264,900 14.58% 34.16%

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Inventory - March 2024

March 2024Compared to A Month AgoCompared to A Year Ago
Median Listing Price$264,900 14.58% 34.16%
Median Price Per Square Foot$152 13.17% 23.15%
Median Days on Market50 -31.72% -9.59%
Active Listing Count178 -7.53% -1.93%
New Listing Count160 11.11% 9.59%
Pending Listing Count230 8.75% 13.02%
Total Listing Count411 1.73% 6.06%

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Market Hotness Map (March 2024)

View the map as of

(UTC)

Hotness Score

More than 90

80 - 90

70 - 80

60 - 70

50 - 60

40 - 50

30 - 40

20 - 30

10 - 20

0 - 10

Not Available

Source: Realtor.com

Top 100 Hottest Markets (March 2024)

RankHotness ScoreSupply ScoreDemand ScoreNameMedian Listing PriceAverage Days on Market
1100100100Monroe County, NY$250,00010.0
2100100100Hillsborough County, NH$549,90019.0
39910099Essex County, MA$799,90018.0
49998100Bristol County, RI$619,99924.0
4999999Hampden County, MA$324,90023.0
6999899Morrow County, OH$329,99924.0
7989997Worcester County, MA$525,00022.0
89896100Fairfield County, OH$350,00028.5
9989798Seneca County, NY$279,40026.0
10989897Hampshire County, MA$499,70025.5
11979599Windham County, CT$379,90029.0
12979896Greene County, OH$358,02024.0
13979599Merrimack County, NH$569,95029.0
14979896Morris County, NJ$699,00024.0
15979599Knox County, OH$362,00029.5
16979499Strafford County, NH$539,00030.0
17979598Madison County, OH$309,90029.0
18969598Lycoming County, PA$239,90029.0
19969795Cole County, MO$365,00026.0
20969895Pickaway County, OH$374,99525.5
21969498Ross County, OH$245,00030.0
22969498Wayne County, NY$309,90030.0
23969993Somerset County, NJ$649,94923.0
24969399Livingston County, NY$181,45031.0
25969596Winnebago County, WI$349,50029.0
26969398Delaware County, OH$575,00031.0
27969299Rockingham County, NH$699,90032.0
28959793Defiance County, OH$199,95027.5
29959298Adams County, NE$277,00032.0
30959793Franklin County, OH$342,00026.0
31959694Burlington County, NJ$389,77728.0
32959496Bristol County, MA$541,45030.0
32959397Wayne County, OH$282,50031.0
34959496Plymouth County, MA$689,99930.0
35959891Chittenden County, VT$549,50024.5
36959594Kenosha County, WI$329,90029.0
37959396Alpena County, MI$182,40031.0
37959495Tuscarawas County, OH$200,00030.0
39959792Hardin County, OH$159,90026.0
40959891Ashland County, OH$299,00025.0
40959594Jefferson County, WI$369,45029.0
42959990Norfolk County, MA$972,49722.0
43949593Fulton County, OH$231,45029.0
44949297Eau Claire County, WI$397,45032.5
45949098Wood County, OH$325,00033.0
46949395Miami County, OH$332,00031.5
479410088Middlesex County, MA$1,077,00017.0
48949790Tippecanoe County, IN$369,90026.0
49949296Richland County, OH$220,00032.0
50949394Dearborn County, IN$365,00031.0
51949691Northampton County, PA$424,00028.0
529387100Geauga County, OH$400,00035.5
53938799Tolland County, CT$399,99935.0
54938998Columbia County, PA$265,00034.5
55939097Fayette County, OH$214,50033.5
56939294Gloucester County, NJ$357,00032.0
57939096Licking County, OH$426,95033.5
58938799Sullivan County, NH$424,00035.0
59939294Rock County, WI$329,45032.0
60939095Tazewell County, IL$184,90033.0
61939393Barron County, WI$365,00031.5
62939491Clark County, OH$187,90030.5
62939095Pulaski County, VA$269,95033.0
64929589Howard County, IN$212,30029.0
649285100Hartford County, CT$359,90036.0
66929392Sheboygan County, WI$334,90031.5
67928797Winnebago County, IL$209,90035.0
67928995Huron County, OH$189,95034.5
69929985Passaic County, NJ$479,99923.0
70919885Butler County, OH$342,45025.0
71919093Carroll County, OH$299,90033.0
72919488Camden County, NJ$325,00030.0
73919091Waukesha County, WI$550,24533.0
74918992Bucks County, PA$648,89134.0
75909684Middlesex County, NJ$515,00028.0
76908398New London County, CT$459,90037.0
76909091Pierce County, WI$401,73433.5
78909882Union County, NJ$550,00025.0
79909783Lehigh County, PA$376,90027.0
809080100Middlesex County, CT$559,90038.5
80908991Dunn County, WI$344,45034.0
82909485Coles County, IL$109,00030.0
83909782DuPage County, IL$474,94527.0
84898396Fairfield County, CT$949,00037.0
84898990Providence County, RI$399,90034.0
86899088Clinton County, IN$265,00033.0
87898197Carlton County, MN$337,45038.0
88898594Kent County, RI$450,00036.0
88898197Midland County, MI$299,00038.0
90899385McHenry County, IL$399,99031.0
91898790Dodge County, WI$339,90035.0
92888592Warren County, OH$489,00036.0
93888790Lee County, IL$199,95035.0
94888592Summit County, OH$195,00036.0
94889581McLeod County, MN$339,90029.0
96889679Christian County, MO$395,00028.0
97889284Warren County, NJ$399,50032.5
98887997Putnam County, WV$280,00039.0
99888788Green County, WI$334,90035.0
100878787Shawnee County, KS$239,90035.0

Related Databaes

Current and Historical Mortgage RatesWeekly average mortgage rates since 1971.

Related Area

United StatesPennsylvaniaErie, PA Metro Area147241473614775164011640316407164111641216415164171642116423164281643816441164421650216503165041650516506165071650816509165101651144030

CB_STUSPS: PA

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Erie County, Pennsylvania Real Estate Market Report (2024)

FAQs

Is Erie PA a good place to invest in real estate? ›

It's a Smart Investment

Many people considering whether or not to buy a house in Erie aren't planning to make it their primary home. For those of you looking for a wise investment, you might just find it here. Data from Mashvisor shows a particularly healthy cash-on-cash return for properties in Erie.

How is the housing market right now in PA? ›

The average Pennsylvania home value is $261,312, up 5.4% over the past year and goes to pending in around 11 days.

Is it a buyers or sellers market in PA? ›

Economy Housing Market Report Beaver County, Pennsylvania. Is Economy, PA a buyer's or seller's market? Since last year, Economy has remained a Seller's Market. Economy is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.

Is Allentown PA a good place to invest in real estate? ›

What makes Allentown a prime location for real estate investment? Allentown offers a diverse real estate landscape, rapid property sales, and a steady rise in home values, employment, and population growth.

Who should not invest in real estate? ›

2. People without capital. While there are ways around cash on hand when you're looking for money for a down payment, including a HELOC loan or down payment assistance, investing in real estate without capital is not the best idea. It can put individuals in a precarious financial situation if anything were to go wrong.

Are home prices dropping in PA? ›

Pennsylvania Housing Market Overview

In March 2024, home prices in Pennsylvania were up 6.4% compared to last year, selling for a median price. On average, the number of homes sold was down 10.4% year over year and there were 9,153 homes sold in March this year, down 10,208 homes sold in March last year.

Why are homes so expensive in PA? ›

The current Pennsylvania real estate market statistics reflect the national trend of high demand and low supply. Home sales and property prices in Pennsylvania increased despite 2023's slow market.

Are housing prices dropping in PA? ›

For Pennsylvania, home values have increased a whopping 5.4% in the past year. However, there are some cities in Pennsylvania where prices aren't increasing at all and, in fact, are getting cheaper.

Do buyers pay closing costs in PA? ›

Both the seller and the buyer each pay their share of closing costs in Pennsylvania, as they do in all states. Often, sellers pay more in closing costs than buyers because they typically cover real estate commissions, which can run up to 6 percent of the final sale price.

What are buyers closing costs in PA? ›

The closing costs can range anywhere from 1 percent to 7 percent. However, Pennsylvania home buyers usually pay 5 to 6 percent of the home's value. Before taxes, the total average closing cost is about $4,000. After taxes, the total average closing cost can be around $10,000 or more.

Is it a good time to sell a house in PA? ›

June, July, and August are the best months to sell your house in Pennsylvania. The median sale price of houses in June 2023 was $298,400, which is expected to rise in 2024. However, cities like Bethlehem and New Castle follow an upward trend throughout the year.

Is it expensive to live in Erie PA? ›

The cost of living in Erie, PA is 8% lower than the state average and 12% lower than the national average. Erie, PA housing is 44% cheaper than the U.S average, while utilities are about 8% pricier.

What rank is Erie PA in population? ›

It is the fifth-most populous city in Pennsylvania and the most populous in Northwestern Pennsylvania with a population of 94,831 at the 2020 census. The Erie metropolitan area, equivalent to all of Erie County, had a population of 270,876 in 2020.

Is Pennsylvania a good state to invest in? ›

Pennsylvania has a number of opportunities for real estate investors, especially those looking to build their portfolios. Over the past years, Pennsylvania has prospered and seen economic growth as well as diversification. The state's economic growth translates into a significant number of homebuyers and renters.

Is Erie PA wealthy? ›

The per capita income in Erie in 2018 was $25,090, which is low income relative to Pennsylvania, and lower middle income relative to the rest of the US. This equates to an annual income of $100,360 for a family of four. However, Erie contains both very wealthy and poor people as well.

Which real estate is best to invest in? ›

One reason commercial properties are considered one of the best types of real estate investments is the potential for higher cash flow. Investors who opt for commercial properties may find they represent higher income potential, longer leases, and lower vacancy rates than other forms of real estate.

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