Is Erie, PA 16502 a buyer’s or seller’s market?

The Erie housing market right now

In the three months ending August 31, 2026, 44% of homes in Erie, PA 16502 sold above their list price, the typical home went under contract in 7 days and there were 1.2 months of supply. Under four months of supply means sellers have the edge: expect competition for well-priced homes. That’s based on 37 home sales.

Compared with the same period a year earlier, the share selling over asking rose from 27%, homes sold about as fast and the median sale price rose 18% to $135,941. Overall, Erie is more competitive than a year ago, so tougher for buyers.

Within Erie County, homes here sell faster than in 67% of the county’s ZIP codes, and sell more often over asking than in 71%. On our competition score, Erie ranks #79 of 601 PA ZIP codes with enough sales (score 91 out of 100).

Nearby, buyers who want less competition could look at Albion 16401 (17% sold over asking) or Erie 16503 (18% sold over asking), while West Springfield 16443 (100% sold over asking) and Harborcreek 16421 (60% sold over asking) are even more competitive.