Is Erie, PA 16507 a buyer’s or seller’s market?

The Erie housing market right now

In the three months ending August 31, 2026, 27% of homes in Erie, PA 16507 sold above their list price, the typical home went under contract in 11 days and there were 2.6 months of supply. Under four months of supply means sellers have the edge: expect competition for well-priced homes. That’s based on 15 home sales.

Compared with the same period a year earlier, the share selling over asking fell from 50%, homes sold about as fast and the median sale price rose 8% to $139,939. Overall, Erie is less competitive than a year ago, which gives buyers more room.

Within Erie County, homes here sell more slowly than in 62% of the county’s ZIP codes, and sell less often over asking than in 75%. On our competition score, Erie ranks #414 of 601 PA ZIP codes with enough sales (score 53 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.