Is Erie, PA 16541 a buyer’s or seller’s market?
Erie is a seller’s market. With about 1.1 months of supply and 67% of recent sales closing above the original list price, competing offers are common on well-priced homes. Buyers here often have a pre-approval in hand and a plan for the appraisal gap before touring.
The Erie housing market right now
In the three months ending August 31, 2026, 67% of homes in Erie, PA 16541 sold above their list price, the typical home went under contract in 7 days and there were 1.1 months of supply. Under four months of supply means sellers have the edge: expect competition for well-priced homes. With only 6 sales, these figures can swing a lot from month to month.
Compared with the same period a year earlier, the share selling over asking rose from 43%, homes sold about as fast and the median sale price rose 42% to $212,408. Overall, Erie is more competitive than a year ago, so tougher for buyers.
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Where Erie is
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Questions about Erie real estate
Is Erie a buyer’s or seller’s market?
A seller’s market: there were 1.1 months of supply in Erie, PA 16541 in the three months ending August 31, 2026. Under four months usually favors sellers, and more than six favors buyers.
How fast do homes sell in Erie?
The typical home went under contract in 7 days in the latest three months.
Do homes in Erie sell over asking?
67% of homes sold above their original list price, and the typical sale closed at 102.6% of the list price.
What is the median home price in Erie?
The median sale price was $212,408 in the three months ending August 31, 2026, about $87 per square foot.
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Market data describes housing activity only. Figures are rolling 3-month values from Redfin and may be revised. Methodology