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Algeria Farm

ERIE, PA 16505

Real Estate Market Report  ·  Erie County
Buyer's Market
March 2026  ·  Source: Realtor.com

Market Analysis

Data as of March 2026. Source: Realtor.com.

The ERIE, PA real estate market (16505) currently shows 33 active listings, with 19 pending sales. Homes are averaging 47 days on the market before going under contract.

Inventory has increased compared to last year, with 8 more homes available — giving buyers more choice.

Homes are taking longer to sell, averaging 47 days on market compared to 26 days last year.

The median listing price has fallen 20% year-over-year, from $299,900 to $239,975.

Whether you are buying or selling in ERIE, PA, SELL123.com can help you save significantly on commission — typically 2% compared to traditional 5% broker fees. Call (240) SELL-123 for a free consultation.

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Market Context

Market Context

Population: 16,136  ·  Density: 534.4/mi²  ·  Median household income: $69,884

Typical home value: $188,212  ·  Homeownership: 76.7%

Market Overview

Active Listings
33
⇧ 32% vs 25 last year
Pending
19
58% pending ratio
Median Price
$239,975
⇩ 20% vs $299,900 last year
Average Price
$399,043
⇩ 6.3% vs $425,846 last year
Days on Market
47
⇧ 80.8% vs 26 days last year

Price Per Square Foot

Median $/sqft
$180
⇩ 5.3% vs $190/sqft last year
Median Home Size
1,510 sqft
Typical listing size
12-Month $/sqft Trend

Market Trends

Inventory & Days on Market

Year over Year
  • Listings: 33 this year vs 25 last year
  • Days on market: 47 now vs 26 last year

Median & Average Pricing

Year over Year
  • Median: $239,975 (-20% YoY)
  • Average: $399,043 (-6.3% YoY)

12-Month Price Trend

Median & Average
  • Median and average listing prices over the past 12 months

12-Month Inventory Trend

Active & Pending
  • Active and pending listing counts over the past 12 months

Historical Trend Charts

Median Price
Average Price
Days on Market
Total Listings
Pending Listings
Active Listings
New Listings
Price Per Sqft
Price Reduced %

Nearby Real Estate Markets

Median Price Legend:
< $250K
$250K–$500K
$500K–$1M
$1M–$2M
> $2M
25 Nearby Zip Code Markets within 22.9 miles — 198 listings ($62,975,045 combined market value)
Zip City / State Distance Listings Market Value Median $ Average $
16505Erie, PA 165050.0 mi27$11,310,705$249,425$418,915
16508Erie, PA 165083.0 mi30$6,288,000$148,050$209,600
16506Erie, PA 165063.7 mi38$15,187,156$356,175$399,662
16504Erie, PA 165044.9 mi35$5,846,155$154,175$167,033
16415Fairview, PA 164157.4 mi19$7,843,447$374,950$412,813
16426McKean, PA 164269.4 mi5$1,833,250$237,500$366,650
16421Harborcreek, PA 1642111.3 mi2$639,200$319,600$319,600
16417Girard, PA 1641713.3 mi11$2,552,935$223,675$232,085
16412Edinboro, PA 1641216.3 mi21$8,096,697$330,600$385,557
16442Wattsburg, PA 1644217.1 mi3$480,000$160,000$160,000
14736Findley Lake, NY 1473620.4 mi5$2,362,500$477,500$472,500
16443West Springfield, PA 1644321.3 mi1$110,000$110,000$110,000
16440Venango, PA 1644022.9 mi1$425,000$425,000$425,000

Frequently Asked Questions

How many homes are for sale in ERIE, PA 16505?

As of March 2026, there are 33 active listings in ERIE, PA (zip code 16505), compared to 25 the prior year.

What is the median home price in ERIE, PA 16505?

The median listing price in ERIE, PA 16505 is $239,975 as of March 2026, a 20% decrease from $299,900 the prior year.

How long do homes stay on the market in ERIE, PA?

Homes in ERIE, PA 16505 spend an average of 47 days on the market before going under contract, compared to 26 days the prior year.

Is it a seller's or buyer's market in ERIE, PA 16505?

Based on current inventory and days-on-market data as of March 2026, ERIE, PA 16505 is currently a Buyer's Market. Inventory has increased compared to last year, with 8 more homes available — giving buyers more choice. Homes are taking longer to sell, averaging 47 days on market compared to 26 days last year.

How much can I save on real estate commission in ERIE, PA?

With SELL123.com's maximum 3% commission, sellers in ERIE, PA 16505 save an estimated $4,800 compared to a typical 5% commission on the median listing price of $239,975. Our fee structure: 1% listing + 2% selling broker — no additional buyer or seller fees. Call (240) SELL-123 or email info@SELL123.com for a free consultation.