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ERIE, PA 16505

Real Estate Market Report  ·  Erie County
Balanced Market
January 2026  ·  Source: Realtor.com

Market Overview

Active Listings
24
⇧ 14.3% vs 21 last year
Pending
9
38% pending ratio
Median Price
$265,000
⇩ 17.1% vs $319,625 last year
Average Price
$655,178
⇧ 51.7% vs $431,893 last year
Days on Market
73
⇩ 6.4% vs 78 days last year

Market Context

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

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

Market Analysis

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

The ERIE, PA real estate market (16505) currently shows 24 active listings, with 9 pending sales. Homes are averaging 73 days on the market before going under contract.

Inventory has increased compared to last year, with 3 more homes available — giving buyers more choice.

Homes are selling faster, averaging 73 days on market compared to 78 days last year.

The median listing price has fallen 17.1% year-over-year, from $319,625 to $265,000.

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 Trends

Inventory & Days on Market

Year over Year
  • Listings: 24 this year vs 21 last year
  • Days on market: 73 now vs 78 last year

Median & Average Pricing

Year over Year
  • Median: $265,000 (-17.1% YoY)
  • Average: $655,178 (+51.7% 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

Nearby Real Estate Markets

Median Price Legend:
< $250K
$250K–$500K
$500K–$1M
$1M–$2M
> $2M
25 Nearby Zip Code Markets within 21.9 miles — 205 listings ($68,686,221 combined market value)
Zip City / State Distance Listings Market Value Median $ Average $
16505Erie, PA 165050.0 mi24$15,724,272$265,000$655,178
16508Erie, PA 165083.0 mi34$6,991,318$149,950$205,627
16506Erie, PA 165063.7 mi37$13,750,680$325,000$371,640
16504Erie, PA 165044.9 mi42$6,423,480$153,000$152,940
16415Fairview, PA 164157.4 mi19$6,196,660$302,450$326,140
16426McKean, PA 164269.4 mi4$799,600$199,900$199,900
16421Harborcreek, PA 1642111.3 mi1$333,500$333,500$333,500
16417Girard, PA 1641713.3 mi8$1,909,496$227,500$238,687
16410Cranesville, PA 1641016.0 mi1$260,000$260,000$260,000
16428North East, PA 1642816.5 mi21$12,983,334$299,950$618,254
16411East Springfield, PA 1641118.5 mi2$850,000$425,000$425,000
16401Albion, PA 1640121.2 mi5$1,249,500$169,900$249,900
16438Union City, PA 1643821.9 mi7$1,214,381$124,500$173,483

Frequently Asked Questions

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

As of January 2026, there are 24 active listings in ERIE, PA (zip code 16505), compared to 21 the prior year.

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

The median listing price in ERIE, PA 16505 is $265,000 as of January 2026, a 17.1% decrease from $319,625 the prior year.

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

Homes in ERIE, PA 16505 spend an average of 73 days on the market before going under contract, compared to 78 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 January 2026, ERIE, PA 16505 is currently a Balanced Market. Inventory has increased compared to last year, with 3 more homes available — giving buyers more choice. Homes are selling faster, averaging 73 days on market compared to 78 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 $5,300 compared to a typical 5% commission on the median listing price of $265,000. 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.