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Westminster

ERIE, PA 16506

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

Market Overview

Active Listings
37
⇧ 23.3% vs 30 last year
Pending
21
57% pending ratio
Median Price
$325,000
⇩ 7.5% vs $351,200 last year
Average Price
$371,640
⇩ 12.4% vs $424,353 last year
Days on Market
37
⇩ 31.5% vs 54 days last year

Market Context

Population: 24,201  ·  Density: 688.1/mi²  ·  Median household income: $83,782

Typical home value: $216,319  ·  Homeownership: 71.8%

Market Analysis

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

The ERIE, PA real estate market (16506) currently shows 37 active listings, with 21 pending sales. Homes are averaging 37 days on the market before going under contract.

Inventory has increased compared to last year, with 7 more homes available — giving buyers more choice.

Homes are selling faster, averaging 37 days on market compared to 54 days last year.

The median listing price has fallen 7.5% year-over-year, from $351,200 to $325,000.

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: 37 this year vs 30 last year
  • Days on market: 37 now vs 54 last year

Median & Average Pricing

Year over Year
  • Median: $325,000 (-7.5% YoY)
  • Average: $371,640 (-12.4% 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 19.9 miles — 188 listings ($49,580,597 combined market value)
Zip City / State Distance Listings Market Value Median $ Average $
16506Erie, PA 165060.0 mi37$13,750,680$325,000$371,640
16508Erie, PA 165083.9 mi34$6,991,318$149,950$205,627
16415Fairview, PA 164154.4 mi19$6,196,660$302,450$326,140
16426McKean, PA 164265.8 mi4$799,600$199,900$199,900
16504Erie, PA 165046.3 mi42$6,423,480$153,000$152,940
16423Lake City, PA 1642310.1 mi4$1,093,332$325,000$273,333
16511Erie, PA 1651110.7 mi17$4,767,106$199,900$280,418
16441Waterford, PA 1644111.5 mi15$5,874,540$259,900$391,636
16410Cranesville, PA 1641012.6 mi1$260,000$260,000$260,000
16411East Springfield, PA 1641116.3 mi2$850,000$425,000$425,000
16401Albion, PA 1640118.1 mi5$1,249,500$169,900$249,900
16443West Springfield, PA 1644318.8 mi1$110,000$110,000$110,000
16438Union City, PA 1643819.9 mi7$1,214,381$124,500$173,483

Frequently Asked Questions

How many homes are for sale in ERIE, PA 16506?

As of January 2026, there are 37 active listings in ERIE, PA (zip code 16506), compared to 30 the prior year.

What is the median home price in ERIE, PA 16506?

The median listing price in ERIE, PA 16506 is $325,000 as of January 2026, a 7.5% decrease from $351,200 the prior year.

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

Homes in ERIE, PA 16506 spend an average of 37 days on the market before going under contract, compared to 54 days the prior year.

Is it a seller's or buyer's market in ERIE, PA 16506?

Based on current inventory and days-on-market data as of January 2026, ERIE, PA 16506 is currently a Balanced Market. Inventory has increased compared to last year, with 7 more homes available — giving buyers more choice. Homes are selling faster, averaging 37 days on market compared to 54 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 16506 save an estimated $6,500 compared to a typical 5% commission on the median listing price of $325,000. 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.