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ERIE, PA 16507

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

Market Overview

Active Listings
13
⇧ 62.5% vs 8 last year
Pending
7
54% pending ratio
Median Price
$169,900
⇩ 7.4% vs $183,500 last year
Average Price
$650,671
⇧ 76.8% vs $367,980 last year
Days on Market
57
⇩ 25% vs 76 days last year

Market Context

Population: 8,996  ·  Density: 1,660.9/mi²  ·  Median household income: $34,016

Typical home value: $66,646  ·  Homeownership: 34.7%

Market Analysis

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

The ERIE, PA real estate market (16507) currently shows 13 active listings, with 7 pending sales. Homes are averaging 57 days on the market before going under contract.

Inventory has increased compared to last year, with 5 more homes available — giving buyers more choice.

Homes are selling faster, averaging 57 days on market compared to 76 days last year.

The median listing price has fallen 7.4% year-over-year, from $183,500 to $169,900.

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: 13 this year vs 8 last year
  • Days on market: 57 now vs 76 last year

Median & Average Pricing

Year over Year
  • Median: $169,900 (-7.4% YoY)
  • Average: $650,671 (+76.8% 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 22.2 miles — 193 listings ($59,614,098 combined market value)
Zip City / State Distance Listings Market Value Median $ Average $
16507Erie, PA 165070.0 mi13$8,458,723$169,900$650,671
16502Erie, PA 165021.9 mi28$3,846,304$132,450$137,368
16504Erie, PA 165042.7 mi42$6,423,480$153,000$152,940
16511Erie, PA 165115.1 mi17$4,767,106$199,900$280,418
16506Erie, PA 165066.0 mi37$13,750,680$325,000$371,640
16421Harborcreek, PA 164218.2 mi1$333,500$333,500$333,500
16426McKean, PA 1642611.0 mi4$799,600$199,900$199,900
16441Waterford, PA 1644113.5 mi15$5,874,540$259,900$391,636
16423Lake City, PA 1642315.4 mi4$1,093,332$325,000$273,333
14736Findley Lake, NY 1473617.5 mi6$2,835,000$477,500$472,500
16410Cranesville, PA 1641018.6 mi1$260,000$260,000$260,000
14775Ripley, NY 1477521.1 mi4$869,800$217,450$217,450
14724Clymer, NY 1472422.2 mi21$10,302,033$279,999$490,573

Frequently Asked Questions

How many homes are for sale in ERIE, PA 16507?

As of January 2026, there are 13 active listings in ERIE, PA (zip code 16507), compared to 8 the prior year.

What is the median home price in ERIE, PA 16507?

The median listing price in ERIE, PA 16507 is $169,900 as of January 2026, a 7.4% decrease from $183,500 the prior year.

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

Homes in ERIE, PA 16507 spend an average of 57 days on the market before going under contract, compared to 76 days the prior year.

Is it a seller's or buyer's market in ERIE, PA 16507?

Based on current inventory and days-on-market data as of January 2026, ERIE, PA 16507 is currently a Balanced Market. Inventory has increased compared to last year, with 5 more homes available — giving buyers more choice. Homes are selling faster, averaging 57 days on market compared to 76 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 16507 save an estimated $3,398 compared to a typical 5% commission on the median listing price of $169,900. 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.