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ERIE, PA 16508

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

Market Analysis

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

The ERIE, PA real estate market (16508) currently shows 26 active listings, with 14 pending sales. Homes are averaging 56 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 56 days on market compared to 63 days last year.

The median listing price has fallen 6.5% year-over-year, from $175,000 to $163,650.

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: 14,801  ·  Density: 2,038.2/mi²  ·  Median household income: $53,197

Typical home value: $116,315  ·  Homeownership: 66.2%

Market Overview

Active Listings
26
⇧ 13% vs 23 last year
Pending
14
54% pending ratio
Median Price
$163,650
⇩ 6.5% vs $175,000 last year
Average Price
$189,016
⇩ 63.3% vs $515,422 last year
Days on Market
56
⇩ 11.1% vs 63 days last year

Price Per Square Foot

Median $/sqft
$124
⇧ 9.7% vs $113/sqft last year
Median Home Size
1,248 sqft
Typical listing size
12-Month $/sqft Trend

Market Trends

Inventory & Days on Market

Year over Year
  • Listings: 26 this year vs 23 last year
  • Days on market: 56 now vs 63 last year

Median & Average Pricing

Year over Year
  • Median: $163,650 (-6.5% YoY)
  • Average: $189,016 (-63.3% 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 21.9 miles — 211 listings ($74,179,467 combined market value)
Zip City / State Distance Listings Market Value Median $ Average $
16508Erie, PA 165080.0 mi30$6,288,000$148,050$209,600
16504Erie, PA 165042.4 mi35$5,846,155$154,175$167,033
16507Erie, PA 165072.7 mi12$8,509,596$202,450$709,133
16509Erie, PA 165093.6 mi27$12,389,949$327,450$458,887
16511Erie, PA 165116.8 mi15$3,601,980$232,675$240,132
16415Fairview, PA 164158.3 mi19$7,843,447$374,950$412,813
16421Harborcreek, PA 164219.5 mi2$639,200$319,600$319,600
16423Lake City, PA 1642313.9 mi5$1,662,500$332,500$332,500
16442Wattsburg, PA 1644214.2 mi3$480,000$160,000$160,000
16412Edinboro, PA 1641215.3 mi21$8,096,697$330,600$385,557
16438Union City, PA 1643819.0 mi9$1,561,347$134,750$173,483
16403Cambridge Springs, PA 1640321.5 mi10$2,594,370$150,000$259,437
14724Clymer, NY 1472421.9 mi23$14,666,226$314,700$637,662

Frequently Asked Questions

How many homes are for sale in ERIE, PA 16508?

As of March 2026, there are 26 active listings in ERIE, PA (zip code 16508), compared to 23 the prior year.

What is the median home price in ERIE, PA 16508?

The median listing price in ERIE, PA 16508 is $163,650 as of March 2026, a 6.5% decrease from $175,000 the prior year.

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

Homes in ERIE, PA 16508 spend an average of 56 days on the market before going under contract, compared to 63 days the prior year.

Is it a seller's or buyer's market in ERIE, PA 16508?

Based on current inventory and days-on-market data as of March 2026, ERIE, PA 16508 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 56 days on market compared to 63 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 16508 save an estimated $3,273 compared to a typical 5% commission on the median listing price of $163,650. 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.