Buying and selling trends and tips for Erie.
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Buying and selling trends and tips for Erie.
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The Erie suburban market remains a strong and desirable segment. Western Pennsylvania has historically avoided the extreme highs and lows of larger real estate markets like New York or San Francisco. This stability is expected to continue.
The Greater Erie Board of REALTORS ® Q1 2025 statistical report indicates a decrease in real estate activity compared to Q1 2024, with new listings down 7.4 % to 605 and closed sales declining by 15 % to 435. Despite this, the average sales price increased by 2.7 % to $ 207,608, and the median sales price rose by 6.4 % to $ 175,000. The dollar volume of sales decreased by 11.8 % to $ 91 million.
Properties spent more time on the market, with Days on Market increasing by 27.3 % to 28 days, while the Months of Inventory decreased by 12.5 % to 2.3 months.
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