Welcome to the WNY Real Estate Market Report!

Buffalo City Hall

With data provided by the Western New York Real Estate Information Services (WNYREIS), this report will give you an overview of the current months market trends/statistics as well as some historical data.

Western New York (WNY) is made up of 17 counties & the Buffalo/Niagara region is comprised of the eight western most counties in WNY: Allegany, Cattaraugus, Chautauqua, Erie, Genesee, Niagara, Orleans, Wyoming

When people talk about WNY, especially those from the area, they’re speaking about Erie & Niagara counties. This is where The Capozzi Team lives, works and plays. We look forward to making it your home too!

All of the numbers reported in this WNY Real Estate Market Report are averages pertaining to the listing and sale of single family homes in Erie & Niagara counties, unless otherwise noted.Niagara Falls - Homes For Sale in Niagara County

Are you not seeing data that reflects property you own? Contact The Capozzi Team for a personalized report!

You can also do a home search and save your favorite properties. Set up a search and be alerted as soon as a matching property hits our database. Let us help you find your dream home!

This Month in Real Estate

This Month in Real Estate - July 2018

What is the Average Sale Price in WNY?

With the sale of 8026 single family homes, 2017 closed with an average sale price of $179,944 in Erie County. Niagara County had an average sale price of $133,311 at the close of 2017 with 2146 units sold. Both counties increased their average sale price by approximately 9% from the end of 2016 to 2017.

Primary YearErie County Sale Price, AvgNiagara County Sale Price, Avg
2013$161,319$124,409
2014$161,537$121,284
2015$164,358$124,002
2016$170,471$124,449
2017$179,944$133,311

Per WNYREIS data as of 8/23/18, July 2018 had 771 single family home sales with an average price of $205,385 & 47 condo/townhouse sales averaging $211,165 in Erie County. The Niagara region had 185 single family homes sales averaging $160,155 per closing & 6 condo/townhouse closings at $151,417.

Existing Homes Sales for July 2018

Property TypeErie County Sales, # OfNiagara County Sales, # Of
Single Family Home771185
Condo/Townhouse476
Multi-Family (2-4 Units)11518
5+ Unit Apartments02

Average Days on Market for WNY Listings

AVG Days on Market in Erie/Niagara Counties 2013-2017 [WNY County Real Estate Market]

The average days spent on the market for an Erie County listing was 36 days at the end of 2017. Homes listed in Niagara County spent slightly more time on the market at 46 days. Both counties saw a significant decrease in average days on market from 2016 to 2017.

Homes featured by The Capozzi Team averaged just 30 days on the market in 2017! If you’re looking to sell fast, get your personalized home value report from us. With our marketing plan and pricing your home right, you too can sell in about 30 days!

Average List to Sale Price

At the end of 2017, the average list to sale price ratio for single family homes was 99.2% (Erie) and 98% (Niagara) indicating a strong seller’s market.

Close to List Price Ratio - Erie and Niagara 2013-2017 [WNY County Real Estate Market]

With low inventory levels and an abundance of buyers properties will most likely sell in multiple offer situations and above asking price. Therefore, the sale price to list price ratio will continue to grow.

Real Estate Statistics

National real estate statistics are gathered from the July 2018 National Association of REALTORS® (NAR) Confidence Report. This data is collected through surveys sent to 50,000 real estate agents and brokers. They report on their expectations for home sales, prices and market conditions.

WNY County Real Estate Market - Buyer Seller Traffic Index

Highlights

  • First-time buyers accounted for 32% of sales.
  • Properties spent approximately 27 days on the market.
  • Biggest challenge in today’s market: low inventory & interest rates.
  • Seventy-two percent of contracts settled on time.

Erie County Just Listed Homes for Sale

Below are homes for sale in Erie County priced at the average sale price of 2017. All homes listed are within $10k above or below the average sale price of $179,944.

Niagara County Just Listed Homes for Sale

Below are homes for sale in Niagara County priced at the average sale price of 2017. All homes listed are within $10k above or below the average sale price of $133,311.

Erie County Market Reports from 2018

January 2018February 2018March 2018
April 2018

Niagara County Market Reports from 2018

January 2018February 2018March 2018
April 2018