It is the last quarter of the year and an excellent time to see how things are doing in Erie County home sales.  I spent some time in the MLS looking at the statistics for the years 2006, 2007 and Year to date 2008.  It is interesting to see what has happened over time and where we stand in each of these communities to keep up the pace of 2007.

Often the media talks about how terrible this market is.  But let us focus on the good news.  Homes are selling and those that are selling are selling in the range from 50-70 days.  So in this terrible market, why is that happening?  It is simple, these sellers understand the importance of pricing their home correctly and do so from the start.  Those that don’t are on the market for far longer and experiencing chasing the market down first hand.

City of Buffalo - Allentown

City of Buffalo - Lovejoy

Cheektowaga, New York

Clarence, NY

Grand Island New York

• 2006:  There was 206 closed single-family homes sold with an average closed price of $176,463 spending an average of 64 days on the market.
• 2007:  There were 218 closed single-family homes sold with an average closed price of $193,421 spending an average of 62 days on the market.
• YTD 2008:  There has been 157 closed sales with an average closed price of $187,740 and spending an average of 62 days on the market.

Lancaster, New York

Orchard Park, NY

• 2006:  There was 268 closed single-family homes sold with an average closed price of $241,446 spending an average of 59 days on the market.
• 2007: There were 266 closed single-family homes sold with an average closed price of $253,862 spending an average of 54 days on the market.
• YTD 2008:  There has been 194 closed sales with an average closed price of $248,090 and spending an average of 64 days on the market.

Snyder New York

• 2006: There was 405 closed single-family homes sold with an average closed price of $140,282 spending an average of 53 days on the market.
• 2007: There were 375 closed single-family homes sold with an average closed price of $138,853 spending an average of 49 days on the market.
• YTD 2008:  There has been 290 closed sales with an average closed price of $140,815 and spending an average of 50 days on the market.

Thinking of selling your Erie county home? Interested in finding out the current market value of your single family home, condo or investment property? Then call Colleen Kulikowski at (716) 743-5297 to discuss what is happening in today’s Western New York Real Estate Market. We would be happy to give you a personalized Comparative Market Analysis for your home, just fill out the form below.   View additional WNY Market Area Statistics here.

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