Erie Monthly Market Update – Single Family Homes

Town of Erie Single Family Homes (Detached)

Information provided by IRES and Metrolist Information Services.

(Rolling 12-Month Comparison)

ERIE SINGLE FAMILY HOMES 2017 YTD 2018 % Change
Total Units Sold 425 178
Average Sales Price $508,303 $530,430 +4.35%
Median Sales Price $480,000 $496,950 +3.5%
Average Days to Contract 33 36 +9%

 

(Single Family Homes – % Under Contract)

SINGLE FAMILY HOMES May 17’ Jun 17’ Jul 17’ Aug 17’ Sep 17’ Oct 17’ Nov 17’ Dec 17’ Jan 18’ Feb 18’ Mar 18’ Apr 18’ May 18’
UNDER $500K               73% 83% 73% 55% 74% 61%
$500-$750K               35% 33% 43% 48% 52% 40%
$750K – $1MM               33% 40% 50% 50% 33% 60%
$1MM +               37% 29% 33% 30% 33% 18%
OVERALL               49% 51% 53% 49% 54% 45%

 

(Single Family Homes – Inventory)

SINGLE FAMILY HOMES May 17’ Jun 17’ Jul 17’ Aug 17’ Sep 17’ Oct 17’ Nov 17’ Dec 17’ Jan 18’ Feb 18’ Mar 18’ Apr 18’ May 18’
ERIE 167 164 154 151 152 136 112 84 84 88 107 131 136

 

(Single Family Homes – # Sold)

SINGLE FAMILY HOMES May 17’ Jun 17’ Jul 17’ Aug 17’ Sep 17’ Oct 17’ Nov 17’ Dec 17’ Jan 18’ Feb 18’ Mar 18’ Apr 18’ May 18’
ERIE 43 48 33 31 32 30 39 37 23 20 35 25 61

 

(Single Family Homes – Absorption Rate in Months) Based off 6-month sales average

SINGLE FAMILY HOMES May 17’ Jun 17’ Jul 17’ Aug 17’ Sep 17’ Oct 17’ Nov 17’ Dec 17’ Jan 18’ Feb 18’ Mar 18’ Apr 18’ May 18’
ERIE               2.49 2.63 2.92 3.48 3.93 4.05