With high demand, Erie-area home prices rise 1.9% in May, 28.3% more than a year ago

Mike Stucka and Sean Lahman, Erie Times-News
·2 min read

A typical Erie County home listed for $198,700 in May, up 1.9% from a month earlier, an analysis of data from Realtor.com shows.

The median list home price in May was up about 28.3% from May 2021. Erie County's median home was 1,679 square feet for a listed price of $129 per square foot.

The Erie County market was busy, with a median 38 days on market. A month earlier, homes had a median 39 days on market. The market added 304 new home listings in May, compared with the 324 added in May 2021. The market ended the month with some 263 listings of homes for sale.

Information on your local housing market is available through the USA TODAY Network, with more data from Realtor.com.

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Crawford County's home prices rose 9.8%, to a median $155,950, from a month earlier. The typical house was on the market for 55 days, from 55 days a month earlier. The typical 1,605-square-foot house had a list price of $106 per square foot.

Across all of Pennsylvania, median home prices were $292,500, rising 3.4% from a month earlier. The median Pennsylvania home for sale had 1,728 square feet at list price of $173 per square foot.

A house for sale in metropolitan Detroit is shown. The median listing price in the country in May was $446,950, up $67,050 from a year earlier, Realtor.com said.
A house for sale in metropolitan Detroit is shown. The median listing price in the country in May was $446,950, up $67,050 from a year earlier, Realtor.com said.

Across the United States, median home prices were $446,950, up 5.2% from a month earlier. The median American home for sale had 1,861 square feet, listed at $226 per square foot.

The median home list price — the midway point of all the houses or units listed over a period of time — is used more often in this report instead of the average home list price because experts say the median offers a more accurate view of what's happening in a market. In finding the average price, all prices of homes listed are added and then divided by the number of homes sold. This measure can be skewed by one low or high price.

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The USA TODAY Network is publishing localized versions of this story on its news sites across the country, generated with data from the Realtor.com residential listings database. The story was written by Mike Stucka and Sean Lahman.

This article originally appeared on Erie Times-News: Erie-area homes for sale rise to $198,700 median price