Erie County home prices fell 0.9% in November, with houses listed at a median of $225,000
The median home in Erie County listed for $225,000 in November, down 0.9% from the previous month's $227,000, an analysis of data from Realtor.com shows.
Compared to November 2022, the median home list price increased 12.6% from $199,900.
The statistics in this article only pertain to houses listed for sale in Erie County, not houses that were sold. Information on your local housing market, along with other useful community data, is available at data.goerie.com.
Erie County's median home was 1,695 square feet, listed at $131 per square foot. The price per square foot of homes for sale is up 2.5% from November 2022.
Listings in Erie County moved briskly, at a median 42 days listed compared to the November national median of 52 days on the market. In the previous month, homes had a median of 43 days on the market. Around 140 homes were newly listed on the market in November, a 9.4% increase from 128 new listings in November 2022.
The median home prices issued by Realtor.com may exclude many, or even most, of a market's homes. The price and volume represent only single-family homes, condominiums or townhomes. They include existing homes, but exclude most new construction as well as pending and contingent sales.
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Median prices at the state level
In Pennsylvania, median home prices were $289,514, a slight decrease from October. The median Pennsylvania home listed for sale had 1,682 square feet, with a price of $176 per square foot.
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Median prices at the national level
Throughout the United States, the median home price was $420,000, a slight decrease from the month prior. The median American home for sale was listed at 1,858 square feet, with a price of $221 per square foot.
The median home list price used in this report represents the midway point of all the houses or units listed over the given period of time. Experts say the median offers a more accurate view of what's happening in a market than the average list price, which would mean taking the sum of all listing prices then dividing by the number of homes sold. The average can be skewed by one particularly low or high price.
This article originally appeared on Erie Times-News: Erie County, PA, median home prices fell 0.9% in November to $225,000
