Newly released data from Realtor.com for February shows that potential buyers and sellers in Erie County saw houses sell for lower than the previous month's median sales price of $162,000.
The median home sold for $155,000, an analysis of data from Realtor.com shows. That means February, the most recent month for which figures are available, was down 4.3% from January.
Compared to February 2023, the median home sales price was the same as $155,000.
Realtor.com sources sales data from real estate deeds, resulting in a few months' delay in up-to-date data. The statistics don't include homes currently listed for sale, and aren't directly comparable to listings data.
Information on your local housing market, along with other useful community data, is available at data.goerie.com.
Looking only at single-family homes, the $156,000 median selling price in Erie County was down 3.1% in February from $161,000 the month prior. Since February 2023, the sales price of single-family homes was up 0.7% from a median of $154,900.
No single-family homes sold for at least $1 million or more during the month.
Condominiums and townhomes decreased by 37% in sales price during February to a median of $106,500 from $169,000 in January. Compared to February 2023, the sales price of condominiums and townhomes was down 67.5% from $327,500. No condominiums or townhomes sold for at least $1 million or more during February.
In February, the number of recorded sales in Erie County rose by 25.4% since February 2023 from 130 to 163. All residential home sales totaled to $30.4 million.
In Pennsylvania, homes sold at a median of $239,968 during February, down 2.1% from $245,000 in January. There were 7,711 recorded sales across the state during February, up 1.6% from 7,592 recorded sales in February 2023.
The total value of recorded residential home sales in Pennsylvania decreased by 17.9% from $2.9 billion in January to $2.4 billion this February.
Out of all residential home sales in Pennsylvania, 2.9% of homes sold for at least $1 million in February, down from 3.75% in February 2023.
Sales prices of single-family homes across Pennsylvania decreased by 3.4% from a median of $250,000 in January to $241,382 in February. Since February 2023, the sales price of single-family homes across the state was up 9.7% from $220,000.
Across the state, the sales price of condominiums and townhomes rose 1.3% from a median of $231,972 in January to $235,000 during February. The median sales price of condominiums and townhomes is up 11.3% from the median of $211,125 in February 2023.
The median home sales price used in this report represents the midway point of all the houses or units listed over the given period of time. The median offers a more accurate view of what's happening in a market than the average sales price, which would mean taking the sum of all sales prices then dividing by the number of homes sold. The average can be skewed by one particularly low or high sale.
The USA TODAY Network is publishing localized versions of this story on its news sites across the country, generated with data from Realtor.com. Please leave any feedback or corrections for this story here. This story was written by Ozge Terzioglu.
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