Erie Housing Market Report March 2025•Monroe County, Michigan

hero building illustration for mobile

Housing Prices in Erie, MI

How much do homes in Erie, MI cost?

Housing Market Conditions

Is Erie, MI a buyer’s or seller’s market?

Housing Market Conditions

This is the supply and demand for houses in an area based on home prices and trends.

Buyer’s Market

A buyer’s market occurs when the number of available properties for sale exceeds the number of buyers looking to purchase. In a buyer’s market, the supply exceeds the demand.

Neutral Market

A neutral market occurs when the number of buyers looking to purchase properties meets the number of available properties for sale. In a balanced market, there are enough homes to meet the demand.

Seller’s Market

A seller’s market occurs when there are more buyers looking to purchase properties than there are available homes on the market. In a seller’s market, the demand exceeds the supply.

Seller'sMarket

Buyer'sMarket

Erie is a Seller's Market

Difference Since February 2025

Last month, Erie was a Neutral Market.

Insight

Erie is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.

Median Sold Price

Median Sold Price
This is the middle price for which all homes in the area were sold. Half of all the homes sold were below this price, and half were above.
$292,450$149/SqFt
-$162,500
-35.7%

Based on all homes sold in March 2025

Insight

Homes in Erie have sold for 35.7% less than they did a month ago.

Summary: The median home sold price in Erie was $292,450 in March 2025, down 35.7% from last month, and the median price per square foot was $149.

Median Sold Price By Bedrooms

Median Sold Price By Bedrooms
This is the middle price for all homes actively listed in an area broken out by the number of bedrooms. Half of the homes are listed below this price, and half are above.
BedsFeb 2025Mar 2025Change MoM
1--
N/A
2--
N/A
3$454.9K$220K
-51.6%
4-$370K
N/A
5--
N/A

Summary: Erie housing price by bedroom type for March 2025, compared to the previous month. The home price for 1 bedroom homes did not change. The home price for 2 bedroom homes did not change. The home price for 3 bedroom homes decreased by -51.6%. The home price for 4 bedroom homes did not change. The home price for 5 bedroom homes did not change.

How does Erie, MI compare with other places?

Market comparison tool

Data and numbers shown are subject to change and may vary based on different timeframes.

Erie, MI

Housing supply in Erie, MI

How many homes are available in Erie, MI?

Number of Homes For Sale

Number of Homes For Sale
This is the total number of homes actively listed in an area.
Last Month2 months agoChange MoM
18Last MonthMar 2025
142 months agoFeb 2025
+28.6 %
Change MoMFeb – Mar

Summary: The Erie real estate market had 18 homes for sale in Mar 2025, a 28.6 % increase compared to Feb 2025.

Number of Homes Sold

Number of Homes Sold
This is the total number of both homes sold and pending in an area.
Last Month2 months agoChange MoM
6Last MonthMar 2025
22 months agoFeb 2025
+200.0 %
Change MoMFeb – Mar

Homes For Sale By Bedroom Count

Homes For Sale By Bedroom Count
This is the total number of homes actively listed in an area by number of bedrooms.
BedsFeb 2025Mar 2025Change MoM
100
0.0%
200
0.0%
3810
+25.0%
467
+16.7%
501
+100.0%

Summary: Erie housing inventory by bedroom type for March 2025, compared to the previous month. The inventory for 1 bedroom homes remained the same. The inventory for 2 bedroom homes remained the same. The inventory for 3 bedroom homes increased by +25.0%. The inventory for 4 bedroom homes increased by +16.7%. The inventory for 5 bedroom homes increased by +100.0%.

Asking Price vs. Sold Price

How much do homes in Erie, MI cost?

Asking Price vs. Sold Price

The asking price is how much a home is listed for. The selling price is how much the home actually sold for.

Under Asking

Homes that sold for less than the asking price

At Asking

Homes that sold at their asking price

Over Asking

Homes that sold above the asking price

Over Asking Price0 Home

At Asking Price2 Homes

Under Asking Price4 Homes

Insight

If you're buying a home in Erie, you may be able to get a good deal. 66.7% of homes here sold below asking price last month.

Summary: A total of 6 homes were sold or pending in Erie in March 2025, up by 200.0% month-over-month. Of the 6 sold homes, 67% were sold under asking, 33% were sold at asking, and and 0% were sold over asking.

Days on Market for Erie, MI

How long does it take to sell a home in Erie, MI?

Breakdown of Home Sale Times

Under 30 Days2 Homes

30 – 90 Days4 Homes

Over 90 Days0 Home

Insight

Avg time on Rocket Homes in Erie has remained consistent over time.

Summary: During March 2025, 6 homes were sold in Erie; 33% of homes were sold within 30 days, 67% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.

Average Sale Time

Average Sale Time
This is the average number of days homes take to sell in an area.
Last Month1 month agoChange MoM
44 DaysLast MonthMar 2025
8 Days1 month agoFeb 2025
+419.6 %
Change MoMFeb – Mar

Summary: Homes in Erie had an average listing age of 44 days in Mar 2025, up by 419.6% compared to the previous month.

Connect With An Agent

Local real estate agents are ready to help you find a home here

Sell My Home

Sell your home with an expert or get the job done on your own.

Get Approved

Get a customizable mortgage solution based on today's rates.

Newest Listings in Erie, MI

What homes are available in Erie, MI?

See More Listings

Nearby markets

Popular Cities with Homes for Sale in Michigan

MLS Disclaimers and Copyright

Based on information from RealComp II Ltd., for the period 02/01/2025 - 04/01/2025

IDXDisclaimer: The data relating to real estate on this web site comes in part from the IDX of Realcomp II Ltd. The accuracy of all information, regardless of source, is not guaranteed or warranted. All information should be independently verified.

IDX information is provided exclusively for consumers personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Any use of search facilities of data on the site, other than by a consumer looking to purchase real estate, is prohibited.

IDX provided courtesy of Realcomp II Ltd. Copyright © 2025 Realcomp II Ltd. Shareholders. All rights reserved. Originating MLS shown with each listing detail.
Data displayed may be a portion of, and not a complete set of all listings published in the MLS.
Last updated on: 4/29/2025, 12:55:52 AM Eastern. If you have any questions regarding the accuracy of this data, please contact us at help@rockethomes.com.