New - 5 minutes on Rocket
$2,255 Closing Credit¹
Shantell D Wilson, Listing Office: Symphony Real Estate LLC
Buffalo Housing Market Report December 2024•Erie County, New York
Housing Prices in Buffalo, NY
How much do homes in Buffalo, NY cost?
Housing Market Conditions
Is Buffalo, NY a buyer’s or seller’s market?
Seller'sMarket
Buyer'sMarket
Buffalo is a Seller's Market
Difference Since December 2023
Since last year, Buffalo has remained a Seller's Market.
Insight
Buffalo is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Median Sold Price
$239,165$163/SqFt
+$12,258
+5.4%
Based on all homes sold in the last 12 months
Insight
Homes in Buffalo have sold for 5.4% more than they did a year ago.
Summary: The median home sold price in Buffalo was $239,165 in December 2024, up 5.4% from last year, and the median price per square foot was $163.
Median Sold Price By City
| City | Dec 2023 | Dec 2024 | Change YoY |
|---|---|---|---|
| West Seneca | $250.6K | $270K | +7.7% |
| Cheektowaga | $215.1K | $229.9K | +6.9% |
| Buffalo | $226.9K | $239.1K | +5.4% |
| Kenmore | $241K | $250K | +3.7% |
| Sloan | $174.9K | $174.9K | 0.0% |
Median Sold Price By Bedrooms
| Beds | Dec 2023 | Dec 2024 | Change YoY |
|---|---|---|---|
| 11 Bedroom | $162K | $182.2K | +12.5% |
| 22 Bedrooms | $199.5K | $207.4K | +4.0% |
| 33 Bedrooms | $230K | $240.5K | +4.6% |
| 44 Bedrooms | $250K | $255K | +2.0% |
| 55+ Bedrooms | $224.3K | $236.9K | +5.6% |
Summary: Buffalo housing price by bedroom type for December 2024, compared to the previous year. The home price for 1 bedroom homes increased by +12.5%. The home price for 2 bedroom homes increased by +4.0%. The home price for 3 bedroom homes increased by +4.6%. The home price for 4 bedroom homes increased by +2.0%. The home price for 5 bedroom homes increased by +5.6%.
Housing supply in Buffalo, NY
How many homes are available in Buffalo, NY?
Number of Homes For Sale
| Last Month | 2 months ago | Change MoM |
|---|---|---|
| 1,289Last MonthDec 2024 | ||
| 1,7982 months agoNov 2024 | -28.3 % Change MoMNov – Dec |
Summary: The Buffalo real estate market had 1,289 homes for sale in Dec 2024, a 28.3 % decrease compared to Nov 2024.
Number of Homes Sold
| Last Month | 2 months ago | Change MoM |
|---|---|---|
| 369Last MonthDec 2024 | ||
| 4342 months agoNov 2024 | -15.0 % Change MoMNov – Dec |
Homes For Sale By Bedroom Count
| Beds | Nov 2024 | Dec 2024 | Change MoM |
|---|---|---|---|
| 11 Bedroom | 24 | 25 | +4.2% |
| 22 Bedrooms | 206 | 145 | -29.6% |
| 33 Bedrooms | 665 | 469 | -29.5% |
| 44 Bedrooms | 500 | 358 | -28.4% |
| 55+ Bedrooms | 403 | 292 | -27.5% |
Summary: Buffalo housing inventory by bedroom type for December 2024, compared to the previous month. The inventory for 1 bedroom homes increased by +4.2%. The inventory for 2 bedroom homes decreased by -29.6%. The inventory for 3 bedroom homes decreased by -29.5%. The inventory for 4 bedroom homes decreased by -28.4%. The inventory for 5 bedroom homes decreased by -27.5%.
Asking Price vs. Sold Price
How much do homes in Buffalo, NY cost?
Over Asking Price240 Homes
At Asking Price26 Homes
Under Asking Price103 Homes
Insight
If you're buying a home in Buffalo, you could pay more than the asking price. 65% of homes here sold above asking price last month.
Summary: A total of 369 homes were sold or pending in Buffalo in December 2024, down by 15.0% month-over-month. Of the 369 sold homes, 28% were sold under asking, 7% were sold at asking, and and 65% were sold over asking.
Days on Market for Buffalo, NY
How long does it take to sell a home in Buffalo, NY?
Breakdown of Home Sale Times
Under 30 Days293 Homes
30 – 90 Days62 Homes
Over 90 Days14 Homes
Insight
Many homes in Buffalo are selling fast, if you're buying plan to act quickly.
Summary: During December 2024, 369 homes were sold in Buffalo; 79% of homes were sold within 30 days, 17% of homes were sold within 30 to 90 days, and 4% of homes were sold over 90 days.
Average Sale Time
| This Year | 1 year ago | Change YoY |
|---|---|---|
| 21 DaysThis YearDec 2024 | ||
| 20 Days1 year agoDec 2023 | +6.3 % Change YoYDec 2023 – Dec 2024 |
Summary: Homes in Buffalo had an average listing age of 21 days in Dec 2024, up by 6.3% compared to the previous year.
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Newest Listings in Buffalo, NY
What homes are available in Buffalo, NY?
New - 2 hours on Rocket3D tour
$2,493 Closing Credit¹
Ariel Willard, Listing Office: WNY Metro Roberts Realty
New - 2 hours on Rocket
$2,256 Closing Credit¹
Muhammad Ahsan, Listing Office: Howard Hanna WNY Inc.
New - 6 hours on Rocket
$1,722 Closing Credit¹
Dominic Lettieri, Listing Office: HUNT Real Estate Corporation
New - 8 hours on Rocket
$1,958 Closing Credit¹
Shannon L McNichol, Listing Office: Nichol City Realty
New - 9 hours on Rocket
$1,603 Closing Credit¹
Maya Haddad, Listing Office: WNY Metro Roberts Realty
New - 10 hours on Rocket
$2,969 Closing Credit¹
Deborah A Ruggieri, Listing Office: Century 21 North East
New - 11 hours on Rocket
$3,859 Closing Credit¹
Pattie A Smith, Listing Office: HUNT Real Estate Corporation
New - 11 hours on Rocket
$2,374 Closing Credit¹
Anthony Dubreville, Listing Office: Keller Williams Realty WNY
New - 12 hours on Rocket
$1,188 Closing Credit¹
Jay B Campbell, Listing Office: Howard Hanna WNY Inc
New - 13 hours on Rocket
$8,668 Closing Credit¹
Bari L Spokane, Listing Office: HUNT Real Estate Corporation
New - 14 hours on Rocket
$2,611 Closing Credit¹
Jessica Newland, Listing Office: WNY Metro Roberts Realty
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MLS Disclaimers and Copyright
Based on information from New York State Alliance of MLS, and OneKey MLS for the period 01/01/2023 - 01/01/2025
The data relating to real estate on this website comes in part from the Internet Data Exchange (IDX) Program of NYSAMLS’s. Real estate listings held by other firms are marked with theListing Broker’s Firm Name. Data provided is for consumers’ personal, non-commercial use and may not be used for any purpose other than to identify prospective properties that consumers may be interested in purchasing. All information deemed reliable but not guaranteed and should be independently verified. All properties are subject to prior sale, change or withdrawal. Neither the listing broker(s) nor this firm shall be responsible for any typographical errors, misinformation, misprints, and shall be held totally harmless.
© 2025 CNYIS, UNYREIS, WNYREIS. All rights reserved.
Data displayed may be a portion of, and not a complete set of all listings published in the MLS.
This advertisement does not suggest that the broker has a listing in this property or properties or that any property is currently available.
Last updated on: 1/17/2025, 10:20:54 PM Eastern. If you have any questions regarding the accuracy of this data, please contact us at help@rockethomes.com.
Listings courtesy of OneKey MLS as distributed by MLS GRID.All data is obtained from various sources and may not have been verified by broker or MLS GRID. Supplied Open House Information is subject to change without notice. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information.
The data relating to real estate for sale on this web site comes in part from the Broker Reciprocity Program of the OneKey™ MLS. Real Estate listings held by brokerage firms other than this broker are marked with the Broker Reciprocity logo and detailed information about them includes the name of the listing brokers. This information is provided exclusively for consumers’ personal, non-commercial use, that it may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. The source of the displayed data is either the property owner or public record provided by non-governmental third parties. It is believed to be reliable but not guaranteed.
Information Copyright 2025, OneKey™ MLS. All Rights Reserved.
Data displayed may be a portion of, and not a complete set of all listings published in the MLS.
This advertisement does not suggest that the broker has a listing in this property or properties or that any property is currently available.
Last updated on: 1/17/2025, 10:11:50 PM Eastern. If you have any questions regarding the accuracy of this data, please contact us at help@rockethomes.com.