16507 Housing Market Report January 2025•Erie County, Pennsylvania

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Housing Prices in 16507, PA

How much do homes in 16507, PA cost?

Median List Price

Median List Price
This is the middle price for which all homes in a given area are listed. Half of all the homes sold were below this price, and half were above.
$109,950$59/SqFt
+$30,050
+37.6%

Based on all homes listed in the last 12 months

Insight

The list price of homes in 16507 has increased by 37.6% since last year.

Summary: The median home list price in 16507 was $109,950 in January 2025, up 37.6% from the previous year, and the median price per square foot was $59.

Median List Price By City

Median List Price By City
This is the middle price for which all homes in the area were sold compared to surrounding cities. Half of all the homes sold were below this price, and half were above.
CityChange YoY
16507
+37.6%
16503
+27.3%
16502
+19.0%
16505
+9.1%

Median List Price By Bedrooms

Median List 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.
BedsJan 2024Jan 2025Change YoY
1-$395K
N/A
2$79.4K$120K
+51.0%
3$89.9K$107.4K
+19.5%
4$74.9K$97.4K
+30.1%
5$75K$115.2K
+53.6%

Summary: 16507 housing price by bedroom type for January 2025, compared to the previous year. The home price for 1 bedroom homes did not change. The home price for 2 bedroom homes increased by +51.0%. The home price for 3 bedroom homes increased by +19.5%. The home price for 4 bedroom homes increased by +30.1%. The home price for 5 bedroom homes increased by +53.6%.

Housing supply in 16507, PA

How many homes are available in 16507, PA?

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
15Last MonthJan 2025
112 months agoDec 2024
+36.4 %
Change MoMDec – Jan

Summary: The 16507 real estate market had 15 homes for sale in Jan 2025, a 36.4 % increase compared to Dec 2024.

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.
BedsDec 2024Jan 2025Change MoM
100
0.0%
212
+100.0%
343
-25.0%
436
+100.0%
534
+33.3%

Summary: 16507 housing inventory by bedroom type for January 2025, compared to the previous month. The inventory for 1 bedroom homes remained the same. The inventory for 2 bedroom homes increased by +100.0%. The inventory for 3 bedroom homes decreased by -25.0%. The inventory for 4 bedroom homes increased by +100.0%. The inventory for 5 bedroom homes increased by +33.3%.

Asking Price vs. Sold Price

How much do homes in 16507, PA 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 Price0 Home

Under Asking Price1 Home

Insight

If you're buying a home in 16507, you may be able to get a good deal. 100% of homes here sold below asking price last month.

Summary: A total of 1 homes were sold or pending in 16507 in January 2025, down by 80.0% month-over-month. Of the 1 sold homes, 100% were sold under asking, 0% were sold at asking, and and 0% were sold over asking.

Days on Market for 16507, PA

How long does it take to sell a home in 16507, PA?

Average Listing Age

Average Listing Age
This is the average number of days an active home has been on the market.
This Year1 year agoChange YoY
51 DaysThis YearJan 2025
66 Days1 year agoJan 2024
-22.4 %
Change YoYJan 2024 – Jan 2025

Summary: Homes in 16507 had an average listing age of 51 days in Jan 2025, down by 22.4% compared to the previous year.

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Newest Listings in 16507, PA

What homes are available in 16507, PA?

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Nearby markets

Nearby markets aren't available for 16507, PA

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MLS Disclaimers and Copyright

Based on information from Erie MLS, for the period 02/01/2023 - 02/01/2025

Copyright © 2025 Greater Erie Board of REALTORS®, Inc. Information deemed reliable but not guaranteed. IDX 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.
Data displayed may be a portion of, and not a complete set of all listings published in the MLS.
Last updated on: 2/3/2025, 7:15:59 PM Eastern. If you have any questions regarding the accuracy of this data, please contact us at help@rockethomes.com.