16509 Housing Market Report March 2025•Erie County, Pennsylvania

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Housing Prices in 16509, PA

How much do homes in 16509, PA cost?

Housing Market Conditions

Is 16509, PA 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

16509 is a Seller's Market

Difference Since March 2024

Since last year, 16509 has remained a Seller's Market.

Insight

16509 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.
$233,000$146/SqFt
+$5,075
+2.2%

Based on all homes sold in the last 12 months

Insight

Homes in 16509 have sold for 2.2% more than they did a year ago.

Summary: The median home sold price in 16509 was $233,000 in March 2025, up 2.2% from last year, and the median price per square foot was $146.

Median Sold Price By Zip Codes

Median Sold Price By Zip Codes
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
16506
+9.0%
16508
+6.9%
16504
+4.5%
16509
+2.2%

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.
BedsMar 2024Mar 2025Change YoY
1$89.5K-
N/A
2$188.5K$81.5K
-56.8%
3$210K$225K
+7.1%
4$260K$300K
+15.4%
5$325K$312.4K
-3.9%

Summary: 16509 housing price by bedroom type for March 2025, compared to the previous year. The home price for 1 bedroom homes did not change. The home price for 2 bedroom homes decreased by -56.8%. The home price for 3 bedroom homes increased by +7.1%. The home price for 4 bedroom homes increased by +15.4%. The home price for 5 bedroom homes decreased by -3.9%.

How does 16509, PA compare with other places?

Market comparison tool

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

16509, PA

Housing supply in 16509, PA

How many homes are available in 16509, 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
64Last MonthMar 2025
552 months agoFeb 2025
+16.4 %
Change MoMFeb – Mar

Summary: The 16509 real estate market had 64 homes for sale in Mar 2025, a 16.4 % 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
15Last MonthMar 2025
132 months agoFeb 2025
+15.4 %
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%
21516
+6.7%
31932
+68.4%
41815
-16.7%
531
-66.7%

Summary: 16509 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 increased by +6.7%. The inventory for 3 bedroom homes increased by +68.4%. The inventory for 4 bedroom homes decreased by -16.7%. The inventory for 5 bedroom homes decreased by -66.7%.

Asking Price vs. Sold Price

How much do homes in 16509, 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 Price5 Homes

At Asking Price2 Homes

Under Asking Price8 Homes

Insight

If you're buying a home in 16509, you may be able to get a good deal. 53.3% of homes here sold below asking price last month.

Summary: A total of 15 homes were sold or pending in 16509 in March 2025, up by 15.4% month-over-month. Of the 15 sold homes, 53% were sold under asking, 13% were sold at asking, and and 33% were sold over asking.

Days on Market for 16509, PA

How long does it take to sell a home in 16509, PA?

Breakdown of Home Sale Times

Under 30 Days7 Homes

30 – 90 Days4 Homes

Over 90 Days3 Homes

Insight

Many homes in 16509 are selling fast, if you're buying plan to act quickly.

Summary: During March 2025, 15 homes were sold in 16509; 47% of homes were sold within 30 days, 27% of homes were sold within 30 to 90 days, and 20% 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.
This Year1 year agoChange YoY
53 DaysThis YearMar 2025
34 Days1 year agoMar 2024
+54.6 %
Change YoYMar 2024 – Mar 2025

Summary: Homes in 16509 had an average listing age of 53 days in Mar 2025, up by 54.6% compared to the previous year.

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Newest Listings in 16509, PA

What homes are available in 16509, PA?

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Nearby markets aren't available for 16509, PA

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MLS Disclaimers and Copyright

Based on information from Erie MLS, for the period 04/01/2023 - 04/01/2025

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: 4/16/2025, 11:16:00 AM Eastern. If you have any questions regarding the accuracy of this data, please contact us at help@rockethomes.com.