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Local News

Exploring Erie’s Housing Market in March 2022

Credit: iStock

Housing market predictions for 2022 state that the number of homes available will be scarce but price appreciation will be slower than it was in 2021. Although spring and summer of 2022 are expected to see increases in listings, it is unlikely that these listings will be able to meet the high demand for homes.

Mortgage rates are at an all-time low and have created a home buying frenzy, with homes being sold within hours of being listed, and for well over the asking price.

According to Realtor.com, Erie, Pennsylvania currently has 543 homes for sale, among which there are affordable multi-families, and affordable townhomes. They range from $2.5K to $1.7M. The median listing and sold home price is $129,900.

Among the properties, 35 homes were newly listed within the last week. Additionally, there are 97 rentals, with a range of $467 to $2K per month.