Home Values

Erie County Home Prices & Values

Zillow Home Value Index

The Zillow Home Value Index is the median Zestimate valuation for a given geographic area on a given day. Learn more

$115,500

  • 3.7% 1-year change
  • 2.6% 1-year forecast

The median home value in Erie County is $115,500. Erie County home values have gone up 3.7% over the past year and Zillow predicts they will rise 2.6% within the next year. The median list price per square foot in Erie County is $84, which is the same as the Erie Metro average of $84. The median price of homes currently listed in Erie County is $122,900 while the median price of homes that sold is $127,625.

Foreclosures will be a factor impacting home values in the next several years. In Erie County 1.9 homes are foreclosed (per 10,000). This is lower than the national value of 4.0

Mortgage delinquency is the first step in the foreclosure process. This is when a homeowner fails to make a mortgage payment. The percent of delinquent mortgages in Erie County is 4.0%, which is lower than the national value of 6.4%. With U.S. home values having fallen by more than 20% nationally from their peak in 2007 until their trough in late 2011, many homeowners are now underwater on their mortgages, meaning they owe more than their home is worth. The percent of Erie County homeowners underwater on their mortgage is 8.0%.

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Relative ZHVI
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Erie County Market Overview

Data through Dec 31, 2014
  • $115,500 ZHVI
  • 2.6% 1-yr forecast
    The Zillow Home Value Forecast is Zillow's prediction of what the Zillow Home Value Index will be one year from now. Learn more
    (Dec 31, 2015)
  • $122,900 Median listing price
  • $127,625 Median sale price
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Erie County Market Health

Data through Dec 31, 2014
  • 7.2/10 Healthy
    The Market Health Index illustrates the current health of a region's housing market relative to other markets across the country. The Market Health Index is based on up to 10 metrics including those capturing the past and projected evolution of home values, the prevalence of foreclosures, foreclosure re-sales, negative equity and delinquency, as well as whether homes are currently selling faster or slower than in the past.
  • 110 Average days on Zillow (Nov 30, 2014)
  • 8.0% Homes with negative equity (16.9% US Avg) (Sep 30, 2014)
  • 4.0% Delinquent on mortgage (6.4% US Avg) (Sep 30, 2014)

Homes foreclosed (per 10,000)

1.9 homes Erie County
4 homes United States
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Cities in Erie County

Name Median ZHVI
Summit Township $173,100
Washington Township $166,100
Mckean Township $159,800
Name Median ZHVI
Millcreek Township $152,300
Greene Township $150,000
Edinboro $135,900
Name Median ZHVI
Waterford Township $135,000
Wesleyville $79,900
Erie $77,600

Listings & Sales

Data through Dec 31, 2014
  • $84 Median list price / sq ft
  • $88 Median sale price / sq ft
  • 14.2% Listings with price cut
12.0%
Sold below listing
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Erie County Rentals

Data through Dec 31, 2014
  • Zillow Rent Index

  • $1,161 Erie County
    $1,161 Erie Metro
    $1,345 United States

    The Zillow Rent Index is the median Rent Zestimate valuation for a given geographic area on a given day. Learn more

  • 1.9 Breakeven horizon
    The breakeven horizon is the number of years after which buying is more financially advantageous than renting. Learn more
    (Jun 30, 2014)
  • No data Rent list price
  • $0.71 Rent list price / sq ft
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