Erie Home Prices & Values

$78,000 Zillow Home Value Index What's This?  
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The Zillow Home Value Index is the median Zestimate valuation for a given geographic area on a given day. Learn more

  • 3.4% 1-year change
  • 3.6% 1-year forecast

The median home value in Erie is $78,000. Erie home values have gone up 3.4% over the past year and Zillow predicts they will rise 3.6% within the next year. The median list price per square foot in Erie is $63, which is lower than the Erie Metro average of $86. The median price of homes currently listed in Erie is $83,900 while the median price of homes that sold is $79,675.

Foreclosures will be a factor impacting home values in the next several years. In Erie 2.5 homes are foreclosed (per 10,000). This is lower than the national value of 4.3

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 is 4.7%, which is lower than the national value of 6.9%. 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 homeowners underwater on their mortgage is 10.6%.

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Relative ZHVI
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Erie Market Overview

Data through Aug 31, 2014
  • $78,000 ZHVI
  • 3.6% 1-yr forecast What's This?  
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    The Zillow Home Value Forecast is Zillow's prediction of what the Zillow Home Value Index will be one year from now. Learn more

    (Aug 31, 2015)
  • $83,900 Median listing price
  • $79,675 Median sale price
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Erie Market Health

Data through Aug 31, 2014
  • 5.8/10 Healthy What's This?  
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    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.

  • No data Average days on Zillow
  • 10.6% Homes with negative equity (17.0% US Avg) (Jun 30, 2014)
  • 4.7% Delinquent on mortgage (6.9% US Avg) (Jun 30, 2014)

Homes foreclosed (per 10,000)

2.5 homes Erie
4.3 homes United States
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Nearby Cities

Name Median ZHVI Name Median ZHVI Name Median ZHVI
Fairview Township $183,600 Summit Township $175,200 Mckean Township $161,200
Millcreek Township $153,800 Greene Township $150,600 Northwest Harborcreek $148,700
Harborcreek $136,900 Lawrence Park $92,700 Wesleyville $77,500

Listings & Sales

Data through Aug 31, 2014
  • $63 Median list price / sq ft
  • $65 Median sale price / sq ft
  • 49.0% Listings with price cut
16.4%
Sold below listing
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Erie Rentals

Data through Aug 31, 2014
Zillow Rent Index What's This?
Close The Zillow Rent Index is the median Rent Zestimate valuation for a given geographic area on a given day. Learn more
$937 Erie
$1,006 Erie Metro
$1,328 United States
  • 1.2 Breakeven horizon What's This?  
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    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
  • No data Rent list price / sq ft
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