Home Values

Erie 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

$78,000

  • 2.4% 1-year change
  • 1.5% 1-year forecast

The median home value in Erie is $78,000. Erie home values have gone up 2.4% over the past year and Zillow predicts they will rise 1.5% within the next year. The median list price per square foot in Erie is $60, which is lower than the Erie Metro average of $84. The median price of homes currently listed in Erie is $79,900 while the median price of homes that sold is $76,915.

Foreclosures will be a factor impacting home values in the next several years. In Erie 4.4 homes are foreclosed (per 10,000). This is greater than the national value of 4.2

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 4.8%, 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 homeowners underwater on their mortgage is 12.2%.

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Relative ZHVI
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Erie Market Overview

Data through Nov 30, 2014
  • $78,000 ZHVI
  • 1.5% 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
    (Nov 30, 2015)
  • $79,900 Median listing price
  • $76,915 Median sale price
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Erie Market Health

Data through Nov 30, 2014
  • 5.9/10 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.
  • No data Average days on Zillow
  • 12.2% Homes with negative equity (16.9% US Avg) (Sep 30, 2014)
  • 4.8% Delinquent on mortgage (6.4% US Avg) (Sep 30, 2014)

Homes foreclosed (per 10,000)

4.4 homes Erie
4.2 homes United States
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Nearby Cities

Name Median ZHVI
Fairview Township $185,000
Summit Township $173,400
Mckean Township $159,600
Name Median ZHVI
Millcreek Township $153,200
Greene Township $150,600
Northwest Harborcreek $146,900
Name Median ZHVI
Harborcreek $140,700
Lawrence Park $93,900
Wesleyville $79,700

Listings & Sales

Data through Nov 30, 2014
  • $60 Median list price / sq ft
  • $70 Median sale price / sq ft
  • No data Listings with price cut
13.1%
Sold below listing
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Erie Rentals

Data through Nov 30, 2014
  • Zillow Rent Index

  • $958 Erie
    $1,132 Erie Metro
    $1,342 United States

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

  • 1.2 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
  • $0.65 Rent list price / sq ft
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