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ERIE, PA 16503

Real Estate Market Report  ·  Erie County
Buyer's Market
February 2026  ·  Source: Realtor.com

Market Analysis

Data as of February 2026. Source: Realtor.com.

The ERIE, PA real estate market (16503) currently shows 20 active listings, with 10 pending sales. Homes are averaging 50 days on the market before going under contract.

Inventory has increased compared to last year, with 7 more homes available — giving buyers more choice.

Homes are taking longer to sell, averaging 50 days on market compared to 28 days last year.

The median listing price has risen 24% year-over-year, from $96,200 to $119,250.

Whether you are buying or selling in ERIE, PA, SELL123.com can help you save significantly on commission — typically 2% compared to traditional 5% broker fees. Call (240) SELL-123 for a free consultation.

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Market Context

Market Context

Population: 16,065  ·  Density: 2,547.1/mi²  ·  Median household income: $29,240

Typical home value: $55,652  ·  Homeownership: 39.5%

Market Overview

Active Listings
20
⇧ 53.8% vs 13 last year
Pending
10
50% pending ratio
Median Price
$119,250
⇧ 24% vs $96,200 last year
Average Price
$118,652
⇩ 2.7% vs $121,885 last year
Days on Market
50
⇧ 78.6% vs 28 days last year

Price Per Square Foot

Median $/sqft
$66
⇧ 1.5% vs $65/sqft last year
Median Home Size
1,615 sqft
Typical listing size
12-Month $/sqft Trend

Market Trends

Inventory & Days on Market

Year over Year
  • Listings: 20 this year vs 13 last year
  • Days on market: 50 now vs 28 last year

Median & Average Pricing

Year over Year
  • Median: $119,250 (+24% YoY)
  • Average: $118,652 (-2.7% YoY)

12-Month Price Trend

Median & Average
  • Median and average listing prices over the past 12 months

12-Month Inventory Trend

Active & Pending
  • Active and pending listing counts over the past 12 months

Historical Trend Charts

Median Price
Average Price
Days on Market
Total Listings
Pending Listings
Active Listings
New Listings
Price Per Sqft
Price Reduced %

Nearby Real Estate Markets

Median Price Legend:
< $250K
$250K–$500K
$500K–$1M
$1M–$2M
> $2M
25 Nearby Zip Code Markets within 22.5 miles — 174 listings ($59,378,657 combined market value)
Zip City / State Distance Listings Market Value Median $ Average $
16503Erie, PA 165030.0 mi16$1,821,968$119,000$113,873
16507Erie, PA 165071.5 mi13$8,458,723$169,900$650,671
16508Erie, PA 165082.6 mi34$6,991,318$149,950$205,627
16505Erie, PA 165054.3 mi24$15,724,272$265,000$655,178
16510Erie, PA 165105.6 mi31$7,253,380$205,000$233,980
16421Harborcreek, PA 164217.1 mi1$333,500$333,500$333,500
16415Fairview, PA 1641510.9 mi19$6,196,660$302,450$326,140
16441Waterford, PA 1644112.5 mi15$5,874,540$259,900$391,636
14736Findley Lake, NY 1473616.1 mi6$2,835,000$477,500$472,500
16417Girard, PA 1641716.7 mi8$1,909,496$227,500$238,687
16410Cranesville, PA 1641019.0 mi1$260,000$260,000$260,000
14775Ripley, NY 1477520.1 mi4$869,800$217,450$217,450
16411East Springfield, PA 1641122.5 mi2$850,000$425,000$425,000

Frequently Asked Questions

How many homes are for sale in ERIE, PA 16503?

As of February 2026, there are 20 active listings in ERIE, PA (zip code 16503), compared to 13 the prior year.

What is the median home price in ERIE, PA 16503?

The median listing price in ERIE, PA 16503 is $119,250 as of February 2026, a 24% increase from $96,200 the prior year.

How long do homes stay on the market in ERIE, PA?

Homes in ERIE, PA 16503 spend an average of 50 days on the market before going under contract, compared to 28 days the prior year.

Is it a seller's or buyer's market in ERIE, PA 16503?

Based on current inventory and days-on-market data as of February 2026, ERIE, PA 16503 is currently a Buyer's Market. Inventory has increased compared to last year, with 7 more homes available — giving buyers more choice. Homes are taking longer to sell, averaging 50 days on market compared to 28 days last year.

How much can I save on real estate commission in ERIE, PA?

With SELL123.com's maximum 3% commission, sellers in ERIE, PA 16503 save an estimated $2,385 compared to a typical 5% commission on the median listing price of $119,250. Our fee structure: 1% listing + 2% selling broker — no additional buyer or seller fees. Call (240) SELL-123 or email info@SELL123.com for a free consultation.