Metropolitan Statistical Area (MSA):

Erie, PA

Erie, PA is a Metropolitan Statistical Area (MSA) comprising counties including .

Erie, PA Real Estate Trends: The Housing Market

There is no doubt that the Erie, PA metropolitan statistical area (MSA) has seen some tough times when it comes to the housing market. However, there are also some real estate trends emerging that suggest things may be starting to improve. One of the most encouraging trends is the increasing number of homes being sold. In fact, home sales in Erie County have increased for three consecutive years, and they are currently at their highest level since 2007. This is good news for both buyers and sellers, as it indicates that more people are interested in purchasing property in the area.

Another trend that is worth noting is the average sale price of homes in Erie County. While prices did dip during the recession, they have been slowly but steadily rising in recent years. In 2018, the average sale price was $116,000, which was up from $113,000 in 2017 and $110,000 in 2016. This trend is likely to continue as more people look to purchase property in Erie County.

Finally, another encouraging trend is the decrease in foreclosures. In fact, foreclosure filings have dropped by nearly 60% since 2013. This is good news for everyone involved in the housing market as it indicates that more people are able to keep their homes.

Overall, there are a number of positive trends emerging in the Erie County housing market. These trends suggest that things may finally be starting to improve after a long period of decline.

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