Buffalo, NY home prices and housing market

Buffalo sellers are still in the driver's seat this month, with homes going under contract in a median of just twenty-nine days. That kind of speed tells you demand is outpacing supply here. There are only about seven hundred twenty homes for sale across the city, and while roughly six hundred new listings came on this month, buyers are absorbing them almost as fast as they appear. The typical Buffalo home is now worth about two hundred sixty-seven thousand dollars, up nearly five percent over the past year, so values keep climbing even as affordability stays relatively reasonable. One detail worth watching: the median list price sits around two hundred forty-two thousand, below the typical home value, which suggests sellers are pricing to move rather than testing the market. And it is working. Fewer than one in ten listings has taken a price cut. If you are thinking about selling, this is a market that rewards a realistic price with a fast sale. Well-priced homes here do not sit, so the bigger risk is waiting, not listing.