Market Intelligence · PA / Erie

Erie, PA 16505 Housing Market

In Erie, PA 16505, the typical home value is $260,263, up 4.6% over the past year. The median list price is $299,450, and homes have a median days on market of 31. Inventory is limited, with 21 homes for sale and 24 new listings.

Updated August 2026Median value$260K

The median home value in Erie, PA 16505 is $260K as of August 2026, up 4.6% year over year, according to Zillow ZHVI. Get your own home's value and a real cash offer in about two minutes, with sources shown and no obligation.

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Typical 16505 range

$239K to $281K

This is an automated estimate, not an appraisal. Actual value is determined by current market conditions and professional evaluation. It is provided for informational purposes only and is not an offer to buy or a promise of value.

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12-month value trend

+4.6% over 12 months

Typical home value in 16505 over the last 12 months: $249K in Aug 2025 to $260K in Aug 2026 (+4.6%).

Aug 2025$249K

Aug 2026$260K

The numbers

What is the 16505 housing market like?

Typical home value

$260K

Up4.6%YoY

Median list price

$299K

Up10.4%MoM

Days on market

31

Up14.8%MoM

Homes for sale

21

Up16.7%MoM

Price cuts

11.1%

Down42.5%MoM

New listings

24

Up20.0%MoM

Sources · Zillow ZHVI (August 2026) / Realtor.com (August 2026) / FRED (September 2026)

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The comparison

How do 16505 home prices compare?

  • 16505$260,263
  • Erie$191,589
  • Pennsylvania$239,873
  • United States$288,625

Median Zillow home value (ZHVI), as of August 2026. Comparison levels are medians across every ZIP code with Zillow data (Erie: 10 ZIPs; Pennsylvania: 1,362 ZIPs; United States: 26,265 ZIPs).

Context

The market in Erie, PA 16505 is small but active, with 21 homes for sale and 24 new listings. The typical home value is $260,263, up 4.6% over the past year, while the median list price is $299,450. A median days on market of 31 suggests buyers are still moving when a home is priced close to the market. Price cuts are present but not widespread, with 11.1% of listings reduced. For a seller, the read is steady demand and little room for overpricing.

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