Home ValuePros

Market Intelligence · PA / Erie

Erie, PA 16508 Housing Market

The typical home value in Erie, PA 16508 is $172,869, up 5.5% over the past year. The median list price is $189,900, and homes spend a median of 38 days on market.

Updated August 2026Median value$173K

The median home value in Erie, PA 16508 is $173K as of August 2026, up 5.5% 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.

Get a cash offer

Sell without the wait

Sell your Erie home for cash.

A competitive, no-obligation cash offer from our institutional network. No repairs, no showings, close on your timeline. Most sellers get their cash offer within 24 hours.

Typical 16508 range

$159K to $187K

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.

Track my home's value

Asset monitoring

Track your home's value.

A free monthly briefing with your estimated value and 16508 market stats. Unsubscribe anytime.

See how a cash offer works citywide: Sell your house fast in Erie, PA.

12-month value trend

+5.5% over 12 months

Typical home value in 16508 over the last 12 months: $164K in Aug 2025 to $173K in Aug 2026 (+5.5%).

Aug 2025$164K

Aug 2026$173K

The numbers

What is the 16508 housing market like?

Typical home value

$173K

Up5.5%YoY

Median list price

$190K

Up4.1%MoM

Days on market

38

Flat0.0%MoM

Homes for sale

24

Up20.0%MoM

Price cuts

17.9%

Down5.8%MoM

New listings

20

Up66.7%MoM

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

Free home value report

See what your 16508 home is worth.

See your estimated value and a real cash offer, side by side. No obligation, about a minute.

The comparison

How do 16508 home prices compare?

  • 16508$172,869
  • 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

As of 2026-08-01, there are 24 homes for sale in 16508, with 20 new listings added. The median list price is $189,900, and the median days on market is 38. The typical home value is $172,869, up 5.5% over the past year, so values have been rising even as sellers adjust expectations. About 17.9% of listings have taken a price cut, which suggests some homes are priced above what buyers will pay. For a seller, the takeaway is that demand is real, but pricing accurately from the start matters.

Monthly payment

Estimate your monthly payment.

20% · $34,574

Common questions

What people ask us.

Discover

Nearby ZIP markets.

Keep reading

Guides for sellers.