Newly released data for December shows that potential buyers and sellers in Erie County saw houses sell for less than the previous month's median sale price of $175,000.
The median home sold for $164,750, an analysis of data from Realtor.com shows. That means December, the most recent month for which figures are available, was down 5.9% from November.
Compared to December 2022, the median home sale price was down 4.2% at $164,750 compared to $172,000.
Realtor.com sources sales data from real estate deeds, resulting in a few months' delay in up-to-date data. The statistics don't include homes currently listed for sale, and aren't directly comparable to listings data.
Information on your local housing market, along with other useful community data, is available at data.goerie.com.
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Looking only at single-family homes, the $160,000 median selling price in Erie County was down 7% in December from $172,050 the month prior. Since December 2022, the sale price of single-family homes was the same as the median of $160,000.
Four single-family homes sold for $1 million or more during the month, compared to two recorded transactions of at least $1 million in December 2022.
Condominiums and townhomes decreased by 22.6% in sales price during December to a median of $240,000 from $310,000 in November. Compared to December 2022, the sales price of condominiums and townhomes was down 27.8% from $332,450. One condominium or townhouse sold for $1 million or more during the month, compared to one recorded transaction of at least $1 million in December 2022.
In December, the number of recorded sales in Erie County dropped by 15.4% since December 2022 from 227 to 192. All residential home sales totaled to $48.1 million.
In Pennsylvania, homes sold at a median of $249,020 during December, down 0.4% from $250,000 in November. There were 9,782 recorded sales across the state during December, down 14.6% from 11,447 recorded sales in December 2022.
The total value of recorded residential home sales in Pennsylvania decreased by 14% from $3.7 billion in November to $3.2 billion this December.
Out of all residential home sales in Pennsylvania, 2.45% of homes sold for at least $1 million in December, down from 2.86% in December 2022.
Sales prices of single-family homes across Pennsylvania increased by 0.4% from a median of $252,032 in November to $253,155 in December. Since December 2022, the sale price of single-family homes across the state was up 8.2% from $233,925.
Across the state, the sale price of condominiums and townhomes dropped 7.1% from a median of $249,971 in November to $232,266 during December. The median sale price of condominiums and townhomes is up 1% from the median of $229,955 in December 2022.
The median home sale price used in this report represents the midway point of all the houses or units listed over the given period of time. The median offers a more accurate view of what's happening in a market than the average sale price, which would mean taking the sum of all sale prices then dividing by the number of homes sold. The average can be skewed by one particularly low or high sale.
The USA TODAY Network is publishing localized versions of this story on its news sites across the country, generated with data from Realtor.com. Please leave any feedback or corrections for this story here. This story was written by Ozge Terzioglu.
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