Inventory Holds Steady While Buyer Activity Shifts in Erie’s Mid-July Market
Market Snapshot
This week in the Erie real estate market, we continue to see a seasonal pace with buyers exercising more discretion while inventory remains abundant. The average sales price held at $709,818, with homes spending an average of 38 days on market. Inventory remains steady with 268 active listings available for buyers.
To put that in context, active listings in July have grown considerably in recent years: from 87 in July 2020, to 212 in 2022, to 300 in 2025. This marks Erie’s highest July inventory level in the past six years and reflects improved conditions for buyers.
The current average sales price of $709,818 is slightly down from $744,570 in July 2024 and $826,189 in 2023, suggesting a market correction that brings long-term price appreciation back to sustainable levels.
Meanwhile, average days on market have risen modestly. In July 2020, homes averaged 27 days; in 2023, 33 days; and this July, 38 days—a sign of returning balance and deliberation in buyer behavior.
Weekly Activity Breakdown
In the past 7 days, Erie real estate saw the following activity:
- New Listings: 23
- Back on Market: 5
- Coming Soon: 2
- Active Listings: 268 (including new and refreshed listings)
- Price Reductions: 32
- Price Increases: 4
- Pending Listings: 29
- Sold Listings: 12
- Withdrawn Listings: 1
- Expired Listings: 4
The total number of active listings, not just new activity, is the key figure here—and at 268, buyers have significantly more options than in years past.
Trend Insights
Several trends emerged this week in Erie:
Price Reductions Continue
With 32 price reductions recorded, sellers are clearly responding to buyer feedback and market realities. This is in line with seasonal slowing and increased listing competition.
Solid Buyer Engagement
Even with a more selective buyer pool, 29 homes went under contract and 12 closed last week. This activity shows that well-positioned homes are still attracting offers.
Elevated Days on Market
An average of 38 days to sell points to a slightly longer decision-making process. Compared to just 33 days in July 2023, this confirms buyers are taking time but still acting.
Stable Listing Volume
With 23 new listings and 5 back on market, Erie continues to refresh its inventory. We’re already approaching 60% of last July’s total new listings just halfway through the month.
What It Means for Buyers and Sellers
For Buyers:
Erie is becoming more favorable for buyers. With 268 active listings and 23 new additions this week, you’ll find increased selection and negotiating potential. Price reductions are also creating room to strike fair deals.
For Sellers:
The market remains active, but sellers need to be strategic. With 32 price reductions this week alone, competitive pricing and professional presentation are more important than ever. Homes that are priced appropriately and marketed effectively continue to move, with 29 going pending just this week.
Final Thoughts
Erie’s real estate market is balancing out, offering opportunities for both cautious buyers and motivated sellers. As inventory rises and pricing becomes more negotiable, working with a local expert is crucial.
Reach out to John Grandt and the North Star Team at Compass for a personalized strategy based on real-time data and local insight.
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John Grandt
Real Estate Professional | Team Lead
North Star Team at Compass
[email protected]
720.351.8488
