Buffalo Real Estate Market Overview
Average Monthly Rent:
$1,064
Percentage Change in Home Price/Value:
9.90%
Median Home Value:
$104,871
Best Time To Sell Home:
March
Affordability Index:
High
Days To Sell House:
88.17
Job Market:
Weak
Public School Ranking:
24
Selling a House in Buffalo
In Buffalo, July is the leading month of the year in terms of home sales. The average number of days to sell a house is 93.88, and the median home value is $104,871. If you want to sell your house quicker, then consider looking into an iBuyer. iBuyer can provide their users with an automatic offer for their home, at a fairly priced value. With an iBuyer, the closing is more efficient than most selling options. Within just a month, your home could be sold.
Location and Weather
Buffalo is in Erie County of western New York. It’s located where the eastern end of Lake Erie narrows into the Niagara River, and is New York’s second largest city. Only 20 miles south of Niagara Falls, Buffalo attractions include the Frank Lloyd Wright’s Martin House, the Buffalo and Erie County Naval/Military Park, the Canalside, and the Buffalo City Hall. Buffalo is also home to the Pierce-Arrow Museum, the Theodore Roosevelt Inaugural National Historic Site, the Albright-Knox Art Gallery and the Coca-Cola baseball field, which hosts the Buffalo Bisons.
Buffalo summers are warm and partly cloudy, while the winters are freezing and windy. The summer temperatures in the 70’s, with lows in the mid-60’s. The winter temperatures are in the 30’s, with lows in the high teens.
Population, Job Market and Cost of Living
Buffalo’s population in 2019 was 259,574, with a growth rate of -2.4%. The job growth has increased by 1.01% over the last year and in ten years, is predicted to have increased by 28.16%. The major industries are healthcare, social assistance, educational services and retail trade. The largest companies to work for are Delaware North, M&T Bank, Rich Products, Employer Services and Kaleida Health. The cost of living is low, due to the Buffalo real estate market and cost of available housing.
As a major part of the St. Lawrence Seaway, low cost of living, gradual job growth and proximity to the famous Niagara Falls, Buffalo proves to its residents why it’s a pleasure living and working there.
