Buffalo, NY 14204 Real Estate Market Report

ZIP Code: 14204
Report Date: March 2026
Market Temperature: HOT
Scope: Single-Family Residential (SFR) listings and comps only

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Executive Overview

The Buffalo, NY (ZIP: 14204) real estate market is currently characterized by a median sold price of $102,000, reflecting a competitive environment where buyer demand is strong. This price indicates a healthy market dynamic, particularly as the area has seen an upward trend in prices year-over-year. The market remains robust, with a median days on market of 292, suggesting a slower sales velocity, which may indicate a need for strategic pricing by sellers to attract buyers in a landscape of elevated inventory levels.

Despite the slower transaction volume, the median listing price stands at $81,000, creating a notable gap between listing and sold prices. This discrepancy may suggest that sellers are optimistic about achieving higher prices, while buyers are more cautious. Additionally, the median market rent has risen to $1,309, indicating a growing demand for rental properties, which may further influence purchasing decisions as potential buyers weigh the cost of homeownership against rising rental costs. Overall, the market appears to be in a state of strengthening amidst moderate interest rate pressure, with current mortgage rates at 6.22%, slightly lower than the previous year's average.

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Market Overview

This analysis is based on a sample of properties from this ZIP code (up to 200 sold properties and up to 100 active properties). The median prices below are calculated from all available properties in the sample, while trend analysis uses properties from the selected analysis window.

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Market Metrics

Note: The property counts shown above represent only the properties analyzed in this report sample, not the total inventory for this ZIP code. Median prices are calculated from all available properties in the sample, while trend analysis uses properties from the selected analysis window.

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Rental Market

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Property Taxes

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Liquidity & Velocity

Note: A Sale-to-List Ratio near 100% can occur when properties sell at or near their final listing price after price adjustments during the listing period, even when initial listing prices differ significantly from sale prices.

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Market Trends & Context

Understanding Market Temperature

A Hot market indicates strong buyer demand with limited inventory, typically characterized by rising prices, quick sales (low days on market), and inventory levels below historical averages.

Current Mortgage Rate Context

Market-level mortgage rate comparison for this area:

Current 30-year fixed mortgage rates in the Buffalo NY 14204 area around 6.22% are 0.45% lower than the average rate of 6.67% seen a year ago in early 2026.

Note: Interest rate comparisons provide market context. The existing "Interest Rate Pressure" metric above shows the qualitative market impact.

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Key Findings

1. The median sold price of $102,000 reflects a competitive market with strong buyer interest.

2. A median days on market of 292 indicates slower sales velocity, suggesting potential pricing challenges for sellers.

3. The median listing price of $81,000 shows a significant gap compared to sold prices, indicating possible pricing friction.

4. Rising median market rent at $1,309 suggests increasing demand for rental properties, impacting buyer decisions.

5. Current mortgage rates at 6.22% are lower than last year's average, potentially easing buyer financing concerns.

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Notable Properties

The following 8 properties represent notable market examples and recent transactions that illustrate key market dynamics. These are illustrative examples selected for their significance (top sales, market benchmarks, quick sales) and are not the basis for the statistical calculations shown above.