Buffalo, NY 14208 Real Estate Market Report

ZIP Code: 14208
Report Date: February 2026
Market Temperature: HOT
Scope: Single-Family Residential (SFR) listings and comps only

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Executive Overview

The median sold price in Buffalo, NY (ZIP: 14208) currently stands at $137,449.50, reflecting a competitive market environment. Although specific historical sold price change data is not available, the market is characterized by a hot temperature and a year-over-year price trend that is up. This suggests strong buyer demand despite the elevated inventory levels observed in the sample data, indicating a market that remains favorable for sellers.

Transaction activity appears moderate, with 300 days as the median days on market, which may indicate slower sales velocity. The median listing price of $184,450 shows a notable gap compared to the median sold price, suggesting potential pricing friction as sellers adjust expectations in response to buyer behavior. Overall, the market remains robust, driven by local economic growth and increasing rental rates, with $1,470 as the median market rent, further emphasizing sustained demand for housing in the area.

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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 near 5.86% in the Buffalo NY area are 1.02% lower than the 6.87% average seen one year ago in February 2025.

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 is $137,449.50, indicating strong buyer activity despite elevated inventory levels.

2. With a median listing price of $184,450, there is notable pricing friction between seller expectations and market realities.

3. The median days on market is 300, suggesting slower sales velocity and potential challenges in closing transactions.

4. Market conditions are classified as hot, reflecting strong demand and competitive buyer urgency.

5. Rental rates are on the rise, with a median market rent of $1,470, indicating sustained demand for rental properties.

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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.