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) stands at $149,999, reflecting the actual market transactions and indicating a competitive environment. The neighborhood has increased up since the previous year, showcasing a robust demand despite the current economic conditions. The market remains active, characterized by elevated inventory levels relative to sales activity, which may indicate a slight moderation in transaction velocity compared to previous periods.

With a median listing price of $169,000, there exists a notable gap between asking and selling prices, suggesting potential pricing friction as sellers adjust expectations to align with buyer sentiment. The median days on market is 303, indicating a slower sales velocity, which may be attributed to the elevated interest rate pressure currently affecting buyer affordability. Overall, the market temperature is classified as hot, driven by underlying economic growth and job creation that continue to support housing demand.

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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 market around 5.97% are 0.88% lower than the 6.85% 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 of $149,999 indicates strong market activity despite elevated inventory levels.

2. With a median listing price of $169,000, there is a significant gap suggesting potential pricing friction for sellers.

3. The median days on market is 303, reflecting slower sales velocity and indicating a need for strategic pricing adjustments.

4. The market temperature is classified as hot, signaling continued buyer interest despite economic pressures.

5. The median market rent of $1,470 demonstrates a growing rental market, further supporting housing demand.

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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.