Buffalo, NY 14214 Real Estate Market Report

ZIP Code: 14214
Report Date: March 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: 14214) stands at $249,900, reflecting a robust market where homes are selling quickly. This indicates a strong demand despite the elevated interest rate pressure, which is currently around 6.09%, slightly lower than the 2026 origination average of 6.66%. The market has shown an upward trend in prices, supported by local economic growth, although the precise historical sold price change percentage is not available for analysis.

Transaction activity appears to be moderate, with elevated inventory levels suggesting a balance between buyer demand and available properties. The median days on market is 265, indicating a slower sales velocity, which may reflect the ongoing adjustments in buyer expectations amidst fluctuating interest rates. Overall, the market remains hot, characterized by quick sales and properties often selling above the asking price, despite some caution in pricing due to the gap between median listing price of $419,900 and median sold price.

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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 Buffalo NY around 6.09% are 0.57% lower than the 2026 origination average of 6.66%, presenting a refinancing cost opportunity for property owners.

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. $249,900 is the median sold price, indicating strong demand despite elevated interest rate pressure.

2. The market temperature is classified as hot, suggesting competitive conditions for buyers and sellers alike.

3. With a median days on market of 265, sales velocity appears slower, indicating potential pricing friction.

4. The median listing price of $419,900 shows a significant gap compared to the median sold price, suggesting caution in seller expectations.

5. The median market rent is $1,360, reflecting an upward trend in rental prices, which may attract investors.

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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.