Buffalo, NY 14215 Real Estate Market Report

ZIP Code: 14215
Report Date: April 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: 14215) is currently $169,900, reflecting a slight year-over-year decrease. This trend suggests a market that is adjusting to current economic conditions, despite broader forecasts indicating modest appreciation in the city. The market appears to be experiencing moderate sales activity, characterized by a median days on market of 263 days, indicating slower sales velocity and potential pricing friction for sellers.

Inventory conditions show elevated levels, with active listings exceeding sold properties in the analyzed sample. This excess supply relative to sales activity may indicate a shift in buyer sentiment or a need for sellers to adjust expectations to align with current market realities. The rental market, however, is under upward pressure, with a median market rent of $1,309, suggesting strong demand for rental properties despite the overall market dynamics.

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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 are approximately 6.38%, which is lower than the historical average of 7.70% for this loan type.

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 $169,900 indicates a slight year-over-year decrease, suggesting potential pricing adjustments in the market.

2. With a median days on market of 263 days, the market is experiencing slower sales velocity, which may lead to pricing friction for sellers.

3. Elevated inventory levels indicate excess supply relative to sales activity, suggesting a need for sellers to adjust expectations.

4. The median market rent of $1,309 reflects strong demand in the rental market, contrasting with the sales market's performance.

5. Current interest rate pressure is elevated, which may impact buyer affordability and overall market activity.

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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.