Buffalo, NY 14216 Real Estate Market Report

ZIP Code: 14216
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: 14216) stands at $349,450, reflecting a competitive market environment despite some localized price fluctuations. This price point indicates a stable demand, particularly as the market has shown an upward trend in property values. The neighborhood has increased 8% since 2022, suggesting a positive trajectory in market performance.

Current market conditions reveal elevated inventory levels, with a significant number of properties sold compared to those actively listed. The median days on market is notably high at 268 days, indicating a slower sales velocity. This extended timeframe may suggest pricing friction or buyer hesitance, which could impact future sales dynamics. Overall, the market remains hot, supported by steady rental demand and favorable mortgage rates, which are currently around 5.98%, providing a cost-effective financing opportunity for potential buyers.

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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

Note: The relationship between property values and rental rates reflects different market dynamics. Higher-priced properties may have lower rental yields due to factors such as luxury market positioning, owner-occupancy preferences, or long-term appreciation strategies rather than immediate rental income maximization.

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Property Taxes

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Liquidity & Velocity

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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 5.98% are 0.78% lower than the 6.76% average seen one year ago, indicating a favorable cost opportunity for new financing.

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 $349,450 indicates a stable market despite recent fluctuations.

2. With 268 days on market, the sales velocity appears slower, suggesting potential pricing friction.

3. The market temperature is classified as hot, reflecting strong buyer interest and demand.

4. Rental prices are on the rise, with a median market rent of $1,510, indicating sustained rental demand.

5. Current mortgage rates at 5.98% are 0.78% lower than last year, presenting a favorable financing environment for buyers.

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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.