Buffalo, NY 14220 Real Estate Market Report

ZIP Code: 14220
Report Date: March 2026
Market Temperature: HOT
Scope: Single-Family Residential (SFR) listings and comps only

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Executive Overview

As of March 2026, the real estate market in Buffalo, NY (ZIP: 14220) is characterized by a median sold price of $217,000, reflecting a robust market despite recent signs of cooling. The neighborhood has increased up since 2023, indicating a strong demand for homes. The median listing price stands at $195,000, which suggests a notable pricing gap that may indicate seller expectations are higher than current market realities.

Market activity shows 279 days on market, suggesting a slower sales velocity in the current environment. Elevated inventory levels relative to sales activity indicate a potential shift in market dynamics, possibly influenced by elevated interest rate pressure. The median market rent is $1,309, which continues to exert upward pressure on rental demand, further complicating the landscape for potential buyers and investors.

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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 average around 6.38% to 6.61%, which is slightly higher than the 6.25% seen in early March 2026.

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 $217,000 reflects strong market performance despite recent cooling trends.

2. With a median days on market of 279, the market is experiencing slower sales velocity, indicating potential pricing friction.

3. The median listing price of $195,000 suggests a significant gap between seller expectations and market realities, which may lead to adjustments in pricing strategies.

4. Elevated inventory levels relative to sales activity may indicate a shift in market dynamics, influenced by elevated interest rate pressure.

5. The median market rent of $1,309 continues to rise, exerting upward pressure on rental demand and impacting buyer decisions.

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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.