Buffalo, NY 14223 Real Estate Market Report

ZIP Code: 14223
Report Date: April 2026
Market Temperature: HOT
Scope: This ZIP code analysis focuses on single-family residential (SFR) properties. Metrics are calculated from recent sales and active listings within the past 90 days.

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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

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 14223 are 6.17%, which is 0.08% higher than the 6.09% market low observed earlier in 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 neighborhood's primary market indicator is the $239,900 median sold price, which represents realized transaction values and should be the focal point for pricing decisions rather than asking prices.

2. There is a meaningful spread between the $269,900 median listing price and the $239,900 median sold price, which may indicate pricing friction between seller expectations and recent sale levels and suggests sellers should set offers mindful of recent transaction comparables.

3. Liquidity appears muted despite a hot market temperature: the median days on market of 276 points to slower sales velocity and extended listing exposure, which may require more aggressive pricing or concessions to accelerate closings.

4. Market pressure context is mixed: up price trends and up rent trends are occurring alongside elevated interest rate pressure (current 30-year fixed ~6.17%), so buyers face affordability headwinds even as market temperature remains hot; investors should weigh rising rents (median market rent $1,185) against financing cost sensitivity.

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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.