Buffalo, NY 14224 Real Estate Market Report

ZIP Code: 14224
Report Date: April 2026
Market Temperature: NEUTRAL
Scope: Single-Family Residential (SFR) listings and comps only

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Executive Overview

The real estate market in Buffalo, NY (ZIP: 14224) is currently characterized by a median sold price of $269,900, reflecting stable to slightly appreciating price trends. The neighborhood has increased up since 2023, indicating a positive trajectory in property values. This growth is supported by a relatively high median listing price of $299,900, suggesting that sellers are optimistic about achieving favorable sales outcomes despite the market's current conditions.

Transaction activity appears moderate, with homes experiencing a median of 233 days on market, which indicates slower sales velocity. The inventory landscape is marked by elevated inventory levels relative to sales activity, suggesting a potential excess supply in the market. This dynamic may create pricing friction as buyers navigate through the available options, while the rental market remains robust with a median market rent of $1,410, indicating healthy demand for rental properties.

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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 Neutral market indicates balanced conditions where neither buyers nor sellers have a strong advantage, typically characterized by flat price trends, extended but stable days on market, and moderate inventory relative to sales.

Current Mortgage Rate Context

Market-level mortgage rate comparison for this area:

Current 30-year fixed mortgage rates in Buffalo, NY are averaging 6.43% as of March 20, 2026, which is 0.25% higher than the average rate of 6.18% seen in early 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. $269,900 is the median sold price, indicating stable market conditions and a positive growth trend.

2. The median days on market is 233, suggesting slower sales velocity and potential pricing friction.

3. Elevated inventory levels relative to sales activity may indicate excess supply, impacting buyer negotiations.

4. The median listing price of $299,900 reflects seller optimism, despite the slower transaction pace.

5. The rental market shows strength with a median market rent of $1,410, indicating healthy demand for rental properties.

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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.