Buffalo, NY 14224 Real Estate Market Report

ZIP Code: 14224
Report Date: May 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

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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 14224 area are averaging 6.30%, reflecting a stable market environment for property owners compared to earlier 2026 fluctuations.

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 primary indicator of realized market value is the $259,900 median sold price, which represents the neighborhood's recent transaction-level pricing and should guide valuation and underwriting decisions.

2. There is a meaningful gap between the $299,999 median listing price and the $259,900 median sold price, which may indicate pricing friction as sellers test higher asks while buyers transact at lower comparable prices; this gap suggests careful comp selection is required.

3. Market velocity appears slow based on the 245 median days on market, which points to slower sales velocity and may lengthen time-to-close assumptions for listings and acquisitions.

4. Market context shows a hot market temperature with prices and rents trending up and moderate interest rate pressure, implying continued upside for pricing but with caution on financing cost sensitivity and underwriting at the stated 30-year fixed rate environment.

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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.

Buffalo, NY 14224 Real Estate Market Report

ZIP Code: 14224
Report Date: May 2026
Market Temperature: HOT
Scope: This ZIP code analysis focuses on condominium properties. Metrics are calculated from recent condo 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

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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 14224 area are averaging 6.30%, reflecting a stable market environment for property owners compared to earlier 2026 fluctuations.

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 value indicator, the median sold price of $140,000, confirms recent transaction-level pricing and anchors appraisal and underwriting assumptions for SFR and condo assets.

2. Despite a median days on market of 381, which suggests slower sales velocity, the market temperature is hot, indicating that longer listing durations coexist with persistent buyer activity—this may point to pricing friction or a mismatch between seller expectations and executed sale prices.

3. Pricing density shows a median price per square foot of $169 while rental support registers a median market rent of $1,050; together these metrics support holding strategies for owners given the up rent year-over-year trend, though investors should underwrite using the provided rent figure rather than assumed uplift.

4. Market-level signals show prices are up year-over-year and the market temperature is hot, while interest rate pressure is moderate; this combination suggests sellers retain pricing power but financing conditions may temper rapid escalation.

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Notable Properties

The following 6 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.