Cheektowaga, NY 14225 Real Estate Market Report

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.

Market Metrics

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.

Rental Market

Property Taxes

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.

Market Trends & Context

Note: Interest rate comparisons provide market context. The existing "Interest Rate Pressure" metric above shows the qualitative market impact.

Key Findings

1. The neighborhood's primary market signal is the $209,450 median sold price, which establishes recent transaction value and suggests realized pricing is materially below the $249,000 median listing price, indicating notable seller-listing premium that may signal pricing friction between expectations and closed transactions.
2. Liquidity appears muted: the median days on market of 277 points to slower sales velocity and suggests transactions are taking longer to close despite the broader market being described as hot based on temperature indicators.
3. Market momentum is positive for prices and rents: the price year-over-year trend is up and the rent year-over-year trend is up, supporting both homeowner equity growth and strong rental demand; the median market rent of 1,350 provides a current rent reference for SFR and condominium units.
4. Affordability and financing are key constraints: interest rate pressure is described as elevated with local 30-year fixed mortgage rates averaging 6.53%, creating a higher-cost financing environment that may temper buyer purchasing power even as the market temperature reads hot; pricing should be considered against this elevated financing cost.

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.