Buffalo, NY Foreclosures
How much do homes sell for in Buffalo, NY?
The average home price is currently $269,336.
In Buffalo, NY, how many homes are available?
There are currently 4 active home listings available in Buffalo.
What’s the average rental cost in Buffalo, NY?
The average rental price in Buffalo is $1,257.
What is the most expensive home in Buffalo?
The most expensive home sold in Buffalo had a price of $160,586,624.
What is currently the cheapest priced home in Buffalo, NY?
The cheapest home for sale in Buffalo is priced at $10,006.
Living in Buffalo, NY
Buffalo, NY, is a lively city with a rich cultural heritage and stunning architecture. Famous for its culinary innovations, particularly Buffalo wings, the city offers a blend of urban amenities and outdoor recreational opportunities. With a strong education system and vibrant neighborhoods, Buffalo has something for everyone.
Current Market Conditions in Buffalo, NY
The real estate market in Buffalo, NY, is currently experiencing steady growth, driven by an influx of new residents seeking affordable housing options compared to larger metropolitan areas. With housing prices still relatively low compared to national averages, real estate investment opportunities abound, particularly in revitalized neighborhoods. Buyers are particularly interested in historic homes and properties that offer potential for renovation and modern updates.
As of late 2023, Buffalo's housing inventory remains limited, leading to increased competition among buyers. Homes listed for sale are receiving multiple offers, contributing to slight price increases. The demand for single-family homes, especially in family-friendly suburbs, continues to rise, while rental properties are also seeing a boost in occupancy rates, driven by the city's growing job market.
Home Value Estimator For Buffalo, NY
There are currently 107,785 real estate properties
in Buffalo, NY,
with a median automated valuation model (AVM) price
of $200,188.00. What is an AVM? It is
a smart computer program that analyzes and predicts the approximate value of a home,
property or land in Buffalo, NY, based on current market
trends, comparable real
estate sales nearby, historical data and, of course, property features, among other
variables. These automated home estimates are often very helpful, providing buyers
and
sellers with a better idea of a home’s value ahead of the negotiation process. For
example,
the average home price in Buffalo, NY,
is $269,336.00, with the most expensive house
in Buffalo, NY, topping out
at $160,586,624.00 and the cheapest home
in Buffalo, NY,
clocking in at $10,006.00. In other words, there’s
something for every potential homebuyer
or savvy investor in Buffalo, NY!
Rent Prices
In Buffalo, NY
With the expiration of certain local, state and federal housing-related restrictions
and
mandated programs, the rental market in Buffalo, NY, is on
a rollercoaster ride. The
average rent price in Buffalo, NY,
is $1,257.00. Indeed, when looking to rent in
Buffalo, NY, you can expect to pay as little
as $500.00 or as much
as $6,930.00,
with the average rent median estimated to
be $1,210.00. The good news is that finding
an affordable and desirable property to rent in Buffalo, NY
-- whether it’s apartments,
townhomes, condominiums or single-family homes -- is made easier with knowledge of
the
local market and, of course, a little patience.
Learn more on Foreclosure homes
