Buffalo, NY Housing Market Report

The Buffalo, NY housing market remains a resilient environment for sellers as of December 2025, characterized by steady price appreciation and high demand. With a median home value of $232,182, the market has seen a 3.79% increase over the past year. The most telling indicator of seller leverage is the sale-to-list ratio of 1.03, which confirms that the average home in the Buffalo-Cheektowaga metro area is selling for 3% above its asking price. While active inventory has grown by 6.24% to 1,498 units, this modest increase in supply has not yet been enough to offset the competitive nature of the region.

Price trends over the last six months show a consistent upward trajectory, moving from $228,254 in July to $232,182 in December. This incremental growth suggests a stable market rather than a volatile bubble, driven largely by Buffalo's relative affordability compared to national averages and a tightening timeline for transactions. Homes are currently moving faster than they were a year ago, with the median days on market dropping to 37 days. This acceleration indicates that despite higher inventory levels, buyer appetite remains strong enough to absorb new listings quickly.

Looking ahead, both buyers and sellers must navigate a market that is becoming more efficient but remains supply-constrained. For buyers, the 1.03 sale-to-list ratio means they should be prepared for bidding wars and should likely budget for offers above the asking price. For sellers, the decrease in days on market suggests that well-priced homes will sell rapidly, but the rising inventory levels mean they may soon face more competition from other listings. Overall, Buffalo continues to offer a more accessible entry point into homeownership than many other New York markets, though the window for finding undervalued gems is narrowing as prices continue their steady climb.