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Cattaraugus County Market Update – May 2025: A Shifting Landscape

Updated: 5 days ago

As we move into summer, the Cattaraugus County real estate market is showing some notable shifts. The May 2025 housing data reveals a mix of opportunities and challenges for both buyers and sellers.


📉 Activity Slows, But Prices Surge

Closed sales dropped 35.8% compared to May 2024, and pending sales fell 21.3%. However, that hasn’t stopped home prices from climbing. The median sales price jumped 20.9% year-over-year, now sitting at $190,450. Year-to-date, prices are up more than 20%.


📦 Inventory Rebounds

After years of tight inventory, the number of homes for sale rose by nearly 30%, giving buyers more options. Months of inventory increased to 3.9, a healthy uptick from last year’s 2.9.


⏳ Homes Sitting Longer

With rising home prices and stubbornly high interest rates, the Housing Affordability Index dropped 16.5%. This means that the average household’s ability to afford a median-priced home has declined.


What This Means for You:

  • Sellers: Prices are still strong, but with homes taking longer to sell, you'll need a solid marketing strategy to stand out.

  • Buyers: You’ll find more choices now, but may need to act quickly on well-priced properties—especially as competition could pick up through summer.


📞 Want a breakdown specific to your neighborhood or home? Reach out—I'm happy to help.



 
 
 

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