Buffalo

NYBuffalo-Niagara Falls

Real Estate Market Analysis

Q3 2025 Report
$244,420 (June 2025)
Median Home Price
Approximately 276,000 (city); 1.1 million (metro area, 2023 estimate)
Population
Not specified in available data
Median Income
Buffalo Public Schools: mixed performance; suburban districts (e.g., Williamsville, Clarence, Amherst) consistently rank among the best in NY state
School District Rating

Market Overview

Property Values

$244,420 (June 2025)
Median Home Price
$164
Price per Sq Ft
+6.4% (June 2024–June 2025)
YoY Change

Market Performance

Days on MarketNot specified in available data, but market is considered 'hot' with rapid sales
Market TypeSeller's market (high demand, low inventory)
Months of SupplyApproximately 5.3 (based on 1,704 homes for sale and 321 sold in June 2025)

Sales Activity

Sales Volume321 homes sold in June 2025
Metro AreaBuffalo-Niagara Falls
PopulationApproximately 276,000 (city); 1.1 million (metro area, 2023 estimate)

Economic Indicators

Employment & Growth

Unemployment RateNot specified in available data
Job Growth RateBuffalo has the highest ratio of new jobs to new homes permitted among the top 50 metros, indicating strong job growth relative to housing supply
Median Household IncomeNot specified in available data

Major Employers

  • Kaleida Health
  • Roswell Park Comprehensive Cancer Center
  • University at Buffalo
  • M&T Bank
  • Moog Inc.
  • General Motors (Lockport)

Demographics

Approximately 276,000 (city); 1.1 million (metro area, 2023 estimate)
Population
Not specified in available data
Median Age
Stable to slightly increasing, driven by in-migration of young professionals and families seeking affordability
Population Growth
Not specified in available data
Education Level

Family Composition

Growing share of millennials and baby boomers in the housing market

Key Industries

HealthcareEducationFinanceManufacturingTechnology

Education

School District

Buffalo Public Schools: mixed performance; suburban districts (e.g., Williamsville, Clarence, Amherst) consistently rank among the best in NY state
District Rating

Top Schools

  • Williamsville Central School District
  • Clarence Central School District
  • Amherst Central School District

Higher Education

  • University at Buffalo (SUNY)
  • Canisius College
  • Buffalo State College

Infrastructure & Development

Major Projects

  • Buffalo Billion economic development initiative (ongoing)
  • Expansion of Buffalo Niagara Medical Campus
  • Redevelopment of waterfront and downtown areas
  • Improvements to public transit and highways

Transportation

  • Metro Rail expansion
  • Highway upgrades

Planned Developments

  • Mixed-use developments in downtown and waterfront
  • Affordable housing initiatives

Lifestyle & Amenities

Recreation

  • Delaware Park
  • Buffalo Zoo
  • Canalside waterfront district

Dining & Entertainment

  • Elmwood Village
  • Allentown
  • Hertel Avenue

Cultural Attractions

  • Albright-Knox Art Gallery
  • Shea's Performing Arts Center
  • Buffalo Museum of Science

Investment Analysis

Investment Opportunities

  • Strong price appreciation (6.4% YoY, June 2025)
  • High demand from millennials and baby boomers
  • Relatively affordable compared to Northeast peers (Boston, NYC)
  • Growing job market attracting new residents
  • Potential for value-add investments in emerging neighborhoods

Growth Outlook

Zillow projects 3% home value increase in 2025, following 6% in 2024; continued growth likely if job market remains strong

Market Risks

  • Limited inventory (1,704 homes for sale, down 0.8% MoM)
  • Construction not keeping pace with job growth, risking further supply shortages
  • Elevated mortgage rates (6–7% range) may limit buyer pool
  • Potential for overvaluation if demand cools

Rental Market

Not specified in available data

Marketing Intelligence

Target Demographics

  • Young professionals and families
  • Remote workers seeking affordability
  • Retirees and downsizers

Marketing Channels

  • Social media (Instagram, Facebook)
  • Zillow, Realtor.com
  • Local print and digital media

Pricing Strategies

Price competitively; consider slight under-pricing to drive demand in a hot market

Common Objections & Response Strategies

Objection: Buffalo is too cold

Response Strategy:

Highlight four-season lifestyle, affordability, and indoor amenities

Objection: Limited job opportunities

Response Strategy:

Cite strong job growth, major employers, and economic development initiatives

Objection: School quality concerns

Response Strategy:

Recommend top suburban districts; provide data on school performance

Professional Recommendations

1

Stay informed on local job growth and economic development

2

Build expertise in both urban and suburban markets

3

Leverage digital tools for lead generation and client communication

4

Educate buyers on Buffalo's affordability and growth potential

5

Prepare sellers for quick, competitive sales

6

Monitor interest rate trends and adjust strategies accordingly

Competitive Analysis

Comparable Markets

  • Indianapolis
  • Providence
  • Hartford
  • Philadelphia

Market Positioning

Buffalo is positioned as a high-growth, affordable alternative to pricier Northeast metros, with a balanced urban-suburban mix

Competitive Advantages

  • More affordable than Boston/NYC
  • Strong job growth relative to housing supply
  • Quality of life amenities

Price Comparison

Median home price in Buffalo ($244,420) is significantly below Boston ($700,000+) and NYC ($800,000+)

Investment Metrics

Not specified in available data
Cap Rates
Not specified in available data
Rental Yields
Not specified in available data
Price-to-Rent
Not specified in available data
Cash Flow
3% in 2025 (Zillow)
Appreciation

Buyer Journey Insights

First-Time Buyers

Seek affordability, starter homes, and proximity to jobs/amenities; sensitive to mortgage rates

Move-Up Buyers

Prioritize school districts, larger homes, and neighborhood amenities

Downsizers

Look for low-maintenance properties, access to healthcare, and walkable communities

Investors

Focus on cash flow, appreciation potential, and emerging neighborhoods

Relocators

Attracted by job opportunities, affordability, and quality of life compared to higher-cost metros

This city analysis was generated using comprehensive market data and AI intelligence.

Market conditions change rapidly - consult with local real estate professionals for the most current information.

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