Location, Location, Location

ALL REAL ESTATE IS LOCAL

Things are not as bad as the news makes them seem.

As the average sales price of homes declined in August from a year ago.  Erie PA saw an increase in 158 residential sales for the same period and an increase in sales price of about $5,000 (according to the Greater Erie Board of Realtors MLS data).  This shows that real estate is truly a local industry.  When it comes to the Erie PA market, things can be different from neighborhood to neighborhood.  The areas of north, south, east, west, City and County each have their own shopping, amenities, schools, parks, etc.  This makes them virtually self contained communities.

So, while new construction may be up in one area, another area may see more business development.  Still another could undergo a revitalization or neighborhood improvement. 

Your real estate market is affected more by what happens down the street than across the country.