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Featured local agent — Olean, NY
Sarah Mitchell
Compass Real Estate · Olean, NY
“Your trusted relocation specialist since 2009. 350+ homes sold. Zero-pressure, data-first approach.”
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Olean, NY Housing Market & Real Estate
Housing market overview · Updated monthly ·
$131,000median sale price
How is the Olean, NY housing market right now?
The median home sale price in Olean, NY is $131,000, up 4.8% year-over-year. Homes sell in an average of 20 days with 52 active listings. The market is currently a buyer's market. (Source: Redfin monthly MLS data, as of May 2026 — the most recent Redfin release; Redfin publishes each month's data on a ~6-week lag.)
Is Olean a buyer's or seller's market?
Olean, NY is currently a buyer's market, based on 6.5 months of supply and homes selling in about 20 days. How we determine this →
Homes sold
8
Last 12 weeks
Days on market
20
Fast-moving
Active listings
52
6.5 months supply
Sale-to-list
95.7%
Below asking
What does the Olean housing market data show?
| Metric | Value |
|---|---|
| Median sale price | $131,000 |
| Median list price | $139,900 |
| Year-over-year price change | +4.8% |
| Average days on market | 20 days |
| Active inventory | 52 listings |
| Months of supply | 6.5 months |
| Sale-to-list price ratio | 95.7% |
| Median price per sq ft | $93/sq ft |
| Homes sold (latest month) | 8 |
| New listings (latest month) | 21 |
| Listings with a price cut | 19.2% |
| Market condition | Buyer's market |
Source: Redfin · Updated monthly
How much do homes cost in Olean by property type?
How the Olean, NY market breaks down across single-family homes, condos, and townhouses.
| Property type | Median price | Price / sq ft | Homes sold | Days on market |
|---|---|---|---|---|
| Single-family | $151,650 | $104/sq ft | 6 | 22 days |
| Townhouse | $114,000 | $56/sq ft | 1 | 130 days |
Source: Redfin · Updated monthly
The Olean housing market is currently classified as a buyer's market with a median sale price of $131,000. Prices have risen 4.8% compared to last year, with homes spending an average of 20 days on market, indicating 6.5 months of inventory.This inventory level gives buyers significantly more negotiating power, allowing time to inspect properties thoroughly and potentially negotiate better terms.
Homes for sale in Olean
There are currently 52 homes listed for sale in Olean, New York. The median listing price is $140K.
Active listings
52
Homes on market
Median list price
$140K
Avg. days on market
20
Days until sale
New this week
21
Newly listed
Who lives in Olean?
Population
13,798
Median income
$47,553/yr
Median age
38.7 years
Owner-occupied
54.3%
College grads
29.1%
Avg commute
16.4 min
Source: U.S. Census Bureau ACS
What are homes worth in Olean?
Zillow rent index
$825/mo
Source: Zillow Research
What is it like to live in Olean?
Olean is a community of approximately 14K residents with a median age of 38.7 years.The median household income is $47,553, which represents a working-class community with solid middle-income opportunities. 29.1% of residents hold a bachelor's degree or higher, showing a mixed educational demographic.
Homeownership rates are at 54.3%, showing a blend of owner and renter-occupied properties. The average commute time is 16.4 minutes, which makes this an excellent choice for those seeking short commutes to employment centers.Overall, Olean offers a balanced lifestyle with accessible home values relative to local income levels.
Which public schools serve Olean?
5 schools tracked · 2,345 students
The largest public schools serving Olean, NY by enrollment, drawn from the National Center for Education Statistics. School quality is a commonly cited factor in home-buying decisions — these are the campuses families in this area are most likely to encounter.
OLEAN SENIOR HIGH SCHOOL
Grades 8-12 · 658 students
OLEAN INTERMEDIATE-MIDDLE SCHOOL
Grades 3-12 · 544 students
CATTARAUGUS-ALLEGANY-ERIE-WYOMING BOCES
Grades K-12 · 480 students
EAST VIEW ELEMENTARY SCHOOL
Grades PK-3 · 359 students
WASHINGTON WEST ELEMENTARY SCHOOL
Grades PK-3 · 304 students
Source: National Center for Education Statistics, Common Core of Data directory. Updated annually. Ratings and test scores are not currently displayed.
Which cities are near Olean, NY?
Want a head-to-head view? Compare Olean side-by-side with any other U.S. city using our market-comparison tool.
Frequently asked questions
What is the average home price in Olean?
The median home sale price in Olean is $131,000, up 4.8% from last year.
How long do homes stay on market in Olean?
Homes typically spend 20 days on market before going under contract.
What is the median income in Olean?
The median household income is $47,553 per year.
Is Olean a buyer's or seller's market?
With 6.5 months of supply, Olean is currently a buyer's market.
How much does a single-family home cost in Olean?
The median single-family home price in Olean, NY is $151,650 (about $104 per square foot).
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