New Million Dollar Benchmark For Erie County

The next house in Erie County that sells for more than $1 million will set a new residential real estate benchmark.

That’s because two residential deals, whose deeds were recorded Sept. 12 in the Erie County Clerk's office, were the 56th and 57th Erie County home to sell for more than $1 million, and with those two transactions, 2024 tied a record set last year when 57 homes in the county went for north of the $1 million threshold.

Why is it significant?

Because $1 million-plus home sales are considered a key economic benchmark within the region's residential real estate industry.

“People are still buying in that upper-end market,” said Kristan Andersen, a Gurney Becker & Bourne broker.

In the two latest deals:

• Gregory and Emily Kotnis paid $1.39 million for a six-bedroom house at 188 Bidwell Parkway in Buffalo’s Delaware/Elmwood district.
  The house had been owned by Robert Meredith and Adam Cavazos.
  Built in 1901, the Italian Renaissance-styled house has 4,578 square feet and includes 15 rooms and six working fireplaces.
  The deal is 17th Buffalo private residence, this year, to sell for more than $1 million.
• And, in Clarence’s upscale Spaulding Lake subdivision, the four-bedroom house at 5032 Rockledge Dr. sold for $1.1 million with the Obama Trust 091823 buying the home from the Donald and Cynthia Fohrd Trust 112222.
  Sitting on a 1.57-acre lot, the house has 5,520 square feet and 11 total rooms. The house was built in 1997.

The deal is the 21st one this year that saw a house in Clarence sell for more than $1 million. Clarence leads all Erie County towns and cities with the most $1 million-plus home sales this year.