Why Live in Olean
Olean is a small city in Western New York’s Southern Tier region, home to nearly 14,000 residents. It sits along the Alleghany River and features historic homes on well-organized streets shaded by tall trees. The city is known for its proximity to St. Bonaventure University and the headquarters of Cutco, the kitchen knife brand. Southern Tier Catholic School is highly rated. North Union Street serves as the main thoroughfare, hosting a variety of restaurants, including the popular Beef 'N' Barrel, and numerous shopping options. The city has invested in making Main Street walkable with roundabouts. Outdoor recreation is centered around the Alleghany River, with paved trails, parks, and baseball diamonds at Forness Park and Franchot Park. Residents enjoy boating and fishing on the river. While crime data is not readily available, Olean is connected to Buffalo via Interstate 86, and local events include the St. Mary of the Angels basilica festival and a seasonal farmer’s market. Nearby Ellicottville ski resort hosts Oktoberfest and other festivals throughout the year.
Home Trends in Olean, NY
On average, homes in Olean, NY sell after 59 days on the market compared to the national average of 50 days. The median sale price for homes in Olean, NY over the last 12 months is $117,360, up 8% from the median home sale price over the previous 12 months.
Median Sale Price
$117,360
Median Single Family Sale Price
$124,900
Average Price Per Sq Ft
$94
Number of Homes for Sale
40
Last 12 months Home Sales
286
Median List Price
$129,900
Median Change From 1st List Price
6%
Median Home Sale Price YoY Change
8%