Olean Mortgage Rates & Closing Costs

30yr Fixed Rate 15yr Fixed Rate FHA USDA VA 5/1 ARM

30 Year Fixed Rate mortgages in Olean averaged 7.06% for the week of 2024-05-09, compared to the national average of 7.09% for the same period.

The average rate for the prior week (2024-05-02) was 7.29% and one month ago for the week of 2024-04-04, the average rate was 7.09%.

Olean's average rate one year ago was 6.66%.

For refis of the same type during the week of 2024-05-09, the average rate was 7.39%.

Loan Type Date Rate
US 30 Year Fixed Rate 2024-05-09 7.09%
Olean 30 Year Fixed Rate 2024-05-09 7.06%
Olean 30 Year Fixed Rate Refi 2024-05-09 7.39%
Olean 15 Year Fixed Rate 2024-05-09 6.38%
Olean 15 Year Fixed Rate Refi 2024-05-09 6.58%
Olean 30 Year FHA 2024-05-09 6.89%
Olean 30 Year FHA Refi 2024-05-09 6.69%
Olean 30 Year USDA 2024-05-09 6.89%
Olean 30 Year USDA Refi 2024-05-09 6.69%
Olean 30 Year VA 2024-05-09 6.39%
Olean 30 Year VA Refi 2024-05-09 6.79%
Click on whitespace and scroll within the chart to zoom in/out. Larger bubbles equate with more originations within Olean, NY.

Olean Top Lenders by Rates & Fees

The below table looks at the consensus average rates and fees provided by each lender, for only loans originated in the Olean, NY market. This includes FHA, Conventional, USDA and VA loans, as well as refis. All terms in the below chart are 30 year fixed rate. Unless noted otherwise, other data is all inclusive (FHA, ARM, 15-yr, etc.).

Name # of Loans 2023 Avg. 30yFix Rate 2023 Avg. Closing Costs
Community Bank 76 7.12% $345
UNITED WHOLESALE MORTGAGE, LLC 29 6.75% $7,157
Five Star Bank 20 6.51% $4,355
QUICKEN LOANS, LLC 18 6.97% $6,817
Premium Mortgage Corporation 16 6.66% $4,505
M&T Bank 11 6.64% $6,291
KeyBank 11 6.85% $4,519
1ST PRIORITY MORTGAGE, INC. 11 6.35% $4,114
Farm Credit East, ACA 9 7.33% $6,318
Northwest Bank 6 6.42% $3,970
Tompkins Trust Company 5 6.60% $2,338
MOVEMENT MORTGAGE, LLC 4 6.75% $4,522
PENNYMAC LOAN SERVICES, LLC 3 6.84% $3,644
Wells Fargo Bank 3 7.04% $4,619
U.S. Bank 3 6.50% $2,413
RBC Bank, (Georgia) 3 6.08% $2,410
HUNT MORTGAGE CORPORATION 3 7.25% $5,394
21ST MORTGAGE CORPORATION 3 7.53% $5,890
PLAZA HOME MORTGAGE, INC. 3 6.42% $8,413
EVERETT FINANCIAL, INC. 2 7.00% $8,178
Bank of America 2 6.88% $7,365
FAMILY FIRST OF NY 2 6.75% $3,435
GUARANTEED RATE, INC. 2 6.50% $5,432
HOMESTEAD FUNDING CORP. 2 6.44% $2,739
NEWREZ LLC 2 7.25% $13,062
PARAGON HOME LOANS INC. 2 6.81% $6,475
Plains Commerce Bank 2 6.88% $4,591
Morgan Stanley Private Bank 1 6.00% $6,085
Goldman Sachs Bank USA 1 5.24% $4,891
Mr. Cooper ( Nationstar Mortgage ) 1 7.50% $5,521
Genesee Regional Bank 1 6.00% $4,255
NAVY FEDERAL CREDIT UNION 1 6.50% $2,621
USAA Federal Savings Bank 1 5.75% $6,195
FIRST HERITAGE FEDERAL CREDIT UNION 1 6.88% $3,212
AMERICAN FINANCIAL RESOURCES, INC. 1 7.13% $8,558
FAIRWAY INDEPENDENT MORTGAGE CORPORATION 1 6.49% $4,557
Ally Bank 1 6.25% $4,818
CROSSCOUNTRY MORTGAGE, LLC 1 7.38% $8,237
Cornerstone Community Federal Credit Union 1 6.38% $4,386
PRIMELENDING, A PLAINSCAPITAL COMPANY 1 6.38% $4,956
CNB Bank 1 5.88% $3,925
CARDINAL FINANCIAL 1 6.25% $3,547
ROYAL UNITED MORTGAGE LLC 1 7.38% $4,415
SEFCU SERVICES, LLC 1 5.25% $4,168
The Lyons National Bank 1 6.00% $618
CARDINAL CREDIT UNION, INC. 1 7.33% $4,265
UBS Bank USA 1 6.13% $4,393
BETTER MORTGAGE CORPORATION 1 5.38% $11,079
HOME TOWN FUNDING, INC. 1 6.25% $3,034
JPMorgan Chase Bank 1 8.13% $5,777
GREATER WOODLAWN FEDERAL CREDIT UNION 1 5.20% $3,903

Olean Average Closing Costs & Other Stats

Olean, NY's 51 lenders originated 842 loans during 2023. The total origination value was $122,030,000, with an average loan value of $144,929.

Olean's average closing costs are $4,032.

The top Olean lender as defined by loan originations is Community Bank, with 76 loans originated. Their average total fees are $345, which is $6,812 lower than the next largest lender, UNITED WHOLESALE MORTGAGE, LLC.

The lowest fee Olean lenders (with over 10 loans originated) are Community Bank ($345), 1ST PRIORITY MORTGAGE, INC. ($4,114), Five Star Bank ($4,355), Premium Mortgage Corporation ($4,505) and KeyBank ($4,519).

The lowest rate Olean lenders (with over 10 loans originated) are 1ST PRIORITY MORTGAGE, INC. (6.35%), Five Star Bank (6.51%), M&T Bank (6.64%), Premium Mortgage Corporation (6.66%) and UNITED WHOLESALE MORTGAGE, LLC (6.75%).

Olean, NY Mortgage Market Share & Volume

Loan origination value is a good proxy for a lender's prominence within the market. The general assumption is that larger lenders will have more resources, but may spend more (and therefore charge more) on marketing and overhead expenses.

Name 2022 Loan Value 2023 Loan Value % Change 2023 Market Share
Community Bank $40,540,000 $19,060,000 -53.0% 15.6%
Five Star Bank $6,980,000 $10,075,000 44.3% 8.3%
UNITED WHOLESALE MORTGAGE, LLC $7,755,000 $9,095,000 17.3% 7.5%
QUICKEN LOANS, LLC $16,680,000 $8,935,000 -46.4% 7.3%
M&T Bank $10,975,000 $5,800,000 -47.2% 4.8%
Premium Mortgage Corporation $4,880,000 $5,525,000 13.2% 4.5%
Northwest Bank $5,850,000 $4,610,000 -21.2% 3.8%
KeyBank $7,225,000 $3,040,000 -57.9% 2.5%
PLAZA HOME MORTGAGE, INC. $545,000 $3,015,000 453.2% 2.5%
Mortgage Research Center, LLC $2,795,000 $2,750,000 -1.6% 2.3%
CNB Bank $3,455,000 $2,650,000 -23.3% 2.2%
Cattaraugus County Bank $4,560,000 $2,535,000 -44.4% 2.1%
Farm Credit East, ACA $3,260,000 $2,315,000 -29.0% 1.9%
1ST PRIORITY MORTGAGE, INC. $4,170,000 $2,240,000 -46.3% 1.8%
EVERETT FINANCIAL, INC. $3,380,000 $2,220,000 -34.3% 1.8%
Citizens Bank $1,940,000 $2,040,000 5.2% 1.7%
MOVEMENT MORTGAGE, LLC $1,510,000 $2,020,000 33.8% 1.7%
HOMESTEAD FUNDING CORP. $4,125,000 $1,970,000 -52.2% 1.6%
Bank of Holland $1,920,000 $1,965,000 2.3% 1.6%
PARAGON HOME LOANS INC. $1,675,000 $1,965,000 17.3% 1.6%
21ST MORTGAGE CORPORATION $1,135,000 $1,640,000 44.5% 1.3%
Tompkins Trust Company $385,000 $1,200,000 211.7% 1.0%
NAVY FEDERAL CREDIT UNION $220,000 $1,080,000 390.9% 0.9%
U.S. Bank $295,000 $1,070,000 262.7% 0.9%
PRIMELENDING, A PLAINSCAPITAL COMPANY $1,570,000 $1,035,000 -34.1% 0.8%
Lake Shore Savings Bank $2,440,000 $850,000 -65.2% 0.7%
The Upstate National Bank $285,000 $805,000 182.5% 0.7%
AMERICU Credit Union $45,000 $785,000 1,644.4% 0.6%
Chemung Canal Trust Company $305,000 $720,000 136.1% 0.6%
HUNT MORTGAGE CORPORATION $2,265,000 $715,000 -68.4% 0.6%
NEWREZ LLC $55,000 $715,000 1,200.0% 0.6%
LOANDEPOT.COM, LLC $955,000 $685,000 -28.3% 0.6%
Cornerstone Community Federal Credit Union $670,000 n/a 0.5%
BETTER MORTGAGE CORPORATION $155,000 $650,000 319.4% 0.5%
RBC Bank, (Georgia) $1,385,000 $645,000 -53.4% 0.5%
Wells Fargo Bank $1,660,000 $635,000 -61.7% 0.5%
HOME TOWN FUNDING, INC. $1,755,000 $605,000 -65.5% 0.5%
JPMorgan Chase Bank $375,000 $585,000 56.0% 0.5%
Plains Commerce Bank $570,000 n/a 0.5%
Mr. Cooper ( Nationstar Mortgage ) $780,000 $560,000 -28.2% 0.5%
Goldman Sachs Bank USA $545,000 n/a 0.4%
Morgan Stanley Private Bank $515,000 n/a 0.4%
PNC Bank $480,000 $475,000 -1.0% 0.4%
SEFCU SERVICES, LLC $155,000 $455,000 193.5% 0.4%
CROSSCOUNTRY MORTGAGE, LLC $4,005,000 $430,000 -89.3% 0.4%
Bank of America $1,130,000 $425,000 -62.4% 0.3%
Barrington Bank & Trust Company, N.A. $735,000 $425,000 -42.2% 0.3%
CONTOUR MORTGAGE CORPORATION $395,000 n/a 0.3%
St Joseph's Parish Buffalo Federal Credit Union $25,000 $385,000 1,440.0% 0.3%
The Lyons National Bank $385,000 n/a 0.3%
FAMILY FIRST OF NY $370,000 n/a 0.3%
The Canandaigua National Bank and Trust Company $205,000 $360,000 75.6% 0.3%
CREDIT HUMAN FEDERAL CREDIT UNION $345,000 n/a 0.3%
TRIAD FINANCIAL SERVICES, INC. $235,000 $325,000 38.3% 0.3%
AMERICAN FINANCIAL NETWORK, INC. $320,000 n/a 0.3%
Evans Bank $1,605,000 $315,000 -80.4% 0.3%
UBS Bank USA $305,000 n/a 0.2%
USAA Federal Savings Bank $900,000 $280,000 -68.9% 0.2%
PENNYMAC LOAN SERVICES, LLC $105,000 $275,000 161.9% 0.2%
Alden State Bank $1,570,000 $260,000 -83.4% 0.2%
NETWORK CAPITAL FUNDING CORPORATION $245,000 n/a 0.2%
CARDINAL CREDIT UNION, INC. $225,000 n/a 0.2%
Brighton Bank $215,000 n/a 0.2%
FAIRWAY INDEPENDENT MORTGAGE CORPORATION $1,325,000 $215,000 -83.8% 0.2%
GREATER WOODLAWN FEDERAL CREDIT UNION $215,000 n/a 0.2%
GUARANTEED RATE, INC. $190,000 $190,000 0.0% 0.2%
TOTAL MORTGAGE SERVICES, LLC $175,000 n/a 0.1%
STATE EMPLOYEES FEDERAL CREDIT UNION $70,000 $160,000 128.6% 0.1%
Advantage Federal Credit Union $155,000 n/a 0.1%
ROYAL UNITED MORTGAGE LLC $150,000 n/a 0.1%
AMERICAN FINANCIAL RESOURCES, INC. $145,000 n/a 0.1%
Carrington Mortgage Services, LLC $415,000 $135,000 -67.5% 0.1%
ONTARIO SHORES $135,000 n/a 0.1%
DIGITAL Federal Credit Union $125,000 n/a 0.1%
FIRST HERITAGE FEDERAL CREDIT UNION $85,000 $125,000 47.1% 0.1%
Moog Employees Federal Credit Union $125,000 n/a 0.1%
Webster Bank $125,000 n/a 0.1%
AMERICAN FINANCING CORPORATION $115,000 n/a 0.1%
Bank of England $540,000 $115,000 -78.7% 0.1%
GreenStone Farm Credit Services, FLCA $115,000 n/a 0.1%
Evolve Bank & Trust $105,000 n/a 0.1%
Genesee Regional Bank $355,000 $105,000 -70.4% 0.1%
Parke Bank $105,000 n/a 0.1%
UTILITIES EMPLOYEES CREDIT UNION $105,000 n/a 0.1%
CARDINAL FINANCIAL $445,000 $100,000 -77.5% 0.1%
Ally Bank $95,000 n/a 0.1%
Western Division FCU $725,000 $90,000 -87.6% 0.1%
FINANCE OF AMERICA MORTGAGE LLC $990,000 $85,000 -91.4% 0.1%
FINANCE OF AMERICA REVERSE LLC $65,000 n/a 0.1%
Financial Trust $65,000 n/a 0.1%
TD Bank $900,000 $65,000 -92.8% 0.1%
Northpointe Bank $570,000 $55,000 -90.4% 0.0%
THE SUMMIT Federal Credit Union $280,000 $55,000 -80.4% 0.0%
Discover Bank $150,000 $45,000 -70.0% 0.0%
Empower Federal Credit Union $320,000 $25,000 -92.2% 0.0%
GENESEE VALLEY $25,000 n/a 0.0%

Olean's top lender by overall market share is Community Bank, with 15.6% market share. In second place, with 8.3%, is Five Star Bank, having originated $10,075,000 in loans. In third place, with 7.5%, is UNITED WHOLESALE MORTGAGE, LLC, having originated $9,095,000 in loans. In fourth place, with 7.3%, is QUICKEN LOANS, LLC, having originated $8,935,000 in loans. In fifth place, with 4.8%, is M&T Bank, having originated $5,800,000 in loans.


Olean Housing Market Trends (Median, Average Prices & Listing Count)

Realtor.com - Olean (CBSA) retrieved from FRED, Federal Reserve Bank of St. Louis
Date Median Listing Price (YoY Change) Average Listing Price (YoY) MSA/US Median Price Ratio Active Listings
2018-01-01 $119,900 (1.2%) $195,321 (7.8%) 0.00 511
2018-02-01 $124,950 (5.4%) $205,143 (14.4%) 0.00 496
2018-03-01 $129,000 (7.6%) $208,260 (11.5%) 0.00 483
2018-04-01 $126,475 (5.5%) $205,997 (9.5%) 0.00 476
2018-05-01 $125,000 (4.2%) $202,300 (8.0%) 0.00 497
2018-06-01 $124,450 (1.5%) $201,141 (7.6%) 0.00 537
2018-07-01 $127,950 (2.8%) $200,751 (6.9%) 0.00 559
2018-08-01 $126,100 (1.0%) $196,875 (2.8%) 0.00 571
2018-09-01 $120,000 (-5.7%) $191,557 (-2.7%) 0.00 553
2018-10-01 $121,225 (-3.0%) $189,629 (-4.9%) 0.00 539
2018-11-01 $119,900 (-2.1%) $186,119 (-7.3%) 0.00 523
2018-12-01 $119,900 (-1.6%) $187,835 (-8.4%) 0.00 478
2019-01-01 $119,900 (0.0%) $191,506 (-2.0%) 0.00 444
2019-02-01 $119,900 (-4.0%) $195,272 (-4.8%) 0.00 434
2019-03-01 $131,686 (2.1%) $208,028 (-0.1%) 0.00 406
2019-04-01 $148,650 (17.5%) $220,052 (6.8%) 0.00 377
2019-05-01 $145,950 (16.8%) $214,825 (6.2%) 0.00 382
2019-06-01 $144,900 (16.4%) $211,615 (5.2%) 0.00 408
2019-07-01 $139,900 (9.3%) $206,967 (3.1%) 0.00 426
2019-08-01 $143,445 (13.8%) $209,050 (6.2%) 0.00 423
2019-09-01 $144,264 (20.2%) $211,533 (10.4%) 0.00 423
2019-10-01 $141,859 (17.0%) $210,811 (11.2%) 0.00 424
2019-11-01 $131,950 (10.1%) $206,454 (10.9%) 0.00 405
2019-12-01 $135,475 (13.0%) $212,417 (13.1%) 0.00 386
2020-01-01 $154,950 (29.2%) $229,290 (19.7%) 0.00 353
2020-02-01 $157,500 (31.4%) $228,850 (17.2%) 0.00 345
2020-03-01 $153,750 (16.8%) $225,375 (8.3%) 0.00 338
2020-04-01 $158,250 (6.5%) $229,055 (4.1%) 0.00 318
2020-05-01 $164,900 (13.0%) $229,797 (7.0%) 0.00 321
2020-06-01 $169,500 (17.0%) $226,567 (7.1%) 0.00 303
2020-07-01 $162,450 (16.1%) $225,541 (9.0%) 0.00 287
2020-08-01 $168,900 (17.8%) $234,502 (12.2%) 0.00 276
2020-09-01 $143,150 (-0.8%) $229,320 (8.4%) 0.00 264
2020-10-01 $138,450 (-2.4%) $235,427 (11.7%) 0.00 246
2020-11-01 $132,400 (0.3%) $230,408 (11.6%) 0.00 219
2020-12-01 $127,075 (-6.2%) $229,241 (7.9%) 0.00 205
2021-01-01 $135,000 (-12.9%) $239,274 (4.4%) 0.00 181
2021-02-01 $121,500 (-22.9%) $239,160 (4.5%) 0.00 158
2021-03-01 $125,950 (-18.1%) $243,992 (8.3%) 0.00 135
2021-04-01 $137,500 (-13.1%) $239,839 (4.7%) 0.00 129
2021-05-01 $127,000 (-23.0%) $226,245 (-1.6%) 0.00 126
2021-06-01 $127,200 (-25.0%) $221,699 (-2.2%) 0.00 142
2021-07-01 $137,000 (-15.7%) $213,869 (-5.2%) 0.00 161
2021-08-01 $139,900 (-17.2%) $211,305 (-9.9%) 0.00 157
2021-09-01 $131,450 (-8.2%) $206,635 (-9.9%) 0.00 158
2021-10-01 $136,500 (-1.4%) $208,496 (-11.4%) 0.00 157
2021-11-01 $128,000 (-3.3%) $214,882 (-6.7%) 0.00 146
2021-12-01 $121,500 (-4.4%) $213,552 (-6.8%) 0.00 136
2022-01-01 $115,000 (-14.8%) $215,998 (-9.7%) 0.00 119
2022-02-01 $125,000 (2.9%) $202,644 (-15.3%) 0.00 96
2022-03-01 $121,225 (-3.8%) $196,827 (-19.3%) 0.00 100
2022-04-01 $124,900 (-9.2%) $220,417 (-8.1%) 0.00 105
2022-05-01 $122,400 (-3.6%) $219,545 (-3.0%) 0.00 112
2022-06-01 $129,900 (2.1%) $225,092 (1.5%) 0.00 125
2022-07-01 $149,000 (8.8%) $207,062 (-3.2%) 0.00 143
2022-08-01 $133,425 (-4.6%) $204,577 (-3.2%) 0.00 149
2022-09-01 $124,975 (-4.9%) $190,658 (-7.7%) 0.00 146
2022-10-01 $131,500 (-3.7%) $188,803 (-9.5%) 0.00 143
2022-11-01 $121,475 (-5.1%) $176,853 (-17.7%) 0.00 143
2022-12-01 $112,400 (-7.5%) $183,970 (-13.9%) 0.00 123
2023-01-01 $113,650 (-1.2%) $193,397 (-10.5%) 0.00 112
2023-02-01 $119,730 (-4.2%) $216,983 (7.1%) 0.00 116
2023-03-01 $128,675 (6.2%) $237,584 (20.7%) 0.00 109
2023-04-01 $125,000 (0.1%) $223,681 (1.5%) 0.00 96
2023-05-01 $143,050 (16.9%) $223,541 (1.8%) 0.00 108
2023-06-01 $139,900 (7.7%) $226,301 (0.5%) 0.00 131
2023-07-01 $142,500 (-4.4%) $230,090 (11.1%) 0.00 145
2023-08-01 $142,450 (6.8%) $292,085 (42.8%) 0.00 161
2023-09-01 $140,000 (12.0%) $303,421 (59.1%) 0.00 164
2023-10-01 $159,900 (21.6%) $325,519 (72.4%) 0.00 167
2023-11-01 $156,575 (28.9%) $327,411 (85.1%) 0.00 154
2023-12-01 $139,950 (24.5%) $333,835 (81.5%) 0.00 141
2024-01-01 $164,087 (44.4%) $333,179 (72.3%) 0.00 126
2024-02-01 $175,925 (46.9%) $351,002 (61.8%) 0.00 137
2024-03-01 $199,000 (54.7%) $410,785 (72.9%) 0.00 134
2024-04-01 $223,725 (79.0%) $434,571 (94.3%) 0.00 128
Olean's median listing price for 2024-04-01 was $223,725, a difference of $98,725 (79.0%) versus the prior year and $24,725 versus the prior month.

Olean's median listing price comes in at 0% of the national average.

Olean's average listing price for 2024-04-01 was $434,571, a difference of $210,890 (94.3%) versus the prior year and $23,786 versus the prior month.

For the 2024-04-01 period, Olean had 128 MLS listings, a difference of -6 listings (-4%) versus the prior month and 32 listings (33%) versus the prior year.

Median Listing Time on Market & Square Footage

Realtor.com - Olean (CBSA) retrieved from FRED, Federal Reserve Bank of St. Louis
Date Median Listing Time on Market Median Square Footage
2018-01-01 0 days 1,594 sqft
2018-02-01 0 days 1,586 sqft
2018-03-01 0 days 1,602 sqft
2018-04-01 0 days 1,641 sqft
2018-05-01 0 days 1,617 sqft
2018-06-01 0 days 1,622 sqft
2018-07-01 0 days 1,648 sqft
2018-08-01 0 days 1,622 sqft
2018-09-01 0 days 1,620 sqft
2018-10-01 0 days 1,617 sqft
2018-11-01 0 days 1,619 sqft
2018-12-01 0 days 1,621 sqft
2019-01-01 0 days 1,600 sqft
2019-02-01 0 days 1,598 sqft
2019-03-01 0 days 1,665 sqft
2019-04-01 0 days 1,670 sqft
2019-05-01 0 days 1,673 sqft
2019-06-01 0 days 1,626 sqft
2019-07-01 0 days 1,633 sqft
2019-08-01 0 days 1,660 sqft
2019-09-01 0 days 1,672 sqft
2019-10-01 0 days 1,680 sqft
2019-11-01 0 days 1,680 sqft
2019-12-01 0 days 1,680 sqft
2020-01-01 0 days 1,708 sqft
2020-02-01 0 days 1,714 sqft
2020-03-01 0 days 1,706 sqft
2020-04-01 0 days 1,706 sqft
2020-05-01 0 days 1,677 sqft
2020-06-01 0 days 1,679 sqft
2020-07-01 0 days 1,677 sqft
2020-08-01 0 days 1,680 sqft
2020-09-01 0 days 1,611 sqft
2020-10-01 0 days 1,624 sqft
2020-11-01 0 days 1,607 sqft
2020-12-01 0 days 1,575 sqft
2021-01-01 0 days 1,624 sqft
2021-02-01 0 days 1,548 sqft
2021-03-01 0 days 1,546 sqft
2021-04-01 0 days 1,548 sqft
2021-05-01 0 days 1,483 sqft
2021-06-01 0 days 1,523 sqft
2021-07-01 0 days 1,584 sqft
2021-08-01 0 days 1,653 sqft
2021-09-01 0 days 1,692 sqft
2021-10-01 0 days 1,688 sqft
2021-11-01 0 days 1,551 sqft
2021-12-01 0 days 1,544 sqft
2022-01-01 0 days 1,470 sqft
2022-02-01 0 days 1,373 sqft
2022-03-01 0 days 1,466 sqft
2022-04-01 0 days 1,454 sqft
2022-05-01 0 days 1,450 sqft
2022-06-01 0 days 1,527 sqft
2022-07-01 0 days 1,573 sqft
2022-08-01 0 days 1,617 sqft
2022-09-01 0 days 1,566 sqft
2022-10-01 0 days 1,536 sqft
2022-11-01 0 days 1,437 sqft
2022-12-01 0 days 1,440 sqft
2023-01-01 0 days 1,428 sqft
2023-02-01 0 days 1,454 sqft
2023-03-01 0 days 1,499 sqft
2023-04-01 0 days 1,438 sqft
2023-05-01 0 days 1,483 sqft
2023-06-01 0 days 1,465 sqft
2023-07-01 0 days 1,440 sqft
2023-08-01 0 days 1,460 sqft
2023-09-01 0 days 1,559 sqft
2023-10-01 0 days 1,516 sqft
2023-11-01 0 days 1,536 sqft
2023-12-01 0 days 1,512 sqft
2024-01-01 0 days 1,512 sqft
2024-02-01 0 days 1,574 sqft
2024-03-01 0 days 1,568 sqft
2024-04-01 0 days 1,558 sqft
Olean's median listing age (time on market) for 2024-04-01 was 0 days.

Olean's median square footage for active listings during the 2024-04-01 period was 1,558 sqft. One year prior, the average listing was 1,438 sqft.

Olean, NY Market Loan Reason

Loan Purpose Originations Total Value Average Loan
Home Purchase 526 $89,090,000 $169,373
Home Improvement 103 $7,375,000 $71,602
Refi 72 $7,350,000 $102,083
Other 71 $7,285,000 $102,606
Cash Out Refi 70 $10,930,000 $156,143

Olean's most frequently cited loan purpose was Home Purchase, with 526 originations. The 2nd most popular reason was Home Improvement, with 103 originations.

Interest Rate Frequencies

Loan Rate Originations Total Value Average Loan
6-7% 349 $50,305,000 $144,140
7-8% 216 $32,580,000 $150,833
Over 8% 110 $10,970,000 $99,727
5-6% 93 $20,325,000 $218,548
<2.5% 22 $1,320,000 $60,000
3-4% 4 $250,000 $62,500
4-5% 1 $115,000 $115,000

During 2023, Olean's most frequently originated rate bucket was 6-7%, with 349 originations.

Loan Sizing (Olean, NY MSA)

Loan Size Originations Total Value Average Loan
$100,000 or less 344 $20,290,000 $58,983
$100k-200k 317 $44,645,000 $140,836
$200k-400k 152 $41,470,000 $272,829
$400k-600k 20 $9,100,000 $455,000
$600k-1000k 9 $6,525,000 $725,000

Olean's loan sizing saw the bucket of loans from $100,000 or less with 344 originations, totaling $20,290,000 in origination value.

LTV Distribution

Loan to Value Originations Total Value Average Loan
80-100% 388 $68,770,000 $177,242
60-80% 147 $24,815,000 $168,810
20-40% 106 $7,290,000 $68,774
40-60% 87 $11,695,000 $134,425
Under 20% 55 $2,205,000 $40,091
Over 100% 4 $780,000 $195,000

Olean's loan sizing saw loans grouped in the 80-100% Loan-to-value bucket with 388 originations, totaling $68,770,000 in origination value.