Olean Mortgage Rates & Closing Costs
30 Year Fixed Rate mortgages in Olean averaged
6.39%
for the week of 2024-10-10, compared to the national average of
6.32% for the same period.
The average rate for the prior week (2024-10-03) was
6.09% and
one month ago for the week of 2024-09-05, the
average rate was 6.32%.
Olean's average rate one year ago was 7.76%.
For refis of the same type during the week of 2024-10-10, the average rate
was 6.32%.
Loan Type | Date | Rate |
---|---|---|
US 30 Year Fixed Rate | 2024-10-10 | 6.32% |
Olean 30 Year Fixed Rate | 2024-10-10 | 6.39% |
Olean 30 Year Fixed Rate Refi | 2024-10-10 | 6.32% |
Olean 15 Year Fixed Rate | 2024-10-10 | 5.21% |
Olean 15 Year Fixed Rate Refi | 2024-10-10 | 5.81% |
Olean 30 Year FHA | 2024-10-10 | 5.9% |
Olean 30 Year FHA Refi | 2024-10-10 | 6.4% |
Olean 30 Year USDA | 2024-10-10 | 6.18% |
Olean 30 Year USDA Refi | 2024-10-10 | 6.08% |
Olean 30 Year VA | 2024-10-10 | 6.05% |
Olean 30 Year VA Refi | 2024-10-10 | 5.95% |
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.).
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. LouisDate | 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 |
2024-05-01 | $247,450 (73.0%) | $457,920 (104.9%) | 0.00 | 142 |
2024-06-01 | $235,000 (68.0%) | $461,212 (103.8%) | 0.00 | 150 |
2024-07-01 | $224,975 (57.9%) | $411,758 (79.0%) | 0.00 | 185 |
2024-08-01 | $199,900 (40.3%) | $371,080 (27.1%) | 0.00 | 187 |
2024-09-01 | $199,900 (42.8%) | $333,142 (9.8%) | 0.00 | 200 |
Olean's median listing price comes in at 0% of the national average.
Olean's average listing price for 2024-09-01 was $333,142, a difference of $29,721 (9.8%) versus the prior year and $-37,938 versus the prior month.
For the 2024-09-01 period, Olean had 200 MLS listings, a difference of 13 listings (7%) versus the prior month and 36 listings (22%) versus the prior year.
Median Listing Time on Market & Square Footage
Realtor.com - Olean (CBSA) retrieved from FRED, Federal Reserve Bank of St. LouisDate | 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 |
2024-05-01 | 0 days | 1,556 sqft |
2024-06-01 | 0 days | 1,587 sqft |
2024-07-01 | 0 days | 1,552 sqft |
2024-08-01 | 0 days | 1,489 sqft |
2024-09-01 | 0 days | 1,507 sqft |
Olean's median square footage for active listings during the 2024-09-01 period was 1,507 sqft. One year prior, the average listing was 1,559 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.