Olean Mortgage Rates & Closing Costs

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  • Trends
  • Rates vs. Fees
  • Top Lenders
  • Market Share
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  • Loan Attributes
    • 30yr Fixed Rate 15yr Fixed Rate FHA USDA VA 5/1 ARM

    30 Year Fixed Rate mortgages in Olean averaged 7.27% for the week of 2024-04-18, compared to the national average of 7.1% for the same period.

    The average rate for the prior week (2024-04-11) was 7.05% and one month ago for the week of 2024-03-14, the average rate was 7.01%.

    Olean's average rate one year ago was 6.44%.

    For refis of the same type during the week of 2024-04-18, the average rate was 7.7%.

    Loan Type Date Rate
    US 30 Year Fixed Rate 2024-04-18 7.1%
    Olean 30 Year Fixed Rate 2024-04-18 7.27%
    Olean 30 Year Fixed Rate Refi 2024-04-18 7.7%
    Olean 15 Year Fixed Rate 2024-04-18 6.29%
    Olean 15 Year Fixed Rate Refi 2024-04-18 6.39%
    Olean 30 Year FHA 2024-04-18 7.05%
    Olean 30 Year FHA Refi 2024-04-18 7.16%
    Olean 30 Year USDA 2024-04-18 6.96%
    Olean 30 Year USDA Refi 2024-04-18 6.96%
    Olean 30 Year VA 2024-04-18 6.86%
    Olean 30 Year VA Refi 2024-04-18 6.76%
    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
    Olean's median listing price for 2024-03-01 was $199,000, a difference of $70,325 (54.7%) versus the prior year and $23,075 versus the prior month.

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

    Olean's average listing price for 2024-03-01 was $410,785, a difference of $173,201 (72.9%) versus the prior year and $59,783 versus the prior month.

    For the 2024-03-01 period, Olean had 134 MLS listings, a difference of -3 listings (-2%) versus the prior month and 25 listings (23%) 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
    Olean's median listing age (time on market) for 2024-03-01 was 0 days.

    Olean's median square footage for active listings during the 2024-03-01 period was 1,568 sqft. One year prior, the average listing was 1,499 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.