I have bought and sold three houses since 2006, and have first-hand seen the explosion in home prices and the limited inventory available in the Buffalo/Niagara region's real estate market.

There's no sign of the rise in prices slowing down, according to the latest housing information from the Buffalo News.

"Home prices kept rising – increasing by almost 7 percent over the past year – reaching the $160,000 level for just the second month ever and $5,000 short of the all-time high set during July," reports the Buffalo News.

The article mentions just how fast homes are selling -- the average home is on the market for only 32 days. "The average home that sold during September went for nearly its full asking price at the time," says the Buffalo News.

The median price of a home in western New York increased to $160,000.