A small city that hosts two famous institutions but flies under the national radar
Olean, New York, is home to just under 14,000 residents. It sits on the banks of the Alleghany River and is the largest city in Western New York’s Southern Tier region. “We’re not a county seat, but we do serve many bedroom communities,” says Realtor Patricia Collier with RE/MAX On Point, who has lived in Olean for 12 years. “We host a prestigious university, St. Bonaventure, and we’re the home of Cutco, the kitchen knife brand. We have a vibrant chamber of commerce that has invested a lot of money into Main Street.” Despite all this, and its thriving business districts and entertainment scenes, Olean tends to be an unfamiliar name on the national stage. “Nobody pronounces it right,” she laughs. “But that’s because it feels very much like a small town. When I moved here from Maine, I researched extensively, and it became home. Today, I never know who to thank when I get up in the morning and my driveway has been shoveled. It could have been any one of my neighbors.”
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Historic homes on well-organized streets
Homes in Olean sit on well-ordered gridlock streets, crisscrossed by sidewalks and shaded by tall leafy trees. “There are a lot of historic homes in town,” Collier says. “Some new builds have gone up, but mostly what you’ll find is older stock.” The median price in the city is around $115,000, and nearly every home is within walking distance of the Alleghany River. Like most of Western New York, snow is a regular occurrence, but residents see less than might be expected. “Because we’re sort of nestled in the valley, we tend not to see as much snow as nearby towns with higher elevation,” Collier says.
Homes like this Victorian can be found mostly in the west part of Olean while more modern builds are typical for the northeast.
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Public schools, private options and St. Bonaventure University
Students are zoned to attend the Olean City School District, which scores an overall C from Niche. Private options include Southern Tier Catholic School, which earns an A. On the national stage, the city is known for its proximity to St. Bonaventure University. “It really draws a lot of people to the area,” Collier says. “You can hardly go anywhere without seeing someone in a Bonnie sweatshirt.” On U.S. News and World Report’s list of Best Regional University Values in the North, St. Bonaventure placed 6th.
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North Union Street is the de facto Main Street of Olean
Grocery stores and big-box retailers are scattered throughout the city, accessible via West State Street and North Union Street, the two major thoroughfares. Most of Olean’s restaurants sit on either side of Union Street, from casual eateries to locally owned draws. “We’re really well-known for Beef 'N' Barrel,” Collier says. “There’s plenty of shopping on Main Street, and a lot of investment went in to putting in roundabouts all along it, which made it very walkable.”
Beef-N-Barrel is a family owned steakhouse in Olean that has been open for over 40 years.
North Union Street is the de facto main street of Olean with many shops and restaurants.
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Green spaces along the Alleghany River
Proximity to the river informs most of Olean’s outdoor recreation. “The Alleghany River has a paved trail that loops around the St. Bonaventure campus,” Collier says. “There’s a bunch of parks along it, too, with gazebos for picnics and even a dog park.” Baseball diamonds at Forness Park and Franchot Park draw crowds for pickup games, and boating or fishing the river is a common pastime.
Franchot Park in Olean has a baseball diamond, a playground and a splashpad.
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Crime statistics
Crime data for Olean is not readily available.
Two major thoroughfares connect Olean to Buffalo
While most of Olean is walkable, residents will likely rely on cars to get to other parts of the state. North Union Street is the main north-south thoroughfare, connecting the community to Interstate 86 and Buffalo.
March Madness and the Ellicottville ski resort
Outside of March Madness, when support for qualifying St. Bonaventure teams grips the town, Olean’s events are driven by local churches and the community. “St. Mary of the Angels is a church that gained basilica status,” Collier says. “They have a huge festival for four days every year that always draws a crowd.” The local farmer’s market takes place every Saturday when in season and the nearby Ellicottville ski resort hosts Oktoberfest celebrations and other festivals throughout the year.
Written By
Hugh Taylor
Photography Contributed By
Stefan Ludwig
Video By
EB Fox
Interested in learning more about homes in this area?
Reach out to
Joseph Sciandra,
an experienced agent in this area.
GreatSchools:
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On average, homes in Olean, NY sell after 54 days on the market compared to the national average of 52 days. The median sale price for homes in Olean, NY over the last 12 months is $125,000, up 16% from the median home sale price over the previous 12 months.
Great investment opportunity in the City of Olean! This 2-unit home offers a 2 bedroom, 1 bath layout both upstairs and down, each with their own kitchen and living room. The property features off-street parking and a covered front porch. While it will need updates and repairs, it is priced to sell and provides excellent potential for rental income or an owner-occupant. Home is being sold AS-IS,
This 2-unit home is full of potential and ready for its next owner. Both apartments are currently vacant, making it an ideal choice for an investor or owner-occupant looking to customize and add value. The property offers off-street parking, an attached garage, and a welcoming covered front porch. While it does need some TLC, the layout and location make it a great investment opportunity. With a
Excellent investment opportunity with this 7-unit apartment building offering strong rental income potential and plenty of off-street parking for tenants, with 10+ spaces available. Unit 1 is a freshly remodeled 1-bedroom, 1-bath apartment, currently vacant and ready to lease for $850–$900. Unit 2 has also been newly remodeled and vacant, a spacious 1-bedroom, 1-bath unit with rental potential of
Walk Score® measures the walkability of any address. Transit Score® measures access to public transit. Bike Score® measures the bikeability of any address. CAP Index provides objective, accurate, and consistent data to help measure, compare, and mitigate crime risks.
Disclaimer: Certain information contained herein is derived from information provided by parties other than Homes.com. Our sources include: Accuweather, Public Records and Neustar. All information provided is deemed reliable, but is not guaranteed to be accurate and should be independently verified.
