Is Tonopah, AZ a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Tonopah is a seller's market

Buyer's
Market

Difference Since February 2023

Since last year, Tonopah has remained a Seller's Market.

Key Takeaway

Tonopah is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.

Housing Prices in Tonopah, AZ

How much do homes in Tonopah, AZ cost?

Median Sold Price

$400,000

$219/sqft

Based on all homes sold in the last 12 months.

Difference Since February 2023

+$10(0.0%)

Key Takeaway

The sold price of homes in Tonopah has remained the same since last year.

Summary: The median home sold price in Tonopah was $400,000 in February 2024, the same as last year, and the median price per square foot was $219.

Median Sold Price By Bedroom Count

# BEDSFeb 2023Feb 2024CHANGE
1 -$165K
N/A
2 $245K$290K
+18.4%
3 $377.9K$372K
-1.6%
4 $430K$410K
-4.7%
5+ $560K$406K
-27.5%

Summary: Tonopah housing prices by bedroom type for February 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes increased by 18.4%, 3 bedroom homes decreased by 1.6%, 4 bedroom homes decreased by 4.7%, and 5+ bedroom homes decreased by 27.5%.

Median Sold Price Compared To Nearby Cities

Wittmann
+2.0%
Tonopah
0.0%
Buckeye
-8.8%

Housing Supply in Tonopah, AZ

How many homes are available in Tonopah, AZ?

Number of Homes For Sale

Jan 2024Feb 2024CHANGE
4350+16.3%

Summary: The Tonopah real estate market had 50 homes for sale in February 2024, a 16.3% increase compared to January 2024.

Homes For Sale By Bedroom Count

# BEDSJan 2024Feb 2024CHANGE
1 11
0.0%
2 55
0.0%
3 1113
+18.2%
4 2228
+27.3%
5+ 43
-25.0%

Summary: The Tonopah housing inventory by bedroom type for February 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes remained the same, 3 bedroom homes increased by 18.2%, 4 bedroom homes increased by 27.3%, and 5+ bedroom homes decreased by 25%.

Number of Homes Sold

Jan 2024Feb 2024CHANGE
39+200.0%

Asking Price vs. Sold Price

5 Homes Were Sold
Under Asking

3 Homes Were Sold
At Asking

1 Home Was Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Tonopah, you may be able to get a good deal. 55.6% of homes here sold below asking price last month.

Summary: A total of 9 homes were sold or pending in Tonopah in February 2024, up by 200.0% month-over-month. Of the 9 sold homes, 56% were sold under asking, 33% were sold at asking, and 11% were sold over asking.

Days on Market for Tonopah, AZ

How long does it take to sell a home in Tonopah, AZ?

Average Sale Time

Feb 2023Feb 2024CHANGE
78 Days67 Days-14.1%

Summary: Homes in Tonopah had an average of 67 days on market in Feb 2024, down by 14.1% compared to last year.

Breakdown of Home Sale Times

2 Homes Were Sold
Under 30 Days

5 Homes Were Sold
In 30 - 90 Days

2 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

Avg time on Rocket Homes in Tonopah has remained consistent over time.

Summary: During February 2024, 9 homes were sold in Tonopah; 22% of homes were sold within 30 days, 56% of homes were sold within 30 to 90 days, and 22% of homes were sold over 90 days.

Housing Market Reports are calculated by Rocket Homes Real Estate and based on information from the MLS.

Report Updated 4 Days Ago

Newest Listings in Tonopah, AZ

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