Is Tonawanda, NY a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Tonawanda is a seller's market

Buyer's
Market

Difference Since October 2023

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

Key Takeaway

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

Housing Prices in Tonawanda, NY

How much do homes in Tonawanda, NY cost?

Median Sold Price

$238,000

$181/sqft

Based on all homes sold in the last 12 months.

Difference Since October 2023

+$10,225(+4.5%)

Key Takeaway

Homes in Tonawanda have sold for 4.5% more than they did a year ago.

Summary: The median home sold price in Tonawanda was $238,000 in October 2024, up 4.5% from last year, and the median price per square foot was $181.

Median Sold Price By Bedroom Count

# BEDSOct 2023Oct 2024CHANGE
1 -$102K
N/A
2 $185K$200K
+8.1%
3 $229K$240K
+4.8%
4 $250K$245K
-2.0%
5+ $252.5K$285K
+12.9%

Summary: Tonawanda housing prices by bedroom type for October 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes increased by 8.1%, 3 bedroom homes increased by 4.8%, 4 bedroom homes decreased by 2%, and 5+ bedroom homes increased by 12.9%.

Median Sold Price Compared To Nearby Cities

Grand Island
+9.0%
North Tonawanda
+6.7%
Tonawanda
+4.5%

Housing Supply in Tonawanda, NY

How many homes are available in Tonawanda, NY?

Number of Homes For Sale

Sep 2024Oct 2024CHANGE
156145-7.1%

Summary: The Tonawanda real estate market had 145 homes for sale in October 2024, a 7.1% decrease compared to September 2024.

Homes For Sale By Bedroom Count

# BEDSSep 2024Oct 2024CHANGE
1 22
0.0%
2 1415
+7.1%
3 10288
-13.7%
4 2932
+10.3%
5+ 98
-11.1%

Summary: The Tonawanda housing inventory by bedroom type for October 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes increased by 7.1%, 3 bedroom homes decreased by 13.7%, 4 bedroom homes increased by 10.3%, and 5+ bedroom homes decreased by 11.1%.

Number of Homes Sold

Sep 2024Oct 2024CHANGE
3740+8.1%

Asking Price vs. Sold Price

7 Homes Were Sold
Under Asking

4 Homes Were Sold
At Asking

29 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Tonawanda, you could pay more than the asking price. 72.5% of homes here sold above asking price last month.

Summary: A total of 40 homes were sold or pending in Tonawanda in October 2024, up by 8.1% month-over-month. Of the 40 sold homes, 18% were sold under asking, 10% were sold at asking, and 73% were sold over asking.

Days on Market for Tonawanda, NY

How long does it take to sell a home in Tonawanda, NY?

Average Sale Time

Oct 2023Oct 2024CHANGE
12 Days11 Days-3.1%

Summary: Homes in Tonawanda had an average of 11 days on market in Oct 2024, down by 3.1% compared to last year.

Breakdown of Home Sale Times

37 Homes Were Sold
Under 30 Days

3 Homes Were Sold
In 30 - 90 Days

0 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

Many homes in Tonawanda are selling fast, if you're buying plan to act quickly.

Summary: During October 2024, 40 homes were sold in Tonawanda; 93% of homes were sold within 30 days, 8% of homes were sold within 30 to 90 days, and 0% 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 6 Days Ago

Newest Listings in Tonawanda, NY

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