Is Tonawanda, NY a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since March 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
$235,000
$172/sqft
Based on all homes sold in the last 12 months.
Difference Since March 2023
Key Takeaway
Homes in Tonawanda have sold for 11.4% more than they did a year ago.
Summary: The median home sold price in Tonawanda was $235,000 in March 2024, up 11.4% from last year, and the median price per square foot was $172.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | - | N/A |
| 2 Bedrooms | $185K | $187.5K | +1.4% |
| 3 Bedrooms | $211.2K | $235K | +11.2% |
| 4 Bedrooms | $240K | $248.8K | +3.7% |
| 5+ Bedrooms | $163K | $256K | +57.1% |
Summary: Tonawanda housing prices by bedroom type for March 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes increased by 1.4%, 3 bedroom homes increased by 11.2%, 4 bedroom homes increased by 3.7%, and 5+ bedroom homes increased by 57.1%.
Median Sold Price Compared To Nearby Cities
| Tonawanda | $211K | $235K | +11.4% |
| North Tonawanda | $213K | $234.5K | +10.1% |
| Grand Island | $319.9K | $344.7K | +7.8% |
Housing Supply in Tonawanda, NY
How many homes are available in Tonawanda, NY?
Number of Homes For Sale
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 90 | 78 | -13.3% |
Summary: The Tonawanda real estate market had 78 homes for sale in March 2024, a 13.3% decrease compared to February 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 0 | 0 | 0.0% |
| 2 Bedrooms | 15 | 11 | -26.7% |
| 3 Bedrooms | 57 | 48 | -15.8% |
| 4 Bedrooms | 15 | 13 | -13.3% |
| 5+ Bedrooms | 3 | 6 | +100.0% |
Summary: The Tonawanda housing inventory by bedroom type for March 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes decreased by 26.7%, 3 bedroom homes decreased by 15.8%, 4 bedroom homes decreased by 13.3%, and 5+ bedroom homes increased by 100%.
Number of Homes Sold
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 30 | 25 | -16.7% |
Asking Price vs. Sold Price
7 Homes Were Sold
Under Asking
2 Homes Were Sold
At Asking
16 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Tonawanda, you could pay more than the asking price. 64% of homes here sold above asking price last month.
Summary: A total of 25 homes were sold or pending in Tonawanda in March 2024, down by 16.7% month-over-month. Of the 25 sold homes, 28% were sold under asking, 8% were sold at asking, and 64% 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
| Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|
| 17 Days | 19 Days | +9.8% |
Summary: Homes in Tonawanda had an average of 19 days on market in Mar 2024, up by 9.8% compared to last year.
Breakdown of Home Sale Times
21 Homes Were Sold
Under 30 Days
3 Homes Were Sold
In 30 - 90 Days
1 Home Was Sold
Over 90 Days
Key Takeaway
Many homes in Tonawanda are selling fast, if you're buying plan to act quickly.
Summary: During March 2024, 25 homes were sold in Tonawanda; 84% of homes were sold within 30 days, 12% of homes were sold within 30 to 90 days, and 4% of homes were sold over 90 days.
