Is Tonopah, AZ a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since May 2023
Since last year, Tonopah has remained a Seller's Market.
Housing Prices in Tonopah, AZ
How much do homes in Tonopah, AZ cost?
Median Sold Price
$415,000
$219/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Summary: The median home sold price in Tonopah was $415,000 in May 2024, up 3.8% from last year, and the median price per square foot was $219.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
---|---|---|---|
1 Bedroom | - | $165K | N/A |
2 Bedrooms | $245K | $260K | +6.1% |
3 Bedrooms | $372K | $370.9K | -0.3% |
4 Bedrooms | $406K | $424.7K | +4.6% |
5+ Bedrooms | $495K | $573K | +15.8% |
Summary: Tonopah housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes increased by 6.1%, 3 bedroom homes decreased by 0.3%, 4 bedroom homes increased by 4.6%, and 5+ bedroom homes increased by 15.8%.
Housing Supply in Tonopah, AZ
How many homes are available in Tonopah, AZ?
Number of Homes For Sale
Apr 2024 | May 2024 | CHANGE |
---|---|---|
63 | 59 | -6.3% |
Summary: The Tonopah real estate market had 59 homes for sale in May 2024, a 6.3% decrease compared to April 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 0 | 0 | 0.0% |
2 Bedrooms | 4 | 3 | -25.0% |
3 Bedrooms | 16 | 11 | -31.3% |
4 Bedrooms | 38 | 41 | +7.9% |
5+ Bedrooms | 5 | 4 | -20.0% |
Summary: The Tonopah housing inventory by bedroom type for May 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes decreased by 25%, 3 bedroom homes decreased by 31.3%, 4 bedroom homes increased by 7.9%, and 5+ bedroom homes decreased by 20%.
Number of Homes Sold
Apr 2024 | May 2024 | CHANGE |
---|---|---|
11 | 12 | +9.1% |
Asking Price vs. Sold Price
5 Homes Were Sold
Under Asking
6 Homes Were Sold
At Asking
1 Home Was Sold
Over Asking
Summary: A total of 12 homes were sold or pending in Tonopah in May 2024, up by 9.1% month-over-month. Of the 12 sold homes, 42% were sold under asking, 50% were sold at asking, and 8% 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
May 2023 | May 2024 | CHANGE |
---|---|---|
79 Days | 83 Days | +5.4% |
Summary: Homes in Tonopah had an average of 83 days on market in May 2024, up by 5.4% compared to last year.
Breakdown of Home Sale Times
2 Homes Were Sold
Under 30 Days
6 Homes Were Sold
In 30 - 90 Days
4 Homes Were Sold
Over 90 Days
Summary: During May 2024, 12 homes were sold in Tonopah; 17% of homes were sold within 30 days, 50% of homes were sold within 30 to 90 days, and 33% of homes were sold over 90 days.