Is Cherokee Township, MO a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Cherokee Township is a seller's market

Buyer's
Market

Difference Since May 2023

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

Key Takeaway

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

Housing Prices in Cherokee Township, MO

How much do homes in Cherokee Township, MO cost?

Median Sold Price

$471,955

-

Based on all homes sold in the last 12 months.

Difference Since May 2023

+$117,455(+33.1%)

Key Takeaway

Homes in Cherokee Township have sold for 33.1% more than they did a year ago.

Median Sold Price By Bedroom Count

# BEDSMay 2023May 2024CHANGE
1 --
N/A
2 $227.7K$218K
-4.3%
3 $300K$304K
+1.3%
4 $361.5K$412.5K
+14.1%
5+ $494.9K$667.5K
+34.9%

Summary: Cherokee Township 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 decreased by 4.3%, 3 bedroom homes increased by 1.3%, 4 bedroom homes increased by 14.1%, and 5+ bedroom homes increased by 34.9%.

Median Sold Price Compared To Nearby Cities

Cherokee Township
+33.1%
Springfield
+6.6%
Springfield Township
+6.6%

Housing Supply in Cherokee Township, MO

How many homes are available in Cherokee Township, MO?

Number of Homes For Sale

Apr 2024May 2024CHANGE
3633-8.3%

Summary: The Cherokee Township real estate market had 33 homes for sale in May 2024, a 8.3% decrease compared to April 2024.

Homes For Sale By Bedroom Count

# BEDSApr 2024May 2024CHANGE
1 00
0.0%
2 00
0.0%
3 1110
-9.1%
4 78
+14.3%
5+ 1815
-16.7%

Summary: The Cherokee Township 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 remained the same, 3 bedroom homes decreased by 9.1%, 4 bedroom homes increased by 14.3%, and 5+ bedroom homes decreased by 16.7%.

Number of Homes Sold

Apr 2024May 2024CHANGE
914+55.6%

Asking Price vs. Sold Price

6 Homes Were Sold
Under Asking

6 Homes Were Sold
At Asking

2 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Cherokee Township, you may be able to get a good deal. 42.9% of homes here sold below asking price last month.

Summary: A total of 14 homes were sold or pending in Cherokee Township in May 2024, up by 55.6% month-over-month. Of the 14 sold homes, 43% were sold under asking, 43% were sold at asking, and 14% were sold over asking.

Days on Market for Cherokee Township, MO

How long does it take to sell a home in Cherokee Township, MO?

Average Sale Time

May 2023May 2024CHANGE
97 Days69 Days-28.6%

Summary: Homes in Cherokee Township had an average of 69 days on market in May 2024, down by 28.6% compared to last year.

Breakdown of Home Sale Times

6 Homes Were Sold
Under 30 Days

4 Homes Were Sold
In 30 - 90 Days

4 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

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

Summary: During May 2024, 14 homes were sold in Cherokee Township; 43% of homes were sold within 30 days, 29% of homes were sold within 30 to 90 days, and 29% 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 1 Day Ago

Newest Listings in Cherokee Township, MO

Nearby Markets to Cherokee Township, MO

What housing markets are near Cherokee Township, MO?