Is Cherryville, NC a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since May 2023
At the same time last year, Cherryville was a Seller's Market.
Key Takeaway
Cherryville is a Neutral Housing Market, which means prices tend to be reasonable and homes stay on the market for a typical length of time.
Housing Prices in Cherryville, NC
How much do homes in Cherryville, NC cost?
Median Sold Price
$243,750
$166/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Key Takeaway
Homes in Cherryville have sold for 3.9% more than they did a year ago.
Summary: The median home sold price in Cherryville was $243,750 in May 2024, up 3.9% from last year, and the median price per square foot was $166.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $62.8K | $75K | +19.3% |
| 2 Bedrooms | $145.8K | $169K | +15.8% |
| 3 Bedrooms | $240K | $253.9K | +5.8% |
| 4 Bedrooms | $320K | $350K | +9.4% |
| 5+ Bedrooms | $397K | $350K | -11.8% |
Summary: Cherryville housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes increased by 19.3%, 2 bedroom homes increased by 15.8%, 3 bedroom homes increased by 5.8%, 4 bedroom homes increased by 9.4%, and 5+ bedroom homes decreased by 11.8%.
Median Sold Price Compared To Nearby Cities
| Cherryville | $234.5K | $243.7K | +3.9% |
| Cherryville Township | $242K | $241.2K | -0.3% |
| Crouse | $370K | $246K | -33.5% |
Housing Supply in Cherryville, NC
How many homes are available in Cherryville, NC?
Number of Homes For Sale
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 61 | 54 | -11.5% |
Summary: The Cherryville real estate market had 54 homes for sale in May 2024, a 11.5% decrease compared to April 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 2 | 1 | -50.0% |
| 2 Bedrooms | 11 | 9 | -18.2% |
| 3 Bedrooms | 39 | 37 | -5.1% |
| 4 Bedrooms | 6 | 6 | 0.0% |
| 5+ Bedrooms | 3 | 1 | -66.7% |
Summary: The Cherryville housing inventory by bedroom type for May 2024 compared to the previous month: The inventory of 1 bedroom homes decreased by 50%, 2 bedroom homes decreased by 18.2%, 3 bedroom homes decreased by 5.1%, 4 bedroom homes remained the same, and 5+ bedroom homes decreased by 66.7%.
Number of Homes Sold
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 17 | 9 | -47.1% |
Asking Price vs. Sold Price
5 Homes Were Sold
Under Asking
3 Homes Were Sold
At Asking
1 Home Was Sold
Over Asking
Key Takeaway
If you're buying a home in Cherryville, 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 Cherryville in May 2024, down by 47.1% 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 Cherryville, NC
How long does it take to sell a home in Cherryville, NC?
Average Sale Time
| May 2023 | May 2024 | CHANGE |
|---|---|---|
| 32 Days | 11 Days | -64.8% |
Summary: Homes in Cherryville had an average of 11 days on market in May 2024, down by 64.8% compared to last year.
Breakdown of Home Sale Times
9 Homes Were Sold
Under 30 Days
0 Homes Were Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Cherryville are selling fast, if you're buying plan to act quickly.
Summary: During May 2024, 9 homes were sold in Cherryville; 100% of homes were sold within 30 days, 0% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.
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