Is Cherry Valley Township, IL a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since April 2023
Since last year, Cherry Valley Township has remained a Seller's Market.
Housing Prices in Cherry Valley Township, IL
How much do homes in Cherry Valley Township, IL cost?
Median Sold Price
$210,000
$125/sqft
Based on all homes sold in the last 12 months.
Difference Since April 2023
Summary: The median home sold price in Cherry Valley Township was $210,000 in April 2024, up 5% from last year, and the median price per square foot was $125.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | Apr 2023 | Apr 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $95K | $122K | +28.4% |
2 Bedrooms | $150K | $173.4K | +15.6% |
3 Bedrooms | $199K | $210K | +5.5% |
4 Bedrooms | $258.5K | $272K | +5.2% |
5+ Bedrooms | $349.5K | $352.5K | +0.9% |
Summary: Cherry Valley Township housing prices by bedroom type for April 2024 compared to the previous year: The home price of 1 bedroom homes increased by 28.4%, 2 bedroom homes increased by 15.6%, 3 bedroom homes increased by 5.5%, 4 bedroom homes increased by 5.2%, and 5+ bedroom homes increased by 0.9%.
Median Sold Price Compared To Nearby Cities
Rockford | $127K | $153.1K | +20.6% |
Rockford Township | $130K | $151.6K | +16.7% |
Cherry Valley | $254.2K | $277K | +8.9% |
Cherry Valley Township | $200K | $210K | +5.0% |
Housing Supply in Cherry Valley Township, IL
How many homes are available in Cherry Valley Township, IL?
Number of Homes For Sale
Mar 2024 | Apr 2024 | CHANGE |
---|---|---|
25 | 25 | 0.0% |
Summary: The Cherry Valley Township real estate market had 25 homes for sale in April 2024, the same as March 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Mar 2024 | Apr 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 0 | 0 | 0.0% |
2 Bedrooms | 3 | 1 | -66.7% |
3 Bedrooms | 16 | 15 | -6.3% |
4 Bedrooms | 5 | 8 | +60.0% |
5+ Bedrooms | 1 | 1 | 0.0% |
Summary: The Cherry Valley Township housing inventory by bedroom type for April 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes decreased by 66.7%, 3 bedroom homes decreased by 6.3%, 4 bedroom homes increased by 60%, and 5+ bedroom homes remained the same.
Number of Homes Sold
Mar 2024 | Apr 2024 | CHANGE |
---|---|---|
8 | 10 | +25.0% |
Asking Price vs. Sold Price
2 Homes Were Sold
Under Asking
3 Homes Were Sold
At Asking
5 Homes Were Sold
Over Asking
Summary: A total of 10 homes were sold or pending in Cherry Valley Township in April 2024, up by 25.0% month-over-month. Of the 10 sold homes, 20% were sold under asking, 30% were sold at asking, and 50% were sold over asking.
Days on Market for Cherry Valley Township, IL
How long does it take to sell a home in Cherry Valley Township, IL?
Average Sale Time
Apr 2023 | Apr 2024 | CHANGE |
---|---|---|
27 Days | 10 Days | -63.1% |
Summary: Homes in Cherry Valley Township had an average of 10 days on market in Apr 2024, down by 63.1% compared to last year.
Breakdown of Home Sale Times
9 Homes Were Sold
Under 30 Days
1 Home Was Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Summary: During April 2024, 10 homes were sold in Cherry Valley Township; 90% of homes were sold within 30 days, 10% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.