Is Cherry Valley, IL a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Cherry Valley is a seller's market

Buyer's
Market

Difference Since July 2021

Since last year, Cherry Valley has remained a Seller's Market.

Key Takeaway

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

How much do homes in Cherry Valley, IL cost?

Median Sold Price

$187,000

$117/sqft

Based on all homes sold in the last 12 months.

Difference Since July 2021

+$2,000(+1.1%)

Key Takeaway

Homes in Cherry Valley have sold for 1.1% more than they did a year ago.

Median Sold Price By Bedroom Count

# BEDSJul 2021Jul 2022%
1 $80K$101.5K
+26.9%
2 $122K$145K
+18.9%
3 $190K$207.5K
+9.2%
4 $203.5K$235K
+15.5%
5+ $240K$186K
-22.5%

Median Sold Price Compared To Nearby Cities

Rockford
+10.1%
Rockford Township
+8.7%
Cherry Valley Township
+7.5%
Flora Township
+7.1%
Cherry Valley
+1.1%

How many homes are available in Cherry Valley, IL?

Number of Homes For Sale

Jun 2022Jul 2022%
106-40.0%

Homes For Sale By Bedroom Count

# BEDSJun 2022Jul 2022%
1 10
-100.0%
2 41
-75.0%
3 55
0.0%
4 00
0.0%
5+ 00
0.0%

Number of Homes Sold

Jun 2022Jul 2022%
34+33.3%

Asking Price vs. Sold Price

0 Homes Were Sold
Under Asking

0 Homes Were Sold
At Asking

4 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Cherry Valley, you could pay more than the asking price. 100% of homes here sold above asking price last month.

Average Sale Time

Jul 2021Jul 2022%
20 Days2 Days-89.2%

Breakdown of Home Sale Times

4 Homes Were Sold
Under 30 Days

0 Homes Were Sold
In 30 - 90 Days

0 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

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

Housing Market Reports are calculated by Rocket Homes Real Estate and based on information from the MLS.

About Cherry Valley, IL

Cherry Valley, IL has 6 homes for sale to choose from. The inventory of homes for sale in Cherry Valley, IL between June 2022 and July 2022 decreased by 40%. In July 2022, listings were on the market for 2 days. During the same period, the median list price in this real estate market was $187,000. Listing prices have changed in this real estate market between June 2022 and July 2022: 1 bedroom properties became 26.9% more expensive, 2 bedrooms properties prices increased by 18.9%, prices of 3 bedrooms properties went up by 9.2%, prices of 4 bedrooms properties went up by 15.5%, 5 bedrooms properties became 22.5% more cheaper. This housing market inventory have changed: 1 bedroom homes inventory decreased by 100%, volume of 2 bedrooms homes went down by 75%, number of 3 bedrooms homes remained the same, the quantity of 4 bedrooms homes have not changed, volume of 5 bedrooms homes stayed the same. In July 2022, from all listings sold in Cherry Valley, IL there were more than 4 sold above asking price, over 0 sold below and more than 0 were sold right at the asked price.

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