Is Cherry Valley, IL a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since March 2023
Since last year, Cherry Valley has remained a Seller's Market.
Housing Prices in Cherry Valley, IL
How much do homes in Cherry Valley, IL cost?
Median Sold Price
$276,500
$130/sqft
Based on all homes sold in the last 12 months.
Difference Since March 2023
Summary: The median home sold price in Cherry Valley was $276,500 in March 2024, up 10.6% from last year, and the median price per square foot was $130.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | Mar 2023 | Mar 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $95K | $108.8K | +14.5% |
2 Bedrooms | $184K | $174.9K | -4.9% |
3 Bedrooms | $257K | $277.5K | +8.0% |
4 Bedrooms | $306.5K | $306K | -0.2% |
5+ Bedrooms | $120K | $404.5K | +237.1% |
Summary: Cherry Valley housing prices by bedroom type for March 2024 compared to the previous year: The home price of 1 bedroom homes increased by 14.5%, 2 bedroom homes decreased by 4.9%, 3 bedroom homes increased by 8%, 4 bedroom homes decreased by 0.2%, and 5+ bedroom homes increased by 237.1%.
Median Sold Price Compared To Nearby Cities
Rockford | $125K | $150K | +20.0% |
Rockford Township | $129.7K | $150K | +15.6% |
Cherry Valley | $249.9K | $276.5K | +10.6% |
Cherry Valley Township | $200K | $210K | +5.0% |
Flora Township | $135K | $121.5K | -10.0% |
Housing Supply in Cherry Valley, IL
How many homes are available in Cherry Valley, IL?
Number of Homes For Sale
Feb 2024 | Mar 2024 | CHANGE |
---|---|---|
9 | 6 | -33.3% |
Summary: The Cherry Valley real estate market had 6 homes for sale in March 2024, a 33.3% decrease compared to February 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Feb 2024 | Mar 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 1 | 0 | -100.0% |
2 Bedrooms | 3 | 2 | -33.3% |
3 Bedrooms | 3 | 4 | +33.3% |
4 Bedrooms | 2 | 0 | -100.0% |
5+ Bedrooms | 0 | 0 | 0.0% |
Summary: The Cherry Valley housing inventory by bedroom type for March 2024 compared to the previous month: The inventory of 1 bedroom homes decreased by 100%, 2 bedroom homes decreased by 33.3%, 3 bedroom homes increased by 33.3%, 4 bedroom homes decreased by 100%, and 5+ bedroom homes remained the same.
Number of Homes Sold
Feb 2024 | Mar 2024 | CHANGE |
---|---|---|
4 | 3 | -25.0% |
Asking Price vs. Sold Price
2 Homes Were Sold
Under Asking
1 Home Was Sold
At Asking
0 Homes Were Sold
Over Asking
Summary: A total of 3 homes were sold or pending in Cherry Valley in March 2024, down by 25.0% month-over-month. Of the 3 sold homes, 67% were sold under asking, 33% were sold at asking, and 0% were sold over asking.
Days on Market for Cherry Valley, IL
How long does it take to sell a home in Cherry Valley, IL?
Average Sale Time
Mar 2023 | Mar 2024 | CHANGE |
---|---|---|
41 Days | 89 Days | +116.1% |
Summary: Homes in Cherry Valley had an average of 89 days on market in Mar 2024, up by 116.1% compared to last year.
Breakdown of Home Sale Times
0 Homes Were Sold
Under 30 Days
1 Home Was Sold
In 30 - 90 Days
2 Homes Were Sold
Over 90 Days
Summary: During March 2024, 3 homes were sold in Cherry Valley; 0% of homes were sold within 30 days, 33% of homes were sold within 30 to 90 days, and 67% of homes were sold over 90 days.