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

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Cherry Valley Township is a seller's market

Buyer's
Market

Difference Since August 2021

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

Key Takeaway

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

How much do homes in Cherry Valley Township, IL cost?

Median Sold Price

$172,000

$107/sqft

Based on all homes sold in the last 12 months.

Difference Since August 2021

+$12,000(+7.5%)

Key Takeaway

Homes in Cherry Valley Township have sold for 7.5% more than they did a year ago.

Median Sold Price By Bedroom Count

# BEDSAug 2021Aug 2022%
1 $67.5K$95K
+40.7%
2 $95.5K$143.5K
+50.3%
3 $160K$167K
+4.4%
4 $186K$222.5K
+19.6%
5+ $165K$281.2K
+70.5%

Median Sold Price Compared To Nearby Cities

Cherry Valley Township
+7.5%
Rockford
+7.3%
Rockford Township
+4.7%
Cherry Valley
-2.4%

How many homes are available in Cherry Valley Township, IL?

Number of Homes For Sale

Jul 2022Aug 2022%
3630-16.7%

Homes For Sale By Bedroom Count

# BEDSJul 2022Aug 2022%
1 00
0.0%
2 11
0.0%
3 2218
-18.2%
4 108
-20.0%
5+ 33
0.0%

Number of Homes Sold

Jul 2022Aug 2022%
159-40.0%

Asking Price vs. Sold Price

3 Homes Were Sold
Under Asking

1 Home Was Sold
At Asking

5 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Cherry Valley Township, you could pay more than the asking price. 55.6% of homes here sold above asking price last month.

Average Sale Time

Aug 2021Aug 2022%
16 Days21 Days+29.6%

Breakdown of Home Sale Times

6 Homes Were Sold
Under 30 Days

3 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 Township 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 Township, IL

Number of homes for sale in Cherry Valley Township, IL real estate market have reached 30. The inventory of homes for sale in Cherry Valley Township, IL between July 2022 and August 2022 decreased by 16.7%. In August 2022 median list price was $172,000 and the average listing age was 21 days. From July 2022 through August 2022, the following changes in listing prices were observed in this housing market: prices of 1 bedroom properties went up by 40.7%, 2 bedrooms properties prices increased by 50.3%, the cost of 3 bedrooms properties went up by 4.4%, the cost of 4 bedrooms properties went up by 19.6%, the cost of 5 bedrooms properties went up by 70.5%. The following changes in the number of homes for sale were observed in this housing market: the quantity of 1 bedroom homes have not changed, volume of 2 bedrooms homes stayed the same, number of 3 bedrooms homes decreased by 18.2%, number of 4 bedrooms homes decreased by 20%, the quantity of 5 bedrooms homes have not changed. Cherry Valley Township, IL housing market in August 2022 saw over 5 listings sold above listed price, more than 1 sold at listed price and over 3 sold below.

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