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 March 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 March 2023
Summary: The median home sold price in Cherry Valley Township was $210,000 in March 2024, up 5% from last year, and the median price per square foot was $125.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | Mar 2023 | Mar 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $95K | $122K | +28.4% |
2 Bedrooms | $146.7K | $173.4K | +18.2% |
3 Bedrooms | $198K | $205K | +3.5% |
4 Bedrooms | $241.7K | $280K | +15.8% |
5+ Bedrooms | $340K | $397K | +16.8% |
Summary: Cherry Valley Township housing prices by bedroom type for March 2024 compared to the previous year: The home price of 1 bedroom homes increased by 28.4%, 2 bedroom homes increased by 18.2%, 3 bedroom homes increased by 3.5%, 4 bedroom homes increased by 15.8%, and 5+ bedroom homes increased by 16.8%.
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% |
Housing Supply in Cherry Valley Township, IL
How many homes are available in Cherry Valley Township, IL?
Number of Homes For Sale
Feb 2024 | Mar 2024 | CHANGE |
---|---|---|
17 | 22 | +29.4% |
Summary: The Cherry Valley Township real estate market had 22 homes for sale in March 2024, a 29.4% increase 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 | 5 | 3 | -40.0% |
3 Bedrooms | 8 | 14 | +75.0% |
4 Bedrooms | 3 | 4 | +33.3% |
5+ Bedrooms | 0 | 1 | +100.0% |
Summary: The Cherry Valley Township 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 40%, 3 bedroom homes increased by 75%, 4 bedroom homes increased by 33.3%, and 5+ bedroom homes increased by 100%.
Number of Homes Sold
Feb 2024 | Mar 2024 | CHANGE |
---|---|---|
6 | 8 | +33.3% |
Asking Price vs. Sold Price
2 Homes Were Sold
Under Asking
2 Homes Were Sold
At Asking
4 Homes Were Sold
Over Asking
Summary: A total of 8 homes were sold or pending in Cherry Valley Township in March 2024, up by 33.3% month-over-month. Of the 8 sold homes, 25% were sold under asking, 25% 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
Mar 2023 | Mar 2024 | CHANGE |
---|---|---|
33 Days | 37 Days | +13.9% |
Summary: Homes in Cherry Valley Township had an average of 37 days on market in Mar 2024, up by 13.9% compared to last year.
Breakdown of Home Sale Times
5 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, 8 homes were sold in Cherry Valley Township; 63% of homes were sold within 30 days, 13% of homes were sold within 30 to 90 days, and 25% of homes were sold over 90 days.