Is Cherokee Township, MO a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Cherokee Township is a seller's market

Buyer's
Market

Difference Since March 2023

At the same time last year, Cherokee Township was a Neutral Market.

Key Takeaway

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

Housing Prices in Cherokee Township, MO

How much do homes in Cherokee Township, MO cost?

Median Sold Price

$402,500

-

Based on all homes sold in the last 12 months.

Difference Since March 2023

+$61,000(+17.9%)

Key Takeaway

Homes in Cherokee Township have sold for 17.9% more than they did a year ago.

Median Sold Price By Bedroom Count

# BEDSMar 2023Mar 2024CHANGE
1 --
N/A
2 $227.7K$210K
-7.8%
3 $265K$300K
+13.2%
4 $341.5K$412.5K
+20.8%
5+ $480K$680.4K
+41.8%

Summary: Cherokee Township housing prices by bedroom type for March 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes decreased by 7.8%, 3 bedroom homes increased by 13.2%, 4 bedroom homes increased by 20.8%, and 5+ bedroom homes increased by 41.8%.

Median Sold Price Compared To Nearby Cities

Cherokee Township
+17.9%
East Clay A Township
+11.4%
Springfield
+9.9%
Springfield Township
+9.9%

Housing Supply in Cherokee Township, MO

How many homes are available in Cherokee Township, MO?

Number of Homes For Sale

Feb 2024Mar 2024CHANGE
3035+16.7%

Summary: The Cherokee Township real estate market had 35 homes for sale in March 2024, a 16.7% increase compared to February 2024.

Homes For Sale By Bedroom Count

# BEDSFeb 2024Mar 2024CHANGE
1 00
0.0%
2 12
+100.0%
3 1010
0.0%
4 88
0.0%
5+ 1115
+36.4%

Summary: The Cherokee Township housing inventory by bedroom type for March 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes increased by 100%, 3 bedroom homes remained the same, 4 bedroom homes remained the same, and 5+ bedroom homes increased by 36.4%.

Number of Homes Sold

Feb 2024Mar 2024CHANGE
16+500.0%

Asking Price vs. Sold Price

3 Homes Were Sold
Under Asking

1 Home Was Sold
At Asking

2 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Cherokee Township, you may be able to get a good deal. 50% of homes here sold below asking price last month.

Summary: A total of 6 homes were sold or pending in Cherokee Township in March 2024, up by 500.0% month-over-month. Of the 6 sold homes, 50% were sold under asking, 17% were sold at asking, and 33% were sold over asking.

Days on Market for Cherokee Township, MO

How long does it take to sell a home in Cherokee Township, MO?

Average Sale Time

Mar 2023Mar 2024CHANGE
21 Days42 Days+94.6%

Summary: Homes in Cherokee Township had an average of 42 days on market in Mar 2024, up by 94.6% compared to last year.

Breakdown of Home Sale Times

4 Homes Were Sold
Under 30 Days

1 Home Was Sold
In 30 - 90 Days

1 Home Was Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

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

Summary: During March 2024, 6 homes were sold in Cherokee Township; 67% of homes were sold within 30 days, 17% of homes were sold within 30 to 90 days, and 17% of homes were sold over 90 days.

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

Report Updated 24 Days Ago

Newest Listings in Cherokee Township, MO

Nearby Markets to Cherokee Township, MO

What housing markets are near Cherokee Township, MO?