Is Cheeks Township, NC a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since March 2023
At the same time last year, Cheeks Township was a Seller's Market.
Key Takeaway
Cheeks Township is a Neutral Housing Market, which means prices tend to be reasonable and homes stay on the market for a typical length of time.
Housing Prices in Cheeks Township, NC
How much do homes in Cheeks Township, NC cost?
Median Sold Price
$370,987
$187/sqft
Based on all homes sold in the last 12 months.
Difference Since March 2023
Key Takeaway
The sold price of homes in Cheeks Township has remained the same since last year.
Summary: The median home sold price in Cheeks Township was $370,987 in March 2024, up 0.3% from last year, and the median price per square foot was $187.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | - | N/A |
| 2 Bedrooms | $295K | $315K | +6.8% |
| 3 Bedrooms | $335K | $357K | +6.6% |
| 4 Bedrooms | $395.7K | $389.9K | -1.4% |
| 5+ Bedrooms | $406.4K | $406K | -0.1% |
Summary: Cheeks 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 increased by 6.8%, 3 bedroom homes increased by 6.6%, 4 bedroom homes decreased by 1.4%, and 5+ bedroom homes decreased by 0.1%.
Median Sold Price Compared To Nearby Cities
| Efland | $375K | $472K | +25.9% |
| Cedar Grove Township | $418.7K | $479K | +14.4% |
| Hillsborough Township | $435.9K | $482K | +10.6% |
| Mebane | $367K | $375.4K | +2.3% |
| Cheeks Township | $369.9K | $370.9K | 0.3% |
Housing Supply in Cheeks Township, NC
How many homes are available in Cheeks Township, NC?
Number of Homes For Sale
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 41 | 55 | +34.1% |
Summary: The Cheeks Township real estate market had 55 homes for sale in March 2024, a 34.1% increase compared to February 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 0 | 0 | 0.0% |
| 2 Bedrooms | 3 | 4 | +33.3% |
| 3 Bedrooms | 27 | 33 | +22.2% |
| 4 Bedrooms | 9 | 15 | +66.7% |
| 5+ Bedrooms | 2 | 3 | +50.0% |
Summary: The Cheeks 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 33.3%, 3 bedroom homes increased by 22.2%, 4 bedroom homes increased by 66.7%, and 5+ bedroom homes increased by 50%.
Number of Homes Sold
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 7 | 9 | +28.6% |
Asking Price vs. Sold Price
6 Homes Were Sold
Under Asking
0 Homes Were Sold
At Asking
3 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Cheeks Township, you may be able to get a good deal. 66.7% of homes here sold below asking price last month.
Summary: A total of 9 homes were sold or pending in Cheeks Township in March 2024, up by 28.6% month-over-month. Of the 9 sold homes, 67% were sold under asking, 0% were sold at asking, and 33% were sold over asking.
Days on Market for Cheeks Township, NC
How long does it take to sell a home in Cheeks Township, NC?
Average Sale Time
| Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|
| 165 Days | 60 Days | -63.2% |
Summary: Homes in Cheeks Township had an average of 60 days on market in Mar 2024, down by 63.2% compared to last year.
Breakdown of Home Sale Times
2 Homes Were Sold
Under 30 Days
5 Homes Were Sold
In 30 - 90 Days
2 Homes Were Sold
Over 90 Days
Key Takeaway
Avg time on Rocket Homes in Cheeks Township has remained consistent over time.
Summary: During March 2024, 9 homes were sold in Cheeks Township; 22% of homes were sold within 30 days, 56% of homes were sold within 30 to 90 days, and 22% of homes were sold over 90 days.
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