Is Cherokee County, NC a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Cherokee County is a neutral's market

Buyer's
Market

Difference Since November 2021

At the same time last year, Cherokee County was a Seller's Market.

Key Takeaway

Cherokee County is a Neutral Housing Market, which means prices tend to be reasonable and homes stay on the market for a typical length of time.

How much do homes in Cherokee County, NC cost?

Median Sold Price

$280,000

$192/sqft

Based on all homes sold in the last 12 months.

Difference Since November 2021

+$30,720(+12.3%)

Key Takeaway

Homes in Cherokee County have sold for 12.3% more than they did a year ago.

Median Sold Price By Bedroom Count

# BEDSNov 2021Nov 2022%
1 $158K$179.9K
+13.9%
2 $235K$279.9K
+19.1%
3 $286.2K$310K
+8.3%
4 $458K$333K
-27.3%
5+ $400K$190K
-52.5%

Median Sold Price Compared To Nearby Counties

Clay County
+21.1%
Graham County
+15.5%
Union County
+13.5%
Monroe County
+13.5%
Cherokee County
+12.3%

How many homes are available in Cherokee County, NC?

Number of Homes For Sale

Oct 2022Nov 2022%
210198-5.7%

Homes For Sale By Bedroom Count

# BEDSOct 2022Nov 2022%
1 77
0.0%
2 10190
-10.9%
3 8278
-4.9%
4 1417
+21.4%
5+ 66
0.0%

Number of Homes Sold

Oct 2022Nov 2022%
4230-28.6%

Asking Price vs. Sold Price

24 Homes Were Sold
Under Asking

3 Homes Were Sold
At Asking

3 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Cherokee County, you may be able to get a good deal. 80% of homes here sold below asking price last month.

Average Sale Time

Nov 2021Nov 2022%
57 Days76 Days+33.4%

Breakdown of Home Sale Times

0 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

Avg time on Rocket Homes in Cherokee County has remained consistent over time.

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

About Cherokee County, NC

There are 198 homes are for sale in Cherokee County, NC real estate market. In November 2022 in Cherokee County, NC there were 5.7% less homes for sale than in October 2022. In November 2022, listings were on the market for 76 days. During the same period, the median list price in this real estate market was $280,000. Between October 2022 and November 2022, listing prices of homes in this real estate market have seen the following changes: 1 bedroom properties became 13.9% more expensive, the cost of 2 bedrooms properties went up by 19.1%, prices of 3 bedrooms properties increased by 8.3%, prices of 4 bedrooms properties went down by 27.3%, 5 bedrooms properties prices decreased by 52.5%. Housing inventory have changed in this real estate market: 1 bedroom homes inventory did not change, number of 2 bedrooms homes decreased by 10.9%, 3 bedrooms homes inventory decreased by 4.9%, 4 bedrooms homes became 21.4% more available, number of 5 bedrooms homes remained the same. Over 3 listings were sold over their listed price in November 2022 in Cherokee County, NC. In the same period over 24 listings were sold below the listed price and 3 listings were sold for the listed price.

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