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 buyer's market

Buyer's
Market

Difference Since March 2023

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

Key Takeaway

Cherokee County is a Buyers Housing Market, which means prices tend to be lower and homes stay on the market longer.

Housing Prices in Cherokee County, NC

How much do homes in Cherokee County, NC cost?

Median Sold Price

$320,000

$220/sqft

Based on all homes sold in the last 12 months.

Difference Since March 2023

+$20,100(+6.7%)

Key Takeaway

Homes in Cherokee County have sold for 6.7% more than they did a year ago.

Summary: The median home sold price in Cherokee County was $320,000 in March 2024, up 6.7% from last year, and the median price per square foot was $220.

Median Sold Price By Bedroom Count

# BEDSMar 2023Mar 2024CHANGE
1 $185K$165K
-10.8%
2 $290K$314K
+8.3%
3 $353.7K$357K
+0.9%
4 $502.5K$417.4K
-16.9%
5+ $292.4K$340K
+16.3%

Summary: Cherokee County housing prices by bedroom type for March 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 10.8%, 2 bedroom homes increased by 8.3%, 3 bedroom homes increased by 0.9%, 4 bedroom homes decreased by 16.9%, and 5+ bedroom homes increased by 16.3%.

Median Sold Price Compared To Nearby Counties

Monroe County
+17.5%
Clay County
+13.0%
Union County
+10.5%
Cherokee County
+6.7%

Housing Supply in Cherokee County, NC

How many homes are available in Cherokee County, NC?

Number of Homes For Sale

Feb 2024Mar 2024CHANGE
153205+34.0%

Summary: The Cherokee County real estate market had 205 homes for sale in March 2024, a 34.0% increase compared to February 2024.

Homes For Sale By Bedroom Count

# BEDSFeb 2024Mar 2024CHANGE
1 1418
+28.6%
2 7397
+32.9%
3 5572
+30.9%
4 715
+114.3%
5+ 43
-25.0%

Summary: The Cherokee County housing inventory by bedroom type for March 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 28.6%, 2 bedroom homes increased by 32.9%, 3 bedroom homes increased by 30.9%, 4 bedroom homes increased by 114.3%, and 5+ bedroom homes decreased by 25%.

Number of Homes Sold

Feb 2024Mar 2024CHANGE
65-16.7%

Asking Price vs. Sold Price

3 Homes Were Sold
Under Asking

0 Homes Were Sold
At Asking

1 Home Was 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. 75% of homes here sold below asking price last month.

Summary: A total of 5 homes were sold or pending in Cherokee County in March 2024, down by 16.7% month-over-month. Of the 4 sold homes, 75% were sold under asking, 0% were sold at asking, and 25% were sold over asking.

Days on Market for Cherokee County, NC

How long does it take to sell a home in Cherokee County, NC?

Average Sale Time

Mar 2023Mar 2024CHANGE
71 Days72 Days+1.4%

Summary: Homes in Cherokee County had an average of 72 days on market in Mar 2024, up by 1.4% compared to last year.

Breakdown of Home Sale Times

3 Homes Were Sold
Under 30 Days

0 Homes Were Sold
In 30 - 90 Days

1 Home Was Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

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

Summary: During March 2024, 5 homes were sold in Cherokee County; 60% of homes were sold within 30 days, 0% of homes were sold within 30 to 90 days, and 20% 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 County, NC

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What housing markets are near Cherokee County, NC?