Is Cherryville, NC 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, Cherryville has remained a Seller's Market.
Key Takeaway
Cherryville is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Cherryville, NC
How much do homes in Cherryville, NC cost?
Median Sold Price
$243,750
$165/sqft
Based on all homes sold in the last 12 months.
Difference Since March 2023
Key Takeaway
Homes in Cherryville have sold for 6.4% more than they did a year ago.
Summary: The median home sold price in Cherryville was $243,750 in March 2024, up 6.4% from last year, and the median price per square foot was $165.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $49.1K | $109K | +121.6% |
| 2 Bedrooms | $145K | $171K | +17.9% |
| 3 Bedrooms | $239.9K | $251.2K | +4.7% |
| 4 Bedrooms | $342K | $320K | -6.4% |
| 5+ Bedrooms | $397K | $352K | -11.3% |
Summary: Cherryville housing prices by bedroom type for March 2024 compared to the previous year: The home price of 1 bedroom homes increased by 121.6%, 2 bedroom homes increased by 17.9%, 3 bedroom homes increased by 4.7%, 4 bedroom homes decreased by 6.4%, and 5+ bedroom homes decreased by 11.3%.
Median Sold Price Compared To Nearby Cities
| Cherryville | $229K | $243.7K | +6.4% |
| Cherryville Township | $240K | $242.5K | +1.0% |
| Crouse | $355K | $250K | -29.6% |
Housing Supply in Cherryville, NC
How many homes are available in Cherryville, NC?
Number of Homes For Sale
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 47 | 62 | +31.9% |
Summary: The Cherryville real estate market had 62 homes for sale in March 2024, a 31.9% increase compared to February 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 2 | 1 | -50.0% |
| 2 Bedrooms | 9 | 12 | +33.3% |
| 3 Bedrooms | 26 | 37 | +42.3% |
| 4 Bedrooms | 7 | 10 | +42.9% |
| 5+ Bedrooms | 3 | 2 | -33.3% |
Summary: The Cherryville housing inventory by bedroom type for March 2024 compared to the previous month: The inventory of 1 bedroom homes decreased by 50%, 2 bedroom homes increased by 33.3%, 3 bedroom homes increased by 42.3%, 4 bedroom homes increased by 42.9%, and 5+ bedroom homes decreased by 33.3%.
Number of Homes Sold
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 6 | 12 | +100.0% |
Asking Price vs. Sold Price
6 Homes Were Sold
Under Asking
1 Home Was Sold
At Asking
5 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Cherryville, you may be able to get a good deal. 50% of homes here sold below asking price last month.
Summary: A total of 12 homes were sold or pending in Cherryville in March 2024, up by 100.0% month-over-month. Of the 12 sold homes, 50% were sold under asking, 8% were sold at asking, and 42% were sold over asking.
Days on Market for Cherryville, NC
How long does it take to sell a home in Cherryville, NC?
Average Sale Time
| Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|
| 89 Days | 61 Days | -31.6% |
Summary: Homes in Cherryville had an average of 61 days on market in Mar 2024, down by 31.6% compared to last year.
Breakdown of Home Sale Times
6 Homes Were Sold
Under 30 Days
3 Homes Were Sold
In 30 - 90 Days
3 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Cherryville are selling fast, if you're buying plan to act quickly.
Summary: During March 2024, 12 homes were sold in Cherryville; 50% of homes were sold within 30 days, 25% of homes were sold within 30 to 90 days, and 25% of homes were sold over 90 days.
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