Is Cherryville Township, NC a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Cherryville Township is a buyer's market

Buyer's
Market

Difference Since February 2023

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

Key Takeaway

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

Housing Prices in Cherryville Township, NC

How much do homes in Cherryville Township, NC cost?

Median Sold Price

$245,000

$161/sqft

Based on all homes sold in the last 12 months.

Difference Since February 2023

+$5,000(+2.1%)

Key Takeaway

Homes in Cherryville Township have sold for 2.1% more than they did a year ago.

Summary: The median home sold price in Cherryville Township was $245,000 in February 2024, up 2.1% from last year, and the median price per square foot was $161.

Median Sold Price By Bedroom Count

# BEDSFeb 2023Feb 2024CHANGE
1 $76.4K$109K
+42.6%
2 $145.8K$171K
+17.2%
3 $252K$250K
-0.8%
4 $297K$320K
+7.7%
5+ $465K$341K
-26.7%

Summary: Cherryville Township housing prices by bedroom type for February 2024 compared to the previous year: The home price of 1 bedroom homes increased by 42.6%, 2 bedroom homes increased by 17.2%, 3 bedroom homes decreased by 0.8%, 4 bedroom homes increased by 7.7%, and 5+ bedroom homes decreased by 26.7%.

Median Sold Price Compared To Nearby Cities

Cherryville
+10.1%
Bessemer City
+4.3%
Cherryville Township
+2.1%
Crowders Mountain Township
+1.1%
Crouse
-28.3%

Housing Supply in Cherryville Township, NC

How many homes are available in Cherryville Township, NC?

Number of Homes For Sale

Jan 2024Feb 2024CHANGE
7276+5.6%

Summary: The Cherryville Township real estate market had 76 homes for sale in February 2024, a 5.6% increase compared to January 2024.

Homes For Sale By Bedroom Count

# BEDSJan 2024Feb 2024CHANGE
1 33
0.0%
2 1012
+20.0%
3 4347
+9.3%
4 1412
-14.3%
5+ 22
0.0%

Summary: The Cherryville Township housing inventory by bedroom type for February 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes increased by 20%, 3 bedroom homes increased by 9.3%, 4 bedroom homes decreased by 14.3%, and 5+ bedroom homes remained the same.

Number of Homes Sold

Jan 2024Feb 2024CHANGE
167-56.3%

Asking Price vs. Sold Price

4 Homes Were Sold
Under Asking

2 Homes Were Sold
At Asking

1 Home Was Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Cherryville Township, you may be able to get a good deal. 57.1% of homes here sold below asking price last month.

Summary: A total of 7 homes were sold or pending in Cherryville Township in February 2024, down by 56.3% month-over-month. Of the 7 sold homes, 57% were sold under asking, 29% were sold at asking, and 14% were sold over asking.

Days on Market for Cherryville Township, NC

How long does it take to sell a home in Cherryville Township, NC?

Average Sale Time

Feb 2023Feb 2024CHANGE
51 Days47 Days-7.4%

Summary: Homes in Cherryville Township had an average of 47 days on market in Feb 2024, down by 7.4% compared to last year.

Breakdown of Home Sale Times

3 Homes Were Sold
Under 30 Days

2 Homes Were Sold
In 30 - 90 Days

2 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

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

Summary: During February 2024, 7 homes were sold in Cherryville Township; 43% of homes were sold within 30 days, 29% of homes were sold within 30 to 90 days, and 29% 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 27 Days Ago

Newest Listings in Cherryville Township, NC

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What housing markets are near Cherryville Township, NC?