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 seller's market

Buyer's
Market

Difference Since March 2023

Since last year, Cherryville Township has remained a Seller's Market.

Key Takeaway

Cherryville Township is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.

Housing Prices in Cherryville Township, NC

How much do homes in Cherryville Township, NC cost?

Median Sold Price

$242,500

$163/sqft

Based on all homes sold in the last 12 months.

Difference Since March 2023

+$2,500(+1.0%)

Key Takeaway

Homes in Cherryville Township have sold for 1% more than they did a year ago.

Summary: The median home sold price in Cherryville Township was $242,500 in March 2024, up 1% from last year, and the median price per square foot was $163.

Median Sold Price By Bedroom Count

# BEDSMar 2023Mar 2024CHANGE
1 $62.8K$109K
+73.3%
2 $150K$175K
+16.7%
3 $251K$250K
-0.4%
4 $321K$310K
-3.4%
5+ $465K$352K
-24.3%

Summary: Cherryville Township housing prices by bedroom type for March 2024 compared to the previous year: The home price of 1 bedroom homes increased by 73.3%, 2 bedroom homes increased by 16.7%, 3 bedroom homes decreased by 0.4%, 4 bedroom homes decreased by 3.4%, and 5+ bedroom homes decreased by 24.3%.

Median Sold Price Compared To Nearby Cities

Cherryville
+6.4%
Bessemer City
+4.3%
Crowders Mountain Township
+2.0%
Cherryville Township
+1.0%
Crouse
-29.6%

Housing Supply in Cherryville Township, NC

How many homes are available in Cherryville Township, NC?

Number of Homes For Sale

Feb 2024Mar 2024CHANGE
6984+21.7%

Summary: The Cherryville Township real estate market had 84 homes for sale in March 2024, a 21.7% increase compared to February 2024.

Homes For Sale By Bedroom Count

# BEDSFeb 2024Mar 2024CHANGE
1 21
-50.0%
2 1215
+25.0%
3 4253
+26.2%
4 1013
+30.0%
5+ 32
-33.3%

Summary: The Cherryville Township 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 25%, 3 bedroom homes increased by 26.2%, 4 bedroom homes increased by 30%, and 5+ bedroom homes decreased by 33.3%.

Number of Homes Sold

Feb 2024Mar 2024CHANGE
816+100.0%

Asking Price vs. Sold Price

9 Homes Were Sold
Under Asking

1 Home Was Sold
At Asking

6 Homes Were 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. 56.3% of homes here sold below asking price last month.

Summary: A total of 16 homes were sold or pending in Cherryville Township in March 2024, up by 100.0% month-over-month. Of the 16 sold homes, 56% were sold under asking, 6% were sold at asking, and 38% 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

Mar 2023Mar 2024CHANGE
94 Days63 Days-33.4%

Summary: Homes in Cherryville Township had an average of 63 days on market in Mar 2024, down by 33.4% compared to last year.

Breakdown of Home Sale Times

7 Homes Were Sold
Under 30 Days

5 Homes Were Sold
In 30 - 90 Days

4 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 March 2024, 16 homes were sold in Cherryville Township; 44% of homes were sold within 30 days, 31% of homes were sold within 30 to 90 days, and 25% 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 20 Days Ago

Newest Listings in Cherryville Township, NC

Nearby Markets to Cherryville Township, NC

What housing markets are near Cherryville Township, NC?