$3,557 Closing Credit*
$299,500
1,816 SqFt
Jonathan Bich, Listing Office: Coldwell Banker Tomlinson
Is Cheney, WA a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since September 2023
Since last year, Cheney has remained a Seller's Market.
Key Takeaway
Cheney is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Cheney, WA
How much do homes in Cheney, WA cost?
Median Sold Price
$420,000
$223/sqft
Based on all homes sold in the last 12 months.
The Median Sold Price hasn't changed since September 2023.
Key Takeaway
The sold price of homes in Cheney has remained the same since last year.
Summary: The median home sold price in Cheney was $420,000 in September 2024, the same as last year, and the median price per square foot was $223.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Sep 2023 | Sep 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | - | N/A |
| 2 Bedrooms | $257.5K | $338K | +31.3% |
| 3 Bedrooms | $394.9K | $385K | -2.5% |
| 4 Bedrooms | $457K | $450K | -1.5% |
| 5+ Bedrooms | $480K | $439.9K | -8.4% |
Summary: Cheney housing prices by bedroom type for September 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes increased by 31.3%, 3 bedroom homes decreased by 2.5%, 4 bedroom homes decreased by 1.5%, and 5+ bedroom homes decreased by 8.4%.
Median Sold Price Compared To Nearby Cities
| Cheney-Medical Lake | $400K | $401.4K | 0.4% |
| Cheney | $420K | $420K | 0.0% |
Housing Supply in Cheney, WA
How many homes are available in Cheney, WA?
Number of Homes For Sale
| Aug 2024 | Sep 2024 | CHANGE |
|---|---|---|
| 99 | 95 | -4.0% |
Summary: The Cheney real estate market had 95 homes for sale in September 2024, a 4.0% decrease compared to August 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Aug 2024 | Sep 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 3 | 3 | 0.0% |
| 2 Bedrooms | 3 | 3 | 0.0% |
| 3 Bedrooms | 44 | 38 | -13.6% |
| 4 Bedrooms | 35 | 38 | +8.6% |
| 5+ Bedrooms | 14 | 13 | -7.1% |
Summary: The Cheney housing inventory by bedroom type for September 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes remained the same, 3 bedroom homes decreased by 13.6%, 4 bedroom homes increased by 8.6%, and 5+ bedroom homes decreased by 7.1%.
Number of Homes Sold
| Aug 2024 | Sep 2024 | CHANGE |
|---|---|---|
| 29 | 20 | -31.0% |
Asking Price vs. Sold Price
7 Homes Were Sold
Under Asking
9 Homes Were Sold
At Asking
4 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Cheney, expect to pay close to the asking price. 45% of homes here sold near the asking price last month.
Summary: A total of 20 homes were sold or pending in Cheney in September 2024, down by 31.0% month-over-month. Of the 20 sold homes, 35% were sold under asking, 45% were sold at asking, and 20% were sold over asking.
Days on Market for Cheney, WA
How long does it take to sell a home in Cheney, WA?
Average Sale Time
| Sep 2023 | Sep 2024 | CHANGE |
|---|---|---|
| 34 Days | 34 Days | +1.4% |
Summary: Homes in Cheney had an average of 34 days on market in Sep 2024, up by 1.4% compared to last year.
Breakdown of Home Sale Times
13 Homes Were Sold
Under 30 Days
5 Homes Were Sold
In 30 - 90 Days
2 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Cheney are selling fast, if you're buying plan to act quickly.
Summary: During September 2024, 20 homes were sold in Cheney; 65% of homes were sold within 30 days, 25% of homes were sold within 30 to 90 days, and 10% of homes were sold over 90 days.
Listings courtesy of Spokane Association of REALTORS® MLS as distributed by MLS GRID.
The data relating to real estate for sale on this website comes in part from the Internet Data Exchange program of Northwest MLS IDX. Real estate listings held by other brokerage firms are marked with the green "three trees" logo and includes the name of the listing broker(s). Copyright © 2024 Northwest MLS. All rights reserved.