Is Cheney, WA 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, Cheney has remained a Seller's Market.
Housing Prices in Cheney, WA
How much do homes in Cheney, WA cost?
Median Sold Price
$429,995
$209/sqft
Based on all homes sold in the last 12 months.
Difference Since March 2023
Summary: The median home sold price in Cheney was $429,995 in March 2024, up 14.7% from last year, and the median price per square foot was $209.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | Mar 2023 | Mar 2024 | CHANGE |
---|---|---|---|
1 Bedroom | - | $35K | N/A |
2 Bedrooms | $253.6K | $260.2K | +2.6% |
3 Bedrooms | $373.9K | $391.9K | +4.8% |
4 Bedrooms | $392.5K | $460K | +17.2% |
5+ Bedrooms | $437.5K | $475K | +8.6% |
Summary: Cheney housing prices by bedroom type for March 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes increased by 2.6%, 3 bedroom homes increased by 4.8%, 4 bedroom homes increased by 17.2%, and 5+ bedroom homes increased by 8.6%.
Median Sold Price Compared To Nearby Cities
Amber-Cheney South | $555K | $637.5K | +14.9% |
Cheney | $375K | $429.9K | +14.7% |
Cheney-Medical Lake | $400K | $400K | 0.0% |
Housing Supply in Cheney, WA
How many homes are available in Cheney, WA?
Number of Homes For Sale
Feb 2024 | Mar 2024 | CHANGE |
---|---|---|
54 | 51 | -5.6% |
Summary: The Cheney real estate market had 51 homes for sale in March 2024, a 5.6% decrease compared to February 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Feb 2024 | Mar 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 0 | 0 | 0.0% |
2 Bedrooms | 7 | 5 | -28.6% |
3 Bedrooms | 16 | 18 | +12.5% |
4 Bedrooms | 20 | 15 | -25.0% |
5+ Bedrooms | 11 | 13 | +18.2% |
Summary: The Cheney housing inventory by bedroom type for March 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes decreased by 28.6%, 3 bedroom homes increased by 12.5%, 4 bedroom homes decreased by 25%, and 5+ bedroom homes increased by 18.2%.
Number of Homes Sold
Feb 2024 | Mar 2024 | CHANGE |
---|---|---|
11 | 10 | -9.1% |
Asking Price vs. Sold Price
3 Homes Were Sold
Under Asking
3 Homes Were Sold
At Asking
4 Homes Were Sold
Over Asking
Summary: A total of 10 homes were sold or pending in Cheney in March 2024, down by 9.1% month-over-month. Of the 10 sold homes, 30% were sold under asking, 30% were sold at asking, and 40% 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
Mar 2023 | Mar 2024 | CHANGE |
---|---|---|
75 Days | 21 Days | -71.2% |
Summary: Homes in Cheney had an average of 21 days on market in Mar 2024, down by 71.2% compared to last year.
Breakdown of Home Sale Times
7 Homes Were Sold
Under 30 Days
3 Homes Were Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Summary: During March 2024, 10 homes were sold in Cheney; 70% of homes were sold within 30 days, 30% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.