Is Cherryville, NC a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since April 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
$242,500
$164/sqft
Based on all homes sold in the last 12 months.
Difference Since April 2023
Key Takeaway
Homes in Cherryville have sold for 4.1% more than they did a year ago.
Summary: The median home sold price in Cherryville was $242,500 in April 2024, up 4.1% from last year, and the median price per square foot was $164.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $49.1K | $75K | +52.5% |
| 2 Bedrooms | $145K | $168K | +15.9% |
| 3 Bedrooms | $239.9K | $251.2K | +4.7% |
| 4 Bedrooms | $350.9K | $320K | -8.8% |
| 5+ Bedrooms | $397K | $350K | -11.8% |
Summary: Cherryville housing prices by bedroom type for April 2024 compared to the previous year: The home price of 1 bedroom homes increased by 52.5%, 2 bedroom homes increased by 15.9%, 3 bedroom homes increased by 4.7%, 4 bedroom homes decreased by 8.8%, and 5+ bedroom homes decreased by 11.8%.
Median Sold Price Compared To Nearby Cities
| Cherryville | $233K | $242.5K | +4.1% |
| Cherryville Township | $247K | $240K | -2.8% |
| Crouse | $349.9K | $250K | -28.6% |
Housing Supply in Cherryville, NC
How many homes are available in Cherryville, NC?
Number of Homes For Sale
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 62 | 65 | +4.8% |
Summary: The Cherryville real estate market had 65 homes for sale in April 2024, a 4.8% increase compared to March 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 1 | 2 | +100.0% |
| 2 Bedrooms | 12 | 11 | -8.3% |
| 3 Bedrooms | 37 | 41 | +10.8% |
| 4 Bedrooms | 10 | 8 | -20.0% |
| 5+ Bedrooms | 2 | 3 | +50.0% |
Summary: The Cherryville housing inventory by bedroom type for April 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 100%, 2 bedroom homes decreased by 8.3%, 3 bedroom homes increased by 10.8%, 4 bedroom homes decreased by 20%, and 5+ bedroom homes increased by 50%.
Number of Homes Sold
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 12 | 16 | +33.3% |
Asking Price vs. Sold Price
11 Homes Were Sold
Under Asking
2 Homes Were Sold
At Asking
3 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Cherryville, you may be able to get a good deal. 68.8% of homes here sold below asking price last month.
Summary: A total of 16 homes were sold or pending in Cherryville in April 2024, up by 33.3% month-over-month. Of the 16 sold homes, 69% were sold under asking, 13% were sold at asking, and 19% 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
| Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|
| 83 Days | 84 Days | +1.2% |
Summary: Homes in Cherryville had an average of 84 days on market in Apr 2024, up by 1.2% compared to last year.
Breakdown of Home Sale Times
6 Homes Were Sold
Under 30 Days
5 Homes Were Sold
In 30 - 90 Days
5 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 April 2024, 16 homes were sold in Cherryville; 38% of homes were sold within 30 days, 31% of homes were sold within 30 to 90 days, and 31% of homes were sold over 90 days.
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