Is Cherry Valley Township, IL a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since May 2023
Since last year, Cherry Valley Township has remained a Seller's Market.
Housing Prices in Cherry Valley Township, IL
How much do homes in Cherry Valley Township, IL cost?
Median Sold Price
$215,000
$127/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Summary: The median home sold price in Cherry Valley Township was $215,000 in May 2024, up 7.4% from last year, and the median price per square foot was $127.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $95K | $122K | +28.4% |
2 Bedrooms | $152K | $165.9K | +9.2% |
3 Bedrooms | $198.5K | $216K | +8.8% |
4 Bedrooms | $263.2K | $272K | +3.3% |
5+ Bedrooms | $359K | $352.5K | -1.8% |
Summary: Cherry Valley Township housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes increased by 28.4%, 2 bedroom homes increased by 9.2%, 3 bedroom homes increased by 8.8%, 4 bedroom homes increased by 3.3%, and 5+ bedroom homes decreased by 1.8%.
Median Sold Price Compared To Nearby Cities
Rockford | $129.9K | $154.3K | +18.8% |
Rockford Township | $132.1K | $153.5K | +16.1% |
Cherry Valley Township | $200.2K | $215K | +7.4% |
Cherry Valley | $259.2K | $277.5K | +7.0% |
Housing Supply in Cherry Valley Township, IL
How many homes are available in Cherry Valley Township, IL?
Number of Homes For Sale
Apr 2024 | May 2024 | CHANGE |
---|---|---|
26 | 27 | +3.8% |
Summary: The Cherry Valley Township real estate market had 27 homes for sale in May 2024, a 3.8% increase compared to April 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 0 | 0 | 0.0% |
2 Bedrooms | 1 | 2 | +100.0% |
3 Bedrooms | 16 | 20 | +25.0% |
4 Bedrooms | 8 | 5 | -37.5% |
5+ Bedrooms | 1 | 0 | -100.0% |
Summary: The Cherry Valley Township housing inventory by bedroom type for May 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes increased by 100%, 3 bedroom homes increased by 25%, 4 bedroom homes decreased by 37.5%, and 5+ bedroom homes decreased by 100%.
Number of Homes Sold
Apr 2024 | May 2024 | CHANGE |
---|---|---|
10 | 9 | -10.0% |
Asking Price vs. Sold Price
3 Homes Were Sold
Under Asking
3 Homes Were Sold
At Asking
3 Homes Were Sold
Over Asking
Summary: A total of 9 homes were sold or pending in Cherry Valley Township in May 2024, down by 10.0% month-over-month. Of the 9 sold homes, 33% were sold under asking, 33% were sold at asking, and 33% were sold over asking.
Days on Market for Cherry Valley Township, IL
How long does it take to sell a home in Cherry Valley Township, IL?
Average Sale Time
May 2023 | May 2024 | CHANGE |
---|---|---|
3 Days | 12 Days | +240.7% |
Summary: Homes in Cherry Valley Township had an average of 12 days on market in May 2024, up by 240.7% compared to last year.
Breakdown of Home Sale Times
8 Homes Were Sold
Under 30 Days
1 Home Was Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Summary: During May 2024, 9 homes were sold in Cherry Valley Township; 89% of homes were sold within 30 days, 11% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.