Is Cherrywood / French Place, TX a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Cherrywood / French Place is a buyer's market

Buyer's
Market

Difference Since October 2023

At the same time last year, Cherrywood / French Place was a Seller's Market.

Key Takeaway

Cherrywood / French Place is a Buyers Housing Market, which means prices tend to be lower and homes stay on the market longer.

Housing Prices in Cherrywood / French Place, TX

How much do homes in Cherrywood / French Place, TX cost?

Median Sold Price

$660,000

$482/sqft

Based on all homes sold in the last 12 months.

Difference Since October 2023

-$100,000(-13.2%)

Key Takeaway

Homes in Cherrywood / French Place have sold for 13.2% less than they did a year ago.

Summary: The median home sold price in Cherrywood / French Place was $660,000 in October 2024, down 13.2% from last year, and the median price per square foot was $482.

Median Sold Price By Bedroom Count

# BEDSOct 2023Oct 2024CHANGE
1 -$425K
N/A
2 $525K$560K
+6.7%
3 $765K$787.5K
+2.9%
4 $985K$950K
-3.6%
5+ -$1.2M
N/A

Summary: Cherrywood / French Place housing prices by bedroom type for October 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes increased by 6.7%, 3 bedroom homes increased by 2.9%, 4 bedroom homes decreased by 3.6%, and 5+ bedroom homes did not change.

Housing Supply in Cherrywood / French Place, TX

How many homes are available in Cherrywood / French Place, TX?

Number of Homes For Sale

Sep 2024Oct 2024CHANGE
2426+8.3%

Summary: The Cherrywood / French Place real estate market had 26 homes for sale in October 2024, a 8.3% increase compared to September 2024.

Homes For Sale By Bedroom Count

# BEDSSep 2024Oct 2024CHANGE
1 00
0.0%
2 98
-11.1%
3 78
+14.3%
4 68
+33.3%
5+ 22
0.0%

Summary: The Cherrywood / French Place housing inventory by bedroom type for October 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes decreased by 11.1%, 3 bedroom homes increased by 14.3%, 4 bedroom homes increased by 33.3%, and 5+ bedroom homes remained the same.

Number of Homes Sold

Sep 2024Oct 2024CHANGE
330.0%

Asking Price vs. Sold Price

3 Homes Were Sold
Under Asking

0 Homes Were Sold
At Asking

0 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Cherrywood / French Place, you may be able to get a good deal. 100% of homes here sold below asking price last month.

Summary: A total of 3 homes were sold or pending in Cherrywood / French Place in October 2024, the same as the previous month. Of the 3 sold homes, 100% were sold under asking, 0% were sold at asking, and 0% were sold over asking.

Days on Market for Cherrywood / French Place, TX

How long does it take to sell a home in Cherrywood / French Place, TX?

Average Sale Time

Oct 2023Oct 2024CHANGE
119 Days59 Days-50.0%

Summary: Homes in Cherrywood / French Place had an average of 59 days on market in Oct 2024, down by 50% compared to last year.

Breakdown of Home Sale Times

2 Homes Were Sold
Under 30 Days

0 Homes Were Sold
In 30 - 90 Days

1 Home Was Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

Many homes in Cherrywood / French Place are selling fast, if you're buying plan to act quickly.

Summary: During October 2024, 3 homes were sold in Cherrywood / French Place; 67% of homes were sold within 30 days, 0% of homes were sold within 30 to 90 days, and 33% 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 21 Days Ago

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