$5,225 Closing Credit*
$440,000
1,816 SqFt
3 Beds
•2 Baths
Craig Hudkins, Listing Office: REAL Broker LLC
Is Cheney, WA a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since October 2023
At the same time last year, Cheney was a Seller's Market.
Key Takeaway
Cheney is a Neutral Housing Market, which means prices tend to be reasonable and homes stay on the market for a typical length of time.
Housing Prices in Cheney, WA
How much do homes in Cheney, WA cost?
Median Sold Price
$420,690
$224/sqft
Based on all homes sold in the last 12 months.
Difference Since October 2023
+$690(+0.2%)
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 $420,690 in October 2024, up 0.2% from last year, and the median price per square foot was $224.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | - | N/A |
| 2 Bedrooms | $257.5K | $341.2K | +32.5% |
| 3 Bedrooms | $394.9K | $386.9K | -2.0% |
| 4 Bedrooms | $450K | $452.5K | +0.6% |
| 5+ Bedrooms | $480K | $452.4K | -5.7% |
Summary: Cheney 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 32.5%, 3 bedroom homes decreased by 2%, 4 bedroom homes increased by 0.6%, and 5+ bedroom homes decreased by 5.7%.
Median Sold Price Compared To Nearby Cities
| Cheney-Medical Lake | $400K | $404.9K | +1.2% |
| Cheney | $420K | $420.6K | 0.2% |
Housing Supply in Cheney, WA
How many homes are available in Cheney, WA?
Number of Homes For Sale
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 86 | 91 | +5.8% |
Summary: The Cheney real estate market had 91 homes for sale in October 2024, a 5.8% increase compared to September 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 3 | 3 | 0.0% |
| 2 Bedrooms | 3 | 5 | +66.7% |
| 3 Bedrooms | 37 | 35 | -5.4% |
| 4 Bedrooms | 32 | 32 | 0.0% |
| 5+ Bedrooms | 11 | 16 | +45.5% |
Summary: The Cheney 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 increased by 66.7%, 3 bedroom homes decreased by 5.4%, 4 bedroom homes remained the same, and 5+ bedroom homes increased by 45.5%.
Number of Homes Sold
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 22 | 13 | -40.9% |
Asking Price vs. Sold Price
4 Homes Were Sold
Under Asking
6 Homes Were Sold
At Asking
3 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Cheney, expect to pay close to the asking price. 46.2% of homes here sold near the asking price last month.
Summary: A total of 13 homes were sold or pending in Cheney in October 2024, down by 40.9% month-over-month. Of the 13 sold homes, 31% were sold under asking, 46% were sold at asking, and 23% 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
| Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|
| 35 Days | 50 Days | +44.4% |
Summary: Homes in Cheney had an average of 50 days on market in Oct 2024, up by 44.4% compared to last year.
Breakdown of Home Sale Times
7 Homes Were Sold
Under 30 Days
3 Homes Were Sold
In 30 - 90 Days
3 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 October 2024, 13 homes were sold in Cheney; 54% of homes were sold within 30 days, 23% of homes were sold within 30 to 90 days, and 23% 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.