Is Cheney, WA 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, Cheney has remained a Seller's Market.
Key Takeaway
Cheney is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Cheney, WA
How much do homes in Cheney, WA cost?
Median Sold Price
$429,622
$209/sqft
Based on all homes sold in the last 12 months.
Difference Since April 2023
Key Takeaway
Homes in Cheney have sold for 11.6% more than they did a year ago.
Summary: The median home sold price in Cheney was $429,622 in April 2024, up 11.6% from last year, and the median price per square foot was $209.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | - | N/A |
| 2 Bedrooms | $253.6K | $263K | +3.7% |
| 3 Bedrooms | $382.3K | $385K | +0.7% |
| 4 Bedrooms | $397.5K | $459.9K | +15.7% |
| 5+ Bedrooms | $437.5K | $485K | +10.9% |
Summary: Cheney housing prices by bedroom type for April 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes increased by 3.7%, 3 bedroom homes increased by 0.7%, 4 bedroom homes increased by 15.7%, and 5+ bedroom homes increased by 10.9%.
Median Sold Price Compared To Nearby Cities
| Amber-Cheney South | $552.5K | $666.5K | +20.6% |
| Cheney | $384.9K | $429.6K | +11.6% |
| Cheney-Medical Lake | $400K | $395.5K | -1.1% |
Housing Supply in Cheney, WA
How many homes are available in Cheney, WA?
Number of Homes For Sale
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 53 | 71 | +34.0% |
Summary: The Cheney real estate market had 71 homes for sale in April 2024, a 34.0% increase compared to March 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 0 | 0 | 0.0% |
| 2 Bedrooms | 6 | 4 | -33.3% |
| 3 Bedrooms | 17 | 27 | +58.8% |
| 4 Bedrooms | 16 | 23 | +43.8% |
| 5+ Bedrooms | 14 | 17 | +21.4% |
Summary: The Cheney housing inventory by bedroom type for April 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes decreased by 33.3%, 3 bedroom homes increased by 58.8%, 4 bedroom homes increased by 43.8%, and 5+ bedroom homes increased by 21.4%.
Number of Homes Sold
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 13 | 14 | +7.7% |
Asking Price vs. Sold Price
6 Homes Were Sold
Under Asking
7 Homes Were Sold
At Asking
1 Home Was Sold
Over Asking
Key Takeaway
If you're buying a home in Cheney, expect to pay close to the asking price. 50% of homes here sold near the asking price last month.
Summary: A total of 14 homes were sold or pending in Cheney in April 2024, up by 7.7% month-over-month. Of the 14 sold homes, 43% were sold under asking, 50% were sold at asking, and 7% 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
| Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|
| 53 Days | 17 Days | -67.2% |
Summary: Homes in Cheney had an average of 17 days on market in Apr 2024, down by 67.2% compared to last year.
Breakdown of Home Sale Times
11 Homes Were Sold
Under 30 Days
3 Homes Were Sold
In 30 - 90 Days
0 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 April 2024, 14 homes were sold in Cheney; 79% of homes were sold within 30 days, 21% of homes were sold within 30 to 90 days, and 0% 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.