$4,988 Closing Credit*
$420,000
1,860 SqFt
4 Beds
•3 Baths
Ken Lewis, Listing Office: Berkshire Hathaway HomeService
Is Cheney, WA a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since November 2023
At the same time last year, Cheney was a Seller's Market.
Key Takeaway
Cheney is a Buyers Housing Market, which means prices tend to be lower and homes stay on the market longer.
Housing Prices in Cheney, WA
How much do homes in Cheney, WA cost?
Median Sold Price
$424,397
$224/sqft
Based on all homes sold in the last 12 months.
Difference Since November 2023
+$1,697(+0.4%)
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 $424,397 in November 2024, up 0.4% from last year, and the median price per square foot was $224.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Nov 2023 | Nov 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | $233K | N/A |
| 2 Bedrooms | $257.5K | $338K | +31.3% |
| 3 Bedrooms | $396.9K | $387.5K | -2.4% |
| 4 Bedrooms | $450K | $457.9K | +1.8% |
| 5+ Bedrooms | $465K | $465K | 0.0% |
Summary: Cheney housing prices by bedroom type for November 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes increased by 31.3%, 3 bedroom homes decreased by 2.4%, 4 bedroom homes increased by 1.8%, and 5+ bedroom homes did not change.
Median Sold Price Compared To Nearby Cities
| Cheney-Medical Lake | $400K | $405K | +1.3% |
| Cheney | $422.7K | $424.3K | 0.4% |
Housing Supply in Cheney, WA
How many homes are available in Cheney, WA?
Number of Homes For Sale
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 76 | 86 | +13.2% |
Summary: The Cheney real estate market had 86 homes for sale in November 2024, a 13.2% increase compared to October 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 3 | 3 | 0.0% |
| 2 Bedrooms | 4 | 6 | +50.0% |
| 3 Bedrooms | 30 | 33 | +10.0% |
| 4 Bedrooms | 28 | 29 | +3.6% |
| 5+ Bedrooms | 11 | 15 | +36.4% |
Summary: The Cheney housing inventory by bedroom type for November 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes increased by 50%, 3 bedroom homes increased by 10%, 4 bedroom homes increased by 3.6%, and 5+ bedroom homes increased by 36.4%.
Number of Homes Sold
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 13 | 12 | -7.7% |
Asking Price vs. Sold Price
7 Homes Were Sold
Under Asking
1 Home Was Sold
At Asking
4 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Cheney, you may be able to get a good deal. 58.3% of homes here sold below asking price last month.
Summary: A total of 12 homes were sold or pending in Cheney in November 2024, down by 7.7% month-over-month. Of the 12 sold homes, 58% were sold under asking, 8% were sold at asking, and 33% 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
| Nov 2023 | Nov 2024 | CHANGE |
|---|---|---|
| 39 Days | 39 Days | -0.5% |
Summary: Homes in Cheney had an average of 39 days on market in Nov 2024, down by 0.5% compared to last year.
Breakdown of Home Sale Times
7 Homes Were Sold
Under 30 Days
4 Homes Were Sold
In 30 - 90 Days
1 Home Was Sold
Over 90 Days
Key Takeaway
Many homes in Cheney are selling fast, if you're buying plan to act quickly.
Summary: During November 2024, 12 homes were sold in Cheney; 58% of homes were sold within 30 days, 33% of homes were sold within 30 to 90 days, and 8% 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.