Is Cherry Valley, IL 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, Cherry Valley has remained a Seller's Market.
Housing Prices in Cherry Valley, IL
How much do homes in Cherry Valley, IL cost?
Median Sold Price
$277,000
$129/sqft
Based on all homes sold in the last 12 months.
Difference Since April 2023
Summary: The median home sold price in Cherry Valley was $277,000 in April 2024, up 8.9% from last year, and the median price per square foot was $129.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | Apr 2023 | Apr 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $95K | $108.8K | +14.5% |
2 Bedrooms | $187K | $174.9K | -6.5% |
3 Bedrooms | $257K | $279K | +8.6% |
4 Bedrooms | $280K | $306K | +9.3% |
5+ Bedrooms | $239.5K | $450K | +87.9% |
Summary: Cherry Valley housing prices by bedroom type for April 2024 compared to the previous year: The home price of 1 bedroom homes increased by 14.5%, 2 bedroom homes decreased by 6.5%, 3 bedroom homes increased by 8.6%, 4 bedroom homes increased by 9.3%, and 5+ bedroom homes increased by 87.9%.
Median Sold Price Compared To Nearby Cities
Rockford | $127K | $153.1K | +20.6% |
Rockford Township | $130K | $151.6K | +16.7% |
Cherry Valley | $254.2K | $277K | +8.9% |
Cherry Valley Township | $200K | $210K | +5.0% |
Flora Township | $128.5K | $119.5K | -7.0% |
Housing Supply in Cherry Valley, IL
How many homes are available in Cherry Valley, IL?
Number of Homes For Sale
Mar 2024 | Apr 2024 | CHANGE |
---|---|---|
8 | 6 | -25.0% |
Summary: The Cherry Valley real estate market had 6 homes for sale in April 2024, a 25.0% decrease 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 | 2 | 0 | -100.0% |
3 Bedrooms | 5 | 4 | -20.0% |
4 Bedrooms | 1 | 2 | +100.0% |
5+ Bedrooms | 0 | 0 | 0.0% |
Summary: The Cherry Valley 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 100%, 3 bedroom homes decreased by 20%, 4 bedroom homes increased by 100%, and 5+ bedroom homes remained the same.
Number of Homes Sold
Mar 2024 | Apr 2024 | CHANGE |
---|---|---|
3 | 3 | 0.0% |
Asking Price vs. Sold Price
1 Home Was Sold
Under Asking
0 Homes Were Sold
At Asking
2 Homes Were Sold
Over Asking
Summary: A total of 3 homes were sold or pending in Cherry Valley in April 2024, the same as the previous month. Of the 3 sold homes, 33% were sold under asking, 0% were sold at asking, and 67% were sold over asking.
Days on Market for Cherry Valley, IL
How long does it take to sell a home in Cherry Valley, IL?
Average Sale Time
Apr 2023 | Apr 2024 | CHANGE |
---|---|---|
15 Days | 21 Days | +39.8% |
Summary: Homes in Cherry Valley had an average of 21 days on market in Apr 2024, up by 39.8% compared to last year.
Breakdown of Home Sale Times
2 Homes Were Sold
Under 30 Days
1 Home Was Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Summary: During April 2024, 3 homes were sold in Cherry Valley; 67% of homes were sold within 30 days, 33% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.