Is Cheeks Township, NC a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since May 2023
Since last year, Cheeks Township has remained a Seller's Market.
Key Takeaway
Cheeks Township is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Cheeks Township, NC
How much do homes in Cheeks Township, NC cost?
Median Sold Price
$375,000
$187/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Key Takeaway
The sold price of homes in Cheeks Township has remained the same since last year.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | - | N/A |
| 2 Bedrooms | $298K | $315K | +5.7% |
| 3 Bedrooms | $351.4K | $360K | +2.4% |
| 4 Bedrooms | $395.7K | $391.9K | -0.9% |
| 5+ Bedrooms | $404.9K | $407.9K | +0.8% |
Summary: Cheeks Township housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes increased by 5.7%, 3 bedroom homes increased by 2.4%, 4 bedroom homes decreased by 0.9%, and 5+ bedroom homes increased by 0.8%.
Median Sold Price Compared To Nearby Cities
| Hillsborough Township | $435K | $494K | +13.6% |
| Cedar Grove Township | $444.2K | $464.5K | +4.6% |
| Mebane | $369.9K | $379.8K | +2.7% |
| Cheeks Township | $375.1K | $375K | 0% |
| Efland | $402.5K | $400K | -0.6% |
Housing Supply in Cheeks Township, NC
How many homes are available in Cheeks Township, NC?
Number of Homes For Sale
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 60 | 75 | +25.0% |
Summary: The Cheeks Township real estate market had 75 homes for sale in May 2024, a 25.0% increase compared to April 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 0 | 0 | 0.0% |
| 2 Bedrooms | 6 | 10 | +66.7% |
| 3 Bedrooms | 32 | 41 | +28.1% |
| 4 Bedrooms | 18 | 18 | 0.0% |
| 5+ Bedrooms | 4 | 6 | +50.0% |
Summary: The Cheeks Township housing inventory by bedroom type for May 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 increased by 28.1%, 4 bedroom homes remained the same, and 5+ bedroom homes increased by 50%.
Number of Homes Sold
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 9 | 16 | +77.8% |
Asking Price vs. Sold Price
5 Homes Were Sold
Under Asking
4 Homes Were Sold
At Asking
7 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Cheeks Township, you could pay more than the asking price. 43.8% of homes here sold above asking price last month.
Summary: A total of 16 homes were sold or pending in Cheeks Township in May 2024, up by 77.8% month-over-month. Of the 16 sold homes, 31% were sold under asking, 25% were sold at asking, and 44% were sold over asking.
Days on Market for Cheeks Township, NC
How long does it take to sell a home in Cheeks Township, NC?
Average Sale Time
| May 2023 | May 2024 | CHANGE |
|---|---|---|
| 85 Days | 19 Days | -77.6% |
Summary: Homes in Cheeks Township had an average of 19 days on market in May 2024, down by 77.6% compared to last year.
Breakdown of Home Sale Times
12 Homes Were Sold
Under 30 Days
3 Homes Were Sold
In 30 - 90 Days
1 Home Was Sold
Over 90 Days
Key Takeaway
Many homes in Cheeks Township are selling fast, if you're buying plan to act quickly.
Summary: During May 2024, 16 homes were sold in Cheeks Township; 75% of homes were sold within 30 days, 19% of homes were sold within 30 to 90 days, and 6% of homes were sold over 90 days.
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