Is Cherry, IL a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Cherry is a seller's market

Buyer's
Market

Difference Since May 2023

Since last year, Cherry has remained a Seller's Market.

Key Takeaway

Cherry is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.

Housing Prices in Cherry, IL

How much do homes in Cherry, IL cost?

Median Sold Price

$96,570

$96/sqft

Based on all homes sold in the last 12 months.

Difference Since May 2023

-$29,680(-23.5%)

Key Takeaway

Homes in Cherry have sold for 23.5% less than they did a year ago.

Summary: The median home sold price in Cherry was $96,570 in May 2024, down 23.5% from last year, and the median price per square foot was $96.

Median Sold Price By Bedroom Count

# BEDSMay 2023May 2024CHANGE
1 --
N/A
2 $95K-
N/A
3 $157.5K$96.5K
-38.7%
4 $225K-
N/A
5+ --
N/A

Summary: Cherry 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 did not change, 3 bedroom homes decreased by 38.7%, 4 bedroom homes did not change, and 5+ bedroom homes did not change.

Median Sold Price Compared To Nearby Cities

Westfield Township
-17.7%
Cherry
-23.5%

Housing Supply in Cherry, IL

How many homes are available in Cherry, IL?

Number of Homes For Sale

Apr 2024May 2024CHANGE
220.0%

Summary: The Cherry real estate market had 2 homes for sale in May 2024, the same as April 2024.

Homes For Sale By Bedroom Count

# BEDSApr 2024May 2024CHANGE
1 00
0.0%
2 00
0.0%
3 22
0.0%
4 00
0.0%
5+ 00
0.0%

Summary: The Cherry 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 remained the same, 3 bedroom homes remained the same, 4 bedroom homes remained the same, and 5+ bedroom homes remained the same.

Number of Homes Sold

Apr 2024May 2024CHANGE
01+100.0%

Asking Price vs. Sold Price

0 Homes Were Sold
Under Asking

1 Home Was Sold
At Asking

0 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Cherry, expect to pay close to the asking price. 100% of homes here sold near the asking price last month.

Summary: A total of 1 homes were sold or pending in Cherry in May 2024, up by 100.0% month-over-month. Of the 1 sold homes, 0% were sold under asking, 100% were sold at asking, and 0% were sold over asking.

Days on Market for Cherry, IL

How long does it take to sell a home in Cherry, IL?

Average Sale Time

May 2023May 2024CHANGE
8 Days14 Days+75.0%

Summary: Homes in Cherry had an average of 14 days on market in May 2024, up by 75% compared to last year.

Breakdown of Home Sale Times

1 Home Was Sold
Under 30 Days

0 Homes Were Sold
In 30 - 90 Days

0 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

Many homes in Cherry are selling fast, if you're buying plan to act quickly.

Summary: During May 2024, 1 homes were sold in Cherry; 100% of homes were sold within 30 days, 0% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.

Housing Market Reports are calculated by Rocket Homes Real Estate and based on information from the MLS.

Report Updated 1 Day Ago

Newest Listings in Cherry, IL

Nearby Markets to Cherry, IL