Is Cherry Valley, IL 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, 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
$277,500
$132/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Summary: The median home sold price in Cherry Valley was $277,500 in May 2024, up 7% from last year, and the median price per square foot was $132.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $95K | $108.8K | +14.5% |
2 Bedrooms | $195K | $173.4K | -11.1% |
3 Bedrooms | $250K | $280K | +12.0% |
4 Bedrooms | $290K | $328K | +13.1% |
5+ Bedrooms | $359K | $450K | +25.3% |
Summary: Cherry Valley housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes increased by 14.5%, 2 bedroom homes decreased by 11.1%, 3 bedroom homes increased by 12%, 4 bedroom homes increased by 13.1%, and 5+ bedroom homes increased by 25.3%.
Median Sold Price Compared To Nearby Cities
Rockford | $129.9K | $154.3K | +18.8% |
Rockford Township | $132.1K | $153.5K | +16.1% |
Cherry Valley Township | $200.2K | $215K | +7.4% |
Cherry Valley | $259.2K | $277.5K | +7.0% |
Flora Township | $135K | $115K | -14.8% |
Housing Supply in Cherry Valley, IL
How many homes are available in Cherry Valley, IL?
Number of Homes For Sale
Apr 2024 | May 2024 | CHANGE |
---|---|---|
7 | 6 | -14.3% |
Summary: The Cherry Valley real estate market had 6 homes for sale in May 2024, a 14.3% decrease 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 | 0 | 0 | 0.0% |
3 Bedrooms | 5 | 5 | 0.0% |
4 Bedrooms | 2 | 1 | -50.0% |
5+ Bedrooms | 0 | 0 | 0.0% |
Summary: The Cherry Valley 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 decreased by 50%, and 5+ bedroom homes remained the same.
Number of Homes Sold
Apr 2024 | May 2024 | CHANGE |
---|---|---|
3 | 3 | 0.0% |
Asking Price vs. Sold Price
0 Homes Were Sold
Under Asking
1 Home Was Sold
At Asking
2 Homes Were Sold
Over Asking
Summary: A total of 3 homes were sold or pending in Cherry Valley in May 2024, the same as the previous month. Of the 3 sold homes, 0% were sold under asking, 33% 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
May 2023 | May 2024 | CHANGE |
---|---|---|
4 Days | 7 Days | +75.0% |
Summary: Homes in Cherry Valley had an average of 7 days on market in May 2024, up by 75% compared to last year.
Breakdown of Home Sale Times
3 Homes Were Sold
Under 30 Days
0 Homes Were Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Summary: During May 2024, 3 homes were sold in Cherry Valley; 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.