Cherry Valley, IL
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




Highest
Lowest

Highest Appreciating Cherry Valley Neighborhoods Since 2000




Cherry Valley, IL Real Estate Data

Source & Methodology

Analytics built by:   Location, Inc.

Raw data sources:   American Community Survey (U.S. Census Bureau), U.S. Department of Housing and Urban Development, Federal Housing Finance Agency.

Date(s) & Update Frequency:
  • Home Values, Rents: Reflects Q1 2017. Updated quarterly.
  • Setting, Housing Stock, Homeownership: 2015 (latest available). Updated annually.

Methodology:   NeighborhoodScout uses over 600 characteristics to build a neighborhood profile… Read more

Cherry Valley Housing Market Information

With 3,098 people, 1,368 houses or apartments, and a median cost of homes of $155,855, Cherry Valley real estate and house prices are near the national average for all cities and towns.

Single-family detached homes are the single most common housing type in Cherry Valley, accounting for 69.49% of the village's housing units. Other types of housing that are prevalent in Cherry Valley include large apartment complexes or high rise apartments ( 18.48%), row houses and other attached homes ( 9.28%), and a few duplexes, homes converted to apartments or other small apartment buildings ( 1.88%).

Owner-occupied, three and four bedroom dwellings, primarily in single-family detached homes are the most prevalent type of housing you will see in Cherry Valley. Owner-occupied housing accounts for 69.23% of Cherry Valley's homes, and 62.10% have either three or four bedrooms, which is average sized relative to America.

There is a lot of housing in Cherry Valley built from 1970 to 1999 so parts of town may have that "Brady Bunch" look of homes popular in the '70s and early '80s, although some of these houses were built up through the early '90s as well. There is also a lot of housing in Cherry Valley built between 2000 and later ( 34.20%). A lesser amount of the housing stock also hails from between 1940-1969 ( 11.09%). There's also some housing in Cherry Valley built before 1939 ( 8.77%).

Cherry Valley Home Appreciation Rates

Homes have actually lost value in Cherry Valley over the last then years, as home values have seen a decline of 23.92% during the ten year period. In the latest quarter, NeighborhoodScout appreciation rate data shows Cherry Valley home appreciation rates at -1.84%, which equates to an annual appreciation rate of -7.16%.

NeighborhoodScout's data show that during the latest twelve months, Cherry Valley's appreciation rate, at 3.29%, has been at or slightly above the national average. In the latest quarter, Cherry Valley's appreciation rate has been -1.84%, which annualizes to a rate of -7.16%.

Notably, Cherry Valley's appreciation rate in the latest quarter is one of the lowest in America.

Relative to Illinois, our data show that Cherry Valley's latest annual appreciation rate is higher than 60% of the other cities and towns in Illinois.

Average Home Values

 

Median Home Value:
$155,855

Cherry Valley, IL HOME PRICES

Value Range
> $991,000 0.8
$744,001 - $991,000 0.2
$496,001 - $744,000 0.7
$396,001 - $496,000 0.7
$297,001 - $396,000 3.7
$198,001 - $297,000 17.2
$99,001 - $198,000 61.5
$49,001 - $99,000 10.6
$0 - $49,000 4.8

High for IL
Average for Nation

Value Relative to Nation Value Relative to State
47.4803703269659 39.746835443038

Number Of Homes And Apartments:
1,368

Cherry Valley Appreciation Rates

 
Time Period Total Appreciation Avg. Annual Rate Compared To
IL*
Compared To
America*
Latest Quarter:
2016 Q4 - 2017 Q1
Last 12 Months:
2016 Q1 - 2017 Q1
Last 2 Years:
2015 Q1 - 2017 Q1
Last 5 Years:
2012 Q1 - 2017 Q1
Last 10 Years:
2007 Q1 - 2017 Q1
Since 2000:
2000 Q1 - 2017 Q1
-4.30% -0.25% 1 1
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$1,052 / per month

Homeownership Rate

Homeownership
Owners 69.23
Renters 30.77
Vacant 0.87

Housing Market Details

 

Age of Homes

AGE OF Cherry Valley HOMES
2000 or Newer 34.2
1970 - 1999 45.9
1940 - 1969 11.1
1939 or Older 8.8

Types of Homes

TYPE OF Cherry Valley HOMES
Single-Family 69.5
Townhomes 9.3
Small Apt. Buildings 1.9
Apt. Complexes 18.5
Mobile Homes 0.9
Other 0.0

Home Size

SIZE OF Cherry Valley HOMES
No Bedroom 5.07
1 Bedroom 8.70
2 Bedrooms 20.36
3 Bedrooms 41.59
4 Bedrooms 20.51
5 or more bedrooms 3.77