The housing market in Cherokee continues to see strong price appreciation, with values up 174.1% compared to last year. Home prices have decreased 74.5% in the past month. With 4 active listings, inventory is 300% higher than seasonal norms. Homes are taking about 82 days to sell, which is NaN days longer than this time last year. A significant 50.0% of listings experienced price reductions, indicating sellers may be adjusting to market realities. Only 0.0% of properties sold above asking price, giving buyers more negotiating power. Affordability remains a significant challenge in the Cherokee market with the affordability index at 289.6. Based on current market indicators, home prices in Cherokee are projected to decrease by approximately 7.2% over the next month.
Cherokee, AL has a total population of 947 residents. The area is predominantly White (64.2%), African American residents comprise 20.6% of the community. The area shows moderate demographic diversity. The small population size creates an intimate community atmosphere in Cherokee, AL.
Crime analysis for Cherokee, AL shows 138 total incidents across all categories. The most prevalent crime type is Assault (65.2% of all incidents). This is followed by Property Crime at 28.3%. The crime rate in Cherokee, AL is relatively low, with violent crimes being more common than property crimes. This suggests Cherokee, AL is generally a safe area for residents and visitors.
Market predictions for Cherokee, AL show an upward trend in home prices, with values increasing by 6.9%. This indicates a moderate but notable price trend. The current median home price in Cherokee, AL is approximately $36,695.957. Based on current trends, home prices in Cherokee, AL are expected to continue appreciating, making it an attractive market for sellers and long-term investors.
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