Is Cherokee, AL 35616 a buyer’s or seller’s market?
Cherokee is a buyer’s market. With about 6.7 months of supply, buyers usually have more time and more room to negotiate on price and terms.
The Cherokee housing market right now
In the three months ending August 31, 2026, 0% of homes in Cherokee, AL 35616 sold above their list price, the typical home went under contract in 45 days and there were 6.7 months of supply. More than six months of supply favors buyers, who usually have more time and more room to negotiate. That’s based on 10 home sales.
Compared with the same period a year earlier, the share selling over asking was about the same (0% then), homes sold faster (120 days then) and the median sale price fell 20% to $196,115. Overall, Cherokee is more competitive than a year ago, so tougher for buyers.
Within Colbert County, homes here sell faster than in 50% of the county’s ZIP codes, and sell less often over asking than in any other ZIP code in the county.
Nearby, Sheffield 35660 (16% sold over asking) and Muscle Shoals 35661 (11% sold over asking) are even more competitive.
Run the numbers for 35616
Nearby markets
Leighton 35646Seller’s market $136 /sq ftMuscle Shoals 35661Balanced $164 /sq ftSheffield 35660Balanced $113 /sq ftTuscumbia 35674Balanced $146 /sq ft Browse all markets →Towns like Cherokee nearby
Find towns like Cherokee in other states →Where Cherokee is
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Questions about Cherokee real estate
Is Cherokee a buyer’s or seller’s market?
A buyer’s market: there were 6.7 months of supply in Cherokee, AL 35616 in the three months ending August 31, 2026. Under four months usually favors sellers, and more than six favors buyers.
How fast do homes sell in Cherokee?
The typical home went under contract in 45 days in the latest three months.
Do homes in Cherokee sell over asking?
0% of homes sold above their original list price, and the typical sale closed at 90.2% of the list price.
What are property taxes in Cherokee?
About 0.40% of a home’s value a year in Colbert County, or roughly $1,600 on a $400,000 home.
What is the median home price in Cherokee?
The median sale price was $196,115 in the three months ending August 31, 2026, about $106 per square foot.
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Market data describes housing activity only. Figures are rolling 3-month values from Redfin and may be revised. Methodology