Is Cherokee, IA 51012 a buyer’s or seller’s market?
Cherokee is a buyer’s market. With about 6.2 months of supply, buyers usually have more time and more room to negotiate on price and terms.
More competitive than 7% of U.S. ZIP codes, and #149 of 156 in the state.
Based on share sold above original list, sale-to-list ratio, months of supply and days on market for the 3 months ending August 31, 2026. See the breakdown
The Cherokee housing market right now
In the three months ending August 31, 2026, 7% of homes in Cherokee, IA 51012 sold above their list price, the typical home went under contract in 48 days and there were 6.2 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 15 home sales.
Compared with the same period a year earlier, the share selling over asking fell from 23%, homes sold more slowly (14 days then) and the median sale price rose 18% to $159,931. Overall, Cherokee is less competitive than a year ago, which gives buyers more room.
Within Cherokee County, homes here sell more slowly than in 60% of the county’s ZIP codes, and sell more often over asking than in any other ZIP code in the county. On our competition score, Cherokee ranks #149 of 156 IA ZIP codes with enough sales (score 14 out of 100).
Nearby, buyers who want less competition could look at Quimby 51049 (0% sold over asking) or Meriden 51037 (0% sold over asking).
Run the numbers for 51012
Nearby markets
Aurelia 51005Balanced $93 /sq ftCleghorn 51014 — /sq ftLarrabee 51029 $116 /sq ftMarcus 51035Seller’s market $109 /sq ft Browse all markets →Towns like Cherokee nearby
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Questions about Cherokee real estate
Is Cherokee a buyer’s or seller’s market?
A buyer’s market: there were 6.2 months of supply in Cherokee, IA 51012 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 48 days in the latest three months.
Do homes in Cherokee sell over asking?
7% of homes sold above their original list price, and the typical sale closed at 93.1% of the list price.
What are property taxes in Cherokee?
About 0.99% of a home’s value a year in Cherokee County, or roughly $3,960 on a $400,000 home.
What is the median home price in Cherokee?
The median sale price was $159,931 in the three months ending August 31, 2026, about $83 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