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Featured local agent — Cheney, WA
Sarah Mitchell
Compass Real Estate · Cheney, WA
“Your trusted relocation specialist since 2009. 350+ homes sold. Zero-pressure, data-first approach.”
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Cheney, WA Housing Market & Real Estate
Housing market overview · Updated monthly ·
$386,825median sale price
How is the Cheney, WA housing market right now?
The median home sale price in Cheney, WA is $386,825, down 2.1% year-over-year. Homes sell in an average of 61 days with 23 active listings. The market is currently a seller's market. (Source: Redfin monthly MLS data, as of May 2026 — the most recent Redfin release; Redfin publishes each month's data on a ~6-week lag.)
Is Cheney a buyer's or seller's market?
Cheney, WA is currently a seller's market, based on 1.3 months of supply and homes selling in about 61 days. How we determine this →
Homes sold
18
Last 12 weeks
Days on market
61
Average pace
Active listings
23
1.3 months supply
Sale-to-list
100.4%
Above asking
What does the Cheney housing market data show?
| Metric | Value |
|---|---|
| Median sale price | $386,825 |
| Median list price | $422,500 |
| Year-over-year price change | -2.1% |
| Average days on market | 61 days |
| Active inventory | 23 listings |
| Months of supply | 1.3 months |
| Sale-to-list price ratio | 100.4% |
| Median price per sq ft | $228/sq ft |
| Homes sold (latest month) | 18 |
| New listings (latest month) | 14 |
| Listings with a price cut | 30.4% |
| Market condition | Seller's market |
Source: Redfin · Updated monthly
How much do homes cost in Cheney by property type?
How the Cheney, WA market breaks down across single-family homes, condos, and townhouses.
| Property type | Median price | Price / sq ft | Homes sold | Days on market |
|---|---|---|---|---|
| Single-family | $386,825 | $228/sq ft | 18 | 61 days |
| Condo / Co-op | $205,000 | $213/sq ft | 1 | 182 days |
Source: Redfin · Updated monthly
The Cheney housing market is currently classified as a seller's market with a median sale price of $386,825. Prices have fallen 2.1% compared to last year, with homes spending an average of 61 days on market, indicating 1.3 months of inventory.With limited inventory, homes sell quickly and buyers should be prepared to act decisively and competitively to secure a property.The price-to-income ratio of 9.0x provides context for how home values compare to local earning capacity.
Homes for sale in Cheney
There are currently 23 homes listed for sale in Cheney, Washington. The median listing price is $423K.
Active listings
23
Homes on market
Median list price
$423K
Avg. days on market
61
Days until sale
New this week
14
Newly listed
Who lives in Cheney?
Population
12,830
Median income
$47,039/yr
Median age
23.9 years
Owner-occupied
31.0%
College grads
36.8%
Avg commute
24.3 min
Source: U.S. Census Bureau ACS
What are homes worth in Cheney?
Zillow home value
$423,645
Zillow rent index
$1,451/mo
Price-to-rent ratio
24.3x
Price-to-income
9.0x
Source: Zillow Research
What is it like to live in Cheney?
Cheney is a community of approximately 13K residents with a median age of 23.9 years.The median household income is $47,039, which represents a working-class community with solid middle-income opportunities. 36.8% of residents hold a bachelor's degree or higher, indicating a highly educated population.
Homeownership rates are at 31.0%, showing a blend of owner and renter-occupied properties. The average commute time is 24.3 minutes, which makes this an excellent choice for those seeking short commutes to employment centers.Overall, Cheney offers a balanced lifestyle with accessible home values relative to local income levels.
Which public schools serve Cheney?
9 schools tracked · 3,751 students
The largest public schools serving Cheney, WA by enrollment, drawn from the National Center for Education Statistics. School quality is a commonly cited factor in home-buying decisions — these are the campuses families in this area are most likely to encounter.
Cheney High School
Grades 9-12 · 1,488 students
Cheney Middle School
Grades 6-8 · 606 students
Phil Snowdon Elementary
Grades PK-5 · 545 students
Betz Elementary
Grades PK-5 · 531 students
Salnave Elementary
Grades PK-5 · 350 students
HomeWorks
Grades K-12 · 133 students
Three Springs High School
Grades 9-12 · 91 students
Cheney Open Doors
Grades 7-12 · 7 students
Source: National Center for Education Statistics, Common Core of Data directory. Updated annually. Ratings and test scores are not currently displayed.
Which cities are near Cheney, WA?
Want a head-to-head view? Compare Cheney side-by-side with any other U.S. city using our market-comparison tool.
Is Cheney a good real estate investment market?
For investors evaluating Cheney, the price-to-rent ratio of 24.3x indicates higher purchase prices relative to rental income, typical of appreciation-focused markets. The market has softened 2.1% year-over-year, potentially creating entry opportunities for strategic buyers.Use our rent vs. buy calculator to analyze whether owning or renting makes more financial sense based on Cheney's current market conditions and your specific situation. Estimate your monthly payment with the mortgage calculator using Cheney's median home price.
Frequently asked questions
What is the average home price in Cheney?
The median home sale price in Cheney is $386,825, down 2.1% from last year.
How long do homes stay on market in Cheney?
Homes typically spend 61 days on market before going under contract.
What is the median income in Cheney?
The median household income is $47,039 per year.
Is Cheney a buyer's or seller's market?
With 1.3 months of supply, Cheney is currently a seller's market.
What is the Zillow home value estimate for Cheney?
The Zillow Home Value Index (ZHVI) for Cheney is $423,645, representing the typical home value in the area.
What is the median condo price in Cheney?
The median condo/co-op sale price in Cheney, WA is $205,000, compared to $386,825 for a single-family home, based on the latest Redfin data.
How much does a single-family home cost in Cheney?
The median single-family home price in Cheney, WA is $386,825 (about $228 per square foot).
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