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If it is very nice, that's high but not terribly high retail. For $7bf in Dallas, I would expect pretty wide, quite straight (in terms of twist, cup, and bow), and very little or no sapwood. A more typical price around here for ordinary Cherry is mid-$4 to $5.
That's not a bad price for good cherry in the Atlanta area. Atlanta Hardwoods quotes their cherry to be 90% clear heartwood and kiln dried. Their domestic wood is S3S. Their cherry is available in 4/4 surfaced to 13/16". An example of their $/bd-ft pricing based on 25 bd-ft qty is as follows: