Momo found a cherry on her new cherry tree tonight!
Like the cupcakes, the homegrown cherries sell for 85 coins.
A note on cherry trees: before the cherry tree is fully grown, it has green leaves. The young cherry tree has a green, leafy broccoli-like shape and appears identical to the growing orange, apple and cupcake trees.
Updated to add: For some reason, when the cherries were initially released they could be sold for 85 coins, but now they only sell for 65 coins.