$4,156 Closing Credit*
$350,000
1,040 SqFt
3 Beds
•1 Full Bath, 1 Partial
Ronald W Halbruner Jr., Listing Office: Keller Williams Realty
Is Cherry Hill, NJ a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since November 2023
Since last year, Cherry Hill has remained a Seller's Market.
Key Takeaway
Cherry Hill is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Cherry Hill, NJ
How much do homes in Cherry Hill, NJ cost?
Median Sold Price
$449,999
$230/sqft
Based on all homes sold in the last 12 months.
Difference Since November 2023
+$34,999(+8.4%)
Key Takeaway
Homes in Cherry Hill have sold for 8.4% more than they did a year ago.
Summary: The median home sold price in Cherry Hill was $449,999 in November 2024, up 8.4% from last year, and the median price per square foot was $230.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Nov 2023 | Nov 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $141.2K | $149.9K | +6.2% |
| 2 Bedrooms | $258K | $282.2K | +9.4% |
| 3 Bedrooms | $376.1K | $417.2K | +10.9% |
| 4 Bedrooms | $510K | $520K | +2.0% |
| 5+ Bedrooms | $605K | $578.2K | -4.4% |
Summary: Cherry Hill housing prices by bedroom type for November 2024 compared to the previous year: The home price of 1 bedroom homes increased by 6.2%, 2 bedroom homes increased by 9.4%, 3 bedroom homes increased by 10.9%, 4 bedroom homes increased by 2%, and 5+ bedroom homes decreased by 4.4%.
Median Sold Price Compared To Nearby Cities
| Maple Shade Township | $260K | $300K | +15.4% |
| Cherry Hill | $415K | $449.9K | +8.4% |
| Cherry Hill Township | $410K | $444.3K | +8.4% |
| Haddonfield | $695K | $749.5K | +7.8% |
Housing Supply in Cherry Hill, NJ
How many homes are available in Cherry Hill, NJ?
Number of Homes For Sale
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 229 | 197 | -14.0% |
Summary: The Cherry Hill real estate market had 197 homes for sale in November 2024, a 14.0% decrease compared to October 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 7 | 3 | -57.1% |
| 2 Bedrooms | 32 | 24 | -25.0% |
| 3 Bedrooms | 80 | 72 | -10.0% |
| 4 Bedrooms | 94 | 86 | -8.5% |
| 5+ Bedrooms | 16 | 12 | -25.0% |
Summary: The Cherry Hill housing inventory by bedroom type for November 2024 compared to the previous month: The inventory of 1 bedroom homes decreased by 57.1%, 2 bedroom homes decreased by 25%, 3 bedroom homes decreased by 10%, 4 bedroom homes decreased by 8.5%, and 5+ bedroom homes decreased by 25%.
Number of Homes Sold
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 71 | 54 | -23.9% |
Asking Price vs. Sold Price
12 Homes Were Sold
Under Asking
11 Homes Were Sold
At Asking
30 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Cherry Hill, you could pay more than the asking price. 56.6% of homes here sold above asking price last month.
Summary: A total of 54 homes were sold or pending in Cherry Hill in November 2024, down by 23.9% month-over-month. Of the 53 sold homes, 23% were sold under asking, 21% were sold at asking, and 57% were sold over asking.
Days on Market for Cherry Hill, NJ
How long does it take to sell a home in Cherry Hill, NJ?
Average Sale Time
| Nov 2023 | Nov 2024 | CHANGE |
|---|---|---|
| 28 Days | 28 Days | +1.7% |
Summary: Homes in Cherry Hill had an average of 28 days on market in Nov 2024, up by 1.7% compared to last year.
Breakdown of Home Sale Times
37 Homes Were Sold
Under 30 Days
15 Homes Were Sold
In 30 - 90 Days
2 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Cherry Hill are selling fast, if you're buying plan to act quickly.
Summary: During November 2024, 54 homes were sold in Cherry Hill; 69% of homes were sold within 30 days, 28% of homes were sold within 30 to 90 days, and 4% of homes were sold over 90 days.
