$5,510 Closing Credit*
$464,000
2,004 SqFt
4 Beds
•3 Full Baths
Melissa Anne Ryan, 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 October 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
$450,000
$231/sqft
Based on all homes sold in the last 12 months.
Difference Since October 2023
+$44,500(+11.0%)
Key Takeaway
Homes in Cherry Hill have sold for 11% more than they did a year ago.
Summary: The median home sold price in Cherry Hill was $450,000 in October 2024, up 11% from last year, and the median price per square foot was $231.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $145K | $149.9K | +3.4% |
| 2 Bedrooms | $251K | $283.5K | +12.9% |
| 3 Bedrooms | $365K | $418.3K | +14.6% |
| 4 Bedrooms | $500K | $525K | +5.0% |
| 5+ Bedrooms | $617.9K | $575K | -6.9% |
Summary: Cherry Hill housing prices by bedroom type for October 2024 compared to the previous year: The home price of 1 bedroom homes increased by 3.4%, 2 bedroom homes increased by 12.9%, 3 bedroom homes increased by 14.6%, 4 bedroom homes increased by 5%, and 5+ bedroom homes decreased by 6.9%.
Median Sold Price Compared To Nearby Cities
| Maple Shade Township | $260K | $300K | +15.4% |
| Haddonfield | $662.5K | $738.2K | +11.4% |
| Cherry Hill | $405.5K | $450K | +11.0% |
| Cherry Hill Township | $404.9K | $446.6K | +10.3% |
Housing Supply in Cherry Hill, NJ
How many homes are available in Cherry Hill, NJ?
Number of Homes For Sale
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 232 | 231 | -0.4% |
Summary: The Cherry Hill real estate market had 231 homes for sale in October 2024, a 0.4% decrease compared to September 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 7 | 6 | -14.3% |
| 2 Bedrooms | 39 | 33 | -15.4% |
| 3 Bedrooms | 76 | 83 | +9.2% |
| 4 Bedrooms | 85 | 91 | +7.1% |
| 5+ Bedrooms | 25 | 18 | -28.0% |
Summary: The Cherry Hill housing inventory by bedroom type for October 2024 compared to the previous month: The inventory of 1 bedroom homes decreased by 14.3%, 2 bedroom homes decreased by 15.4%, 3 bedroom homes increased by 9.2%, 4 bedroom homes increased by 7.1%, and 5+ bedroom homes decreased by 28%.
Number of Homes Sold
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 66 | 67 | +1.5% |
Asking Price vs. Sold Price
27 Homes Were Sold
Under Asking
7 Homes Were Sold
At Asking
33 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Cherry Hill, you could pay more than the asking price. 49.3% of homes here sold above asking price last month.
Summary: A total of 67 homes were sold or pending in Cherry Hill in October 2024, up by 1.5% month-over-month. Of the 67 sold homes, 40% were sold under asking, 10% were sold at asking, and 49% 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
| Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|
| 20 Days | 34 Days | +65.9% |
Summary: Homes in Cherry Hill had an average of 34 days on market in Oct 2024, up by 65.9% compared to last year.
Breakdown of Home Sale Times
43 Homes Were Sold
Under 30 Days
19 Homes Were Sold
In 30 - 90 Days
5 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 October 2024, 67 homes were sold in Cherry Hill; 64% of homes were sold within 30 days, 28% of homes were sold within 30 to 90 days, and 7% of homes were sold over 90 days.
