$10,000 Closing Credit*
$945,065
4,568 SqFt
5 Beds
•4 Full Baths, 1 Partial
Martin K. Alloy, Listing Office: SM Brokerage, LLC
Is Cherry Hill, VA 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, VA
How much do homes in Cherry Hill, VA cost?
Median Sold Price
$600,937
$239/sqft
Based on all homes sold in the last 12 months.
Difference Since October 2023
+$35,104(+6.2%)
Key Takeaway
Homes in Cherry Hill have sold for 6.2% more than they did a year ago.
Summary: The median home sold price in Cherry Hill was $600,937 in October 2024, up 6.2% from last year, and the median price per square foot was $239.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | - | N/A |
| 2 Bedrooms | $236K | $397.5K | +68.4% |
| 3 Bedrooms | $480K | $493K | +2.7% |
| 4 Bedrooms | $600.9K | $663.5K | +10.4% |
| 5+ Bedrooms | $770K | $785K | +1.9% |
Summary: Cherry Hill housing prices by bedroom type for October 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes increased by 68.4%, 3 bedroom homes increased by 2.7%, 4 bedroom homes increased by 10.4%, and 5+ bedroom homes increased by 1.9%.
Median Sold Price Compared To Nearby Neighborhoods
| Montclair | $554K | $600K | +8.3% |
| Cherry Hill | $565.8K | $600.9K | +6.2% |
Housing Supply in Cherry Hill, VA
How many homes are available in Cherry Hill, VA?
Number of Homes For Sale
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 81 | 94 | +16.0% |
Summary: The Cherry Hill real estate market had 94 homes for sale in October 2024, a 16.0% increase compared to September 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 0 | 0 | 0.0% |
| 2 Bedrooms | 2 | 2 | 0.0% |
| 3 Bedrooms | 33 | 38 | +15.2% |
| 4 Bedrooms | 31 | 35 | +12.9% |
| 5+ Bedrooms | 15 | 19 | +26.7% |
Summary: The Cherry Hill housing inventory by bedroom type for October 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes remained the same, 3 bedroom homes increased by 15.2%, 4 bedroom homes increased by 12.9%, and 5+ bedroom homes increased by 26.7%.
Number of Homes Sold
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 20 | 27 | +35.0% |
Asking Price vs. Sold Price
7 Homes Were Sold
Under Asking
13 Homes Were Sold
At Asking
7 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Cherry Hill, expect to pay close to the asking price. 48.1% of homes here sold near the asking price last month.
Summary: A total of 27 homes were sold or pending in Cherry Hill in October 2024, up by 35.0% month-over-month. Of the 27 sold homes, 26% were sold under asking, 48% were sold at asking, and 26% were sold over asking.
Days on Market for Cherry Hill, VA
How long does it take to sell a home in Cherry Hill, VA?
Average Sale Time
| Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|
| 20 Days | 27 Days | +36.8% |
Summary: Homes in Cherry Hill had an average of 27 days on market in Oct 2024, up by 36.8% compared to last year.
Breakdown of Home Sale Times
15 Homes Were Sold
Under 30 Days
11 Homes Were Sold
In 30 - 90 Days
1 Home Was 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, 27 homes were sold in Cherry Hill; 56% of homes were sold within 30 days, 41% of homes were sold within 30 to 90 days, and 4% of homes were sold over 90 days.
Information is provided by Charlottesville Area Association of Realtors®. IDX information is provided exclusively for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Information provided is thought to be reliable but is not guaranteed to be accurate; you are advised to verify facts that are important to you. No warranties, expressed or implied, are provided for the data herein, or for their use or interpretation by the user.