Is Cherry Hill, NJ a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since June 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
$441,333
$223/sqft
Based on all homes sold in the last 12 months.
Difference Since June 2023
Key Takeaway
Homes in Cherry Hill have sold for 16.1% more than they did a year ago.
Summary: The median home sold price in Cherry Hill was $441,333 in June 2024, up 16.1% from last year, and the median price per square foot was $223.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Jun 2023 | Jun 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $126K | $150K | +19.0% |
| 2 Bedrooms | $240K | $275.7K | +14.9% |
| 3 Bedrooms | $350K | $405K | +15.7% |
| 4 Bedrooms | $475K | $525K | +10.5% |
| 5+ Bedrooms | $600K | $575K | -4.2% |
Summary: Cherry Hill housing prices by bedroom type for June 2024 compared to the previous year: The home price of 1 bedroom homes increased by 19%, 2 bedroom homes increased by 14.9%, 3 bedroom homes increased by 15.7%, 4 bedroom homes increased by 10.5%, and 5+ bedroom homes decreased by 4.2%.
Median Sold Price Compared To Nearby Cities
| Cherry Hill | $380K | $441.3K | +16.1% |
| Cherry Hill Township | $380K | $439.8K | +15.7% |
| Maple Shade Township | $255K | $290K | +13.7% |
| Haddonfield | $650.7K | $650K | -0.1% |
Housing Supply in Cherry Hill, NJ
How many homes are available in Cherry Hill, NJ?
Number of Homes For Sale
| May 2024 | Jun 2024 | CHANGE |
|---|---|---|
| 261 | 267 | +2.3% |
Summary: The Cherry Hill real estate market had 267 homes for sale in June 2024, a 2.3% increase compared to May 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | May 2024 | Jun 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 4 | 5 | +25.0% |
| 2 Bedrooms | 39 | 44 | +12.8% |
| 3 Bedrooms | 86 | 89 | +3.5% |
| 4 Bedrooms | 102 | 101 | -1.0% |
| 5+ Bedrooms | 30 | 28 | -6.7% |
Summary: The Cherry Hill housing inventory by bedroom type for June 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 25%, 2 bedroom homes increased by 12.8%, 3 bedroom homes increased by 3.5%, 4 bedroom homes decreased by 1%, and 5+ bedroom homes decreased by 6.7%.
Number of Homes Sold
| May 2024 | Jun 2024 | CHANGE |
|---|---|---|
| 74 | 76 | +2.7% |
Asking Price vs. Sold Price
15 Homes Were Sold
Under Asking
7 Homes Were Sold
At Asking
54 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Cherry Hill, you could pay more than the asking price. 71.1% of homes here sold above asking price last month.
Summary: A total of 76 homes were sold or pending in Cherry Hill in June 2024, up by 2.7% month-over-month. Of the 76 sold homes, 20% were sold under asking, 9% were sold at asking, and 71% 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
| Jun 2023 | Jun 2024 | CHANGE |
|---|---|---|
| 13 Days | 15 Days | +18.3% |
Summary: Homes in Cherry Hill had an average of 15 days on market in Jun 2024, up by 18.3% compared to last year.
Breakdown of Home Sale Times
68 Homes Were Sold
Under 30 Days
6 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 June 2024, 76 homes were sold in Cherry Hill; 89% of homes were sold within 30 days, 8% of homes were sold within 30 to 90 days, and 3% of homes were sold over 90 days.
The data relating to real estate for sale on this web-site comes in part from the Internet Listing Display database of the CENTRAL JERSEY MULTIPLE LISTING SYSTEM. Real estate listings held by brokerage firms other than this site-owner are marked with the ILD logo. The CENTRAL JERSEY MULTIPLE LISTING SYSTEM does not warrant the accuracy, quality, reliability, suitability, completeness, usefulness or effectiveness of any information provided. The information being provided is for consumers' personal, non-commercial use and may not be used for any purpose other than to identify properties the consumer may be interested in purchasing or renting. Copyright 2024, CENTRAL JERSEY MULTIPLE LISTING SYSTEM. All Rights Reserved. The CENTRAL JERSEY MULTIPLE LISTING SYSTEM retains all rights, title and interest in and to its trademarks, service marks and copyrighted material.
Disclaimer: The data relating to the real estate for sale on this web site comes in part from the Internet Data Exchange Program of the NJMLS. Real estate listings held by brokerage firms other than Rocket Homes Real Estate, LLC are marked with the Internet Data Exchange logo and information about them includes the name of the listing brokers. Some properties listed with the participating brokers do not appear on this website at the request of the seller. Listings of brokers that do not participate in Internet Data Exchange do not appear on this website.