Is Cherry Hill, NJ a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Cherry Hill is a seller's market

Buyer's
Market

Difference Since September 2021

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.

How much do homes in Cherry Hill, NJ cost?

Median Sold Price

$388,487

$190/sqft

Based on all homes sold in the last 12 months.

Difference Since September 2021

+$38,487(+11.0%)

Key Takeaway

Homes in Cherry Hill have sold for 11% more than they did a year ago.

Median Sold Price By Bedroom Count

# BEDSSep 2021Sep 2022%
1 $110K$106.5K
-3.2%
2 $200K$235K
+17.5%
3 $325K$345K
+6.2%
4 $397K$460.3K
+16.0%
5+ $457K$507.7K
+11.1%

Median Sold Price Compared To Nearby Cities

Haddonfield
+12.3%
Cherry Hill
+11.0%
Cherry Hill Township
+10.9%
Maple Shade Township
+9.5%

How many homes are available in Cherry Hill, NJ?

Number of Homes For Sale

Aug 2022Sep 2022%
329267-18.8%

Homes For Sale By Bedroom Count

# BEDSAug 2022Sep 2022%
1 118
-27.3%
2 4636
-21.7%
3 11288
-21.4%
4 134112
-16.4%
5+ 2623
-11.5%

Number of Homes Sold

Aug 2022Sep 2022%
11281-27.7%

Asking Price vs. Sold Price

27 Homes Were Sold
Under Asking

10 Homes Were Sold
At Asking

44 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Cherry Hill, you could pay more than the asking price. 54.3% of homes here sold above asking price last month.

Average Sale Time

Sep 2021Sep 2022%
20 Days20 Days+2.6%

Breakdown of Home Sale Times

60 Homes Were Sold
Under 30 Days

19 Homes Were Sold
In 30 - 90 Days

2 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

Many homes in Cherry Hill are selling fast, if you're buying plan to act quickly.

Housing Market Reports are calculated by Rocket Homes Real Estate and based on information from the MLS.

About Cherry Hill, NJ

Homes for sale in Cherry Hill, NJ have reached 267. In September 2022 in Cherry Hill, NJ there were 18.8% less homes for sale than in August 2022. The median list price of listings available in September 2022 was $388,487, while the average time on the real estate market was 20 days. Between August 2022 and September 2022, listing prices of homes in this real estate market have seen the following changes: prices of 1 bedroom properties went down by 3.2%, 2 bedrooms properties became 17.5% more expensive, 3 bedrooms properties prices increased by 6.2%, prices of 4 bedrooms properties increased by 16%, 5 bedrooms properties prices increased by 11.1%. This housing market inventory have changed: volume of 1 bedroom homes went down by 27.3%, the quantity of 2 bedrooms homes went down by 21.7%, 3 bedrooms homes became 21.4% less available, 4 bedrooms homes inventory decreased by 16.4%, volume of 5 bedrooms homes went down by 11.5%. In September 2022 more than 44 listings in Cherry Hill, NJ were sold above the asking price. During the same period more than 10 listings were sold at asking price, while more than 27 were sold below.

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