Is Cherry Hill, NJ a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since April 2023
Since last year, Cherry Hill has remained a Seller's Market.
Housing Prices in Cherry Hill, NJ
How much do homes in Cherry Hill, NJ cost?
Median Sold Price
$425,000
$219/sqft
Based on all homes sold in the last 12 months.
Difference Since April 2023
Summary: The median home sold price in Cherry Hill was $425,000 in April 2024, up 10.8% from last year, and the median price per square foot was $219.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | Apr 2023 | Apr 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $127K | $150K | +18.1% |
2 Bedrooms | $230K | $274.2K | +19.2% |
3 Bedrooms | $350K | $389.9K | +11.4% |
4 Bedrooms | $460K | $528.5K | +14.9% |
5+ Bedrooms | $590K | $584.2K | -1.0% |
Summary: Cherry Hill housing prices by bedroom type for April 2024 compared to the previous year: The home price of 1 bedroom homes increased by 18.1%, 2 bedroom homes increased by 19.2%, 3 bedroom homes increased by 11.4%, 4 bedroom homes increased by 14.9%, and 5+ bedroom homes decreased by 1%.
Median Sold Price Compared To Nearby Cities
Maple Shade Township | $256.2K | $285.3K | +11.4% |
Cherry Hill | $383.4K | $425K | +10.8% |
Haddonfield | $627K | $695K | +10.8% |
Cherry Hill Township | $383.5K | $423.3K | +10.4% |
Housing Supply in Cherry Hill, NJ
How many homes are available in Cherry Hill, NJ?
Number of Homes For Sale
Mar 2024 | Apr 2024 | CHANGE |
---|---|---|
194 | 218 | +12.4% |
Summary: The Cherry Hill real estate market had 218 homes for sale in April 2024, a 12.4% increase compared to March 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Mar 2024 | Apr 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 5 | 5 | 0.0% |
2 Bedrooms | 37 | 43 | +16.2% |
3 Bedrooms | 69 | 72 | +4.3% |
4 Bedrooms | 67 | 79 | +17.9% |
5+ Bedrooms | 16 | 19 | +18.8% |
Summary: The Cherry Hill housing inventory by bedroom type for April 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes increased by 16.2%, 3 bedroom homes increased by 4.3%, 4 bedroom homes increased by 17.9%, and 5+ bedroom homes increased by 18.8%.
Number of Homes Sold
Mar 2024 | Apr 2024 | CHANGE |
---|---|---|
56 | 61 | +8.9% |
Asking Price vs. Sold Price
16 Homes Were Sold
Under Asking
8 Homes Were Sold
At Asking
37 Homes Were Sold
Over Asking
Summary: A total of 61 homes were sold or pending in Cherry Hill in April 2024, up by 8.9% month-over-month. Of the 61 sold homes, 26% were sold under asking, 13% were sold at asking, and 61% 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
Apr 2023 | Apr 2024 | CHANGE |
---|---|---|
30 Days | 29 Days | -1.6% |
Summary: Homes in Cherry Hill had an average of 29 days on market in Apr 2024, down by 1.6% compared to last year.
Breakdown of Home Sale Times
46 Homes Were Sold
Under 30 Days
9 Homes Were Sold
In 30 - 90 Days
6 Homes Were Sold
Over 90 Days
Summary: During April 2024, 61 homes were sold in Cherry Hill; 75% of homes were sold within 30 days, 15% of homes were sold within 30 to 90 days, and 10% of homes were sold over 90 days.