Is Cherry Hill Township, 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 Township has remained a Seller's Market.
Key Takeaway
Cherry Hill Township is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Cherry Hill Township, NJ
How much do homes in Cherry Hill Township, NJ cost?
Median Sold Price
$423,333
$219/sqft
Based on all homes sold in the last 12 months.
Difference Since April 2023
Key Takeaway
Homes in Cherry Hill Township have sold for 10.4% more than they did a year ago.
Summary: The median home sold price in Cherry Hill Township was $423,333 in April 2024, up 10.4% 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 | $225K | $271.2K | +20.6% |
| 3 Bedrooms | $350K | $389.9K | +11.4% |
| 4 Bedrooms | $460K | $528.5K | +14.9% |
| 5+ Bedrooms | $590K | $584.2K | -1.0% |
Summary: Cherry Hill Township 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 20.6%, 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% |
| Maple Shade | $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 Township, NJ
How many homes are available in Cherry Hill Township, NJ?
Number of Homes For Sale
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 198 | 220 | +11.1% |
Summary: The Cherry Hill Township real estate market had 220 homes for sale in April 2024, a 11.1% increase compared to March 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 6 | 6 | 0.0% |
| 2 Bedrooms | 38 | 43 | +13.2% |
| 3 Bedrooms | 70 | 73 | +4.3% |
| 4 Bedrooms | 68 | 79 | +16.2% |
| 5+ Bedrooms | 16 | 19 | +18.8% |
Summary: The Cherry Hill Township 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 13.2%, 3 bedroom homes increased by 4.3%, 4 bedroom homes increased by 16.2%, and 5+ bedroom homes increased by 18.8%.
Number of Homes Sold
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 57 | 61 | +7.0% |
Asking Price vs. Sold Price
16 Homes Were Sold
Under Asking
8 Homes Were Sold
At Asking
37 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Cherry Hill Township, you could pay more than the asking price. 60.7% of homes here sold above asking price last month.
Summary: A total of 61 homes were sold or pending in Cherry Hill Township in April 2024, up by 7.0% 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 Township, NJ
How long does it take to sell a home in Cherry Hill Township, NJ?
Average Sale Time
| Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|
| 30 Days | 29 Days | -1.6% |
Summary: Homes in Cherry Hill Township 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
Key Takeaway
Many homes in Cherry Hill Township are selling fast, if you're buying plan to act quickly.
Summary: During April 2024, 61 homes were sold in Cherry Hill Township; 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.
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.