Home values in Cherry Hill are moving down notably, with the typical home value now around $433,000, about 25.3% lower than a year ago and 25.9% lower than last month. List prices, however, are trending the other way, with the median list price rising to roughly $717,450, up 7.9% month over month.
Inventory in March stood at just 8 homes, down about 11.1% from a year earlier. New listings also totaled 8, which is 38.5% fewer than last year. Pending sales are flat year over year, holding steady at 8.
Homes are taking longer to sell, with the median days on market stretching to 71 days, up 20.3% since last month and 173.1% compared to a year ago. Even with slower timelines, Cherry Hill still leans toward sellers, reflected in a strong market gauge reading of 10 and about 14.3% of recent sales closing above list price, with an average sale-to-list ratio of about 0.976. Compared with the broader city of Orem, where typical values are higher at around $511,800 and inventory is a much larger 146 homes, Cherry Hill offers a smaller and tighter market, with projections showing a typical home value near $357,500 and median list price around $743,725 next month. Whether you are a buyer navigating these shifts or a seller weighing your options, Agent Pronto can connect you with a local agent who understands this neighborhood’s dynamics.
