Townhouse Market in Cherry Hill

Townhouses and condos are an important segment of the Cherry Hill housing market. They offer a more affordable entry point, lower maintenance living, and attractive options for first-time buyers, downsizers, and investors alike.

Current Market Overview

Townhouses and condos in Cherry Hill typically range from $200,000 to $350,000, depending on location, size, and community amenities. This makes them significantly more affordable than single-family homes, which average $386,000 to $467,000. The townhouse market has seen steady demand from buyers seeking lower-maintenance living without sacrificing access to Cherry Hill's excellent schools and amenities.

Popular Townhouse Communities

Cherry Hill has several well-established townhouse and condo communities. These neighborhoods offer a range of options from garden-style condos to spacious townhouses with attached garages. Many communities feature amenities like pools, fitness centers, and landscaped common areas. Popular areas include developments near the Cherry Hill Mall corridor and communities off Route 70 and Springdale Road.

Who Buys Townhouses in Cherry Hill

Three main buyer groups drive the townhouse market:

• First-time buyers — Townhouses offer a more affordable path to homeownership in a desirable community. Lower purchase prices and the ability to lock in a mortgage make them attractive.
• Empty nesters and downsizers — Retirees and empty nesters often sell larger single-family homes and move to townhouses for lower maintenance and single-level living options.
• Investors — Townhouses can be attractive rental properties, offering strong demand from professionals and small families.

HOA Considerations

Most townhouse and condo communities in Cherry Hill have homeowners association (HOA) fees. These fees typically cover exterior maintenance, landscaping, common area upkeep, and sometimes amenities like pools or fitness centers. When evaluating a townhouse purchase, be sure to factor HOA fees into your monthly budget and review the association's financial health and rules.

Market Trends

The townhouse market in Cherry Hill has remained competitive, with well-priced units often selling quickly. Inventory can be limited in the most desirable communities, so buyers should be prepared to act when the right unit comes on the market. For more data on the broader Cherry Hill market, including how townhouses compare to single-family homes, visit our Cherry Hill Real Estate Market page.