South Jersey in 2026: Not a Buyer's Market, But Some Homes Absolutely Are
Let me start with the line I'd want every South Jersey buyer and Realtor to hear: South Jersey isn't a buyer's market yet, but some South Jersey homes absolutely are. That single distinction is worth more than any headline, because it's the difference between finding real opportunity and walking into a bidding war you didn't see coming.
For this picture, I'm defining core South Jersey as Burlington, Camden, and Gloucester counties. That keeps things honest and local, instead of stretching the entire Philadelphia metro over our market and pretending it all behaves the same way. It doesn't.
The single-family picture: seller-leaning, but softening
Here's the July 2026 single-family scorecard for the three core counties.
| Market | Median Price | YoY | Days on Market | List Price Received | Inventory | Months Supply |
|---|---|---|---|---|---|---|
| Burlington County | $490,000 | +9.4% | 29 | 100.7% | 868 | 2.9 |
| Camden County | $424,218 | +5.4% | 29 | 102.5% | 821 | 2.5 |
| Gloucester County | $428,000 | +1.9% | 31 | 101.5% | 516 | 2.5 |
Read those numbers carefully, because they don't describe a broad buyer's market. New Jersey REALTORS data shows Burlington's single-family inventory rose 4.3% from last July, yet the median price still jumped 9.4% and closed sales were up 18.2% even as new listings fell 5.8%. Camden is even more telling: inventory up just 3%, but the typical home received 102.5% of asking and prices climbed 5.4%. Gloucester softened the most, days on market up 19.2%, closed sales down 7.3%, but the median still rose 1.9% and homes averaged 101.5% of asking.
Translation: for single-family homes, sellers still hold the edge. It's becoming less extreme, but a buyer who walks into an updated Cherry Hill, Haddonfield, Moorestown, Marlton, or Mount Laurel home expecting to knock 10% off asking is going to be disappointed. The data simply doesn't support treating every listing that way.
Where the real opportunity is hiding: condos and townhomes
This is the part that jumped out at me, and it's where I'd send buyers looking for leverage first.
Across all three counties, the attached market has loosened dramatically. In Burlington County, townhouse and condo inventory is up 25.6%, months of supply climbed from 2.1 to 2.8, days on market rose nearly 21%, and the median price slipped to $343,000. In Camden County, condo/townhome inventory jumped 24.7%, months of supply hit 3.3 (the highest of the three counties), sellers received 99.9% of asking versus 100.4% a year ago, and the median dropped 3.7%. In Gloucester County, that inventory rose 23.4%, days on market jumped nearly 47%, and the median sale price fell 2.9%.
That's roughly a 23% to 26% inventory increase in attached homes across the board, and prices actually declining in all three counties. That is what a buyer-friendly segment looks like. If you're a first-time buyer, a downsizer, or an investor eyeing South Jersey, the condo and townhome market is where your negotiating power is strongest right now.
The broader regional context
Zoom out to the Philadelphia-Camden-Wilmington metro and you see even more softening than the county single-family numbers alone suggest. In July, active listings there were up 14.7% year over year, new listings were down 9%, the median asking price was $384,700 (essentially flat), and 17.3% of listings had taken a price reduction, up 3.7 percentage points from last year. Redfin also found seller concessions in 30.5% of Philadelphia-area transactions in the three months ending May, up 5.1 points year over year.
I'll be straight about this: that metro spans Pennsylvania, Delaware, Maryland, and New Jersey, so I'd never present those figures as specifically South Jersey. But as regional context, they reinforce the trend, negotiation is becoming more common across the whole area.
Don't just negotiate price. Negotiate the transaction.
Here's where financing becomes part of the deal, and it's the conversation I care about most as your advisor.
With Freddie Mac's national 30-year benchmark averaging 6.67% on August 13 (down slightly from 6.69% the prior week, but that's a benchmark, not your personal quote), affordability is still the main constraint. So instead of only pushing on price, look at the whole structure. When allowable, buyers can explore seller-paid closing costs, repairs, prepaid expenses, and mortgage buydown strategies, temporary or permanent. The best structure depends entirely on your loan program and actual lender pricing, and I can't guarantee a specific rate or result. But modeling the options is where deals get won.
Take a $450,000 South Jersey home. Instead of stopping at "what's the rate," turn it into "what happens if we negotiate $10,000 to $15,000, and in what form?" Then compare scenarios side by side: a straight price reduction, seller-paid closing costs, a permanent rate buydown, a temporary buydown, or a combination. Those versions can produce meaningfully different monthly payments and different cash-to-close. That's not competing as one more lender quoting a rate, that's helping solve the transaction.
The bigger reason it's worth it
Even in a market you have to navigate carefully, ownership tends to pay off over time. According to the Federal Reserve's 2022 Survey of Consumer Finances, the median net worth of homeowners was about $396,200, compared with roughly $10,400 for renters and non-homeowners, nearly a 40-to-1 gap. New Jersey's carrying costs are real, but rent builds nothing while a fixed-rate mortgage slowly converts your payment into equity you own. When you can find a softer segment and structure the deal well, that long-term math gets a lot more attainable.
The mindset that wins
The most freeing thing I can tell a South Jersey buyer is this: you don't have to decide whether the entire market is good or bad. We only have to determine whether we can structure one good transaction for you. Maybe that's a price-reduced listing. Maybe it's a townhome where inventory has jumped. Maybe it's an older home where the seller has room to move. And waiting purely for lower rates isn't automatically the safest strategy, a future rate drop could also bring more buyers back and erase the leverage you have today. The better question is whether today's mix of price, negotiation, and financing works for you specifically.
Related Reading
Frequently Asked Questions
Is South Jersey a buyer's market in 2026?
Not broadly. Single-family homes in Burlington, Camden, and Gloucester counties still sold at or above asking in July with prices up year over year. But specific segments, especially condos and townhomes, have shifted noticeably toward buyers.
Where do buyers have the most leverage right now?
The attached market. Townhouse and condo inventory rose roughly 23% to 26% across the three core counties, with prices declining in each. That's where negotiating power is strongest today.
Can I lowball single-family homes in South Jersey?
Generally no. Camden County single-family homes averaged 102.5% of asking and Gloucester 101.5% in July. Desirable, updated homes in strong school districts still command near or over list. Strategy and structure beat lowballing.
What does negotiate the transaction mean?
Beyond price, you can often negotiate seller-paid closing costs, repairs, prepaid expenses, or a rate buydown. The best structure depends on your loan program and lender pricing. Modeling several scenarios usually reveals the strongest option for your payment.
What are mortgage rates right now?
Freddie Mac's national 30-year fixed benchmark averaged 6.67% as of August 13, 2026. That's a national average, not a personal quote, your rate depends on credit, loan type, property, points, and other factors.
Should I wait for rates to drop before buying?
Maybe, maybe not. A lower rate could improve affordability, but it could also bring more buyers back and reduce your leverage. No one knows the timing with certainty. The better question is whether one good, well-structured deal works for you now.
Want a real answer for your situation?
If you are wondering whether buying, refinancing, or using down payment assistance makes sense for your situation, connect with Ken Clark Jr. and the #ChampionsofLoans team at PRMG Mortgage. The right strategy starts with a conversation, not a guess.
Sources: Freddie Mac Primary Mortgage Market Survey (Aug 13, 2026); New Jersey REALTORS County Market Reports (July 2026); Redfin Philadelphia-Area Market and Seller-Concession Data; Realtor.com Philadelphia-Camden-Wilmington Metro (July 2026); Federal Reserve, 2022 Survey of Consumer Finances.
This article is for educational purposes only and is not a commitment to lend or guarantee of approval. Loan programs, rates, terms, and eligibility requirements are subject to change and depend on credit, income, property, occupancy, program guidelines, and other underwriting factors. Equal Housing Opportunity. Paramount Residential Mortgage Group, Inc. (PRMG), NMLS #75243. Ken Clark Jr., NMLS #225375.
