Camden County real estate market experienced a measured August 2024 across New Jersey’s diverse communities. The market showed resilience in areas like Cherry Hill, Haddonfield, and Voorhees as both buyers and sellers navigated evolving conditions throughout the month.
View Full Camden County Market Report (PDF)
What August Meant for Buyers in Camden County
Buyers encountered a cooling environment with 481 closed sales in August, representing a 5.9% decline from the previous year. Properties moved efficiently with homes averaging just 13 days on market, matching last year’s pace. Communities like Collingswood, Haddon Township, and Berlin offered varied options for different buyer preferences and budgets.
Competition among buyers eased compared to 2023’s intensity. About 58.0% of homes sold above their asking price, down from 67.1% in August 2023. This shift created more favorable negotiating conditions for buyers, particularly in neighborhoods where inventory levels provided additional choices. First-time buyers found improved opportunities in townships like Lindenwold and Winslow.
Seller Highlights from August in Camden County
Strong price appreciation marked August for sellers, with the median sales price reaching $349,000, up 9.1% from the previous year. This growth reflected sustained demand across established communities from Haddonfield’s historic charm to newer developments in Washington Township. Sellers in desirable school districts maintained particular pricing power.
New inventory declined 15.4% year-over-year, reducing competition among sellers while supporting price growth. Properties priced appropriately found ready buyers, with 16.4% of homes selling exactly at list price. The reduced listing activity helped sellers in areas like Mount Ephraim and Barrington achieve favorable outcomes despite the broader market softening.
Key Takeaways:
- Median sales price increased 9.1% to $349,000, outpacing regional averages
- Marketing time remained brief at 13 days, indicating continued efficiency
- Seller competition decreased with 15.4% fewer new listings than August 2023
Related Market Reports:
Compare Camden County’s performance with other South Jersey markets:
- Burlington County Market Recap for August 2024
- Cumberland County Market Recap for August 2024
- Gloucester County Market Recap for August 2024
- Salem County Market Recap for August 2024
See how the market has evolved: Camden County Market Recap for July 2024
