By Mike Lentz | The Mike Lentz Team - Keller Williams Realty
South Jersey price cuts are running at the national pace: about 4 in 10 active listings (41%) have had at least one, and the median cut is $20,000. Nationally, HousingWire Data puts the share at 42%. Among South Jersey homes that closed, the share with a price cut rose from 21% in June to 30% in September.
Most of the price cut coverage you see is national data. HousingWire, Realtor.com, and Redfin publish those numbers, and we label each one below as national. South Jersey has its own numbers, drawn from Bright MLS listings in Gloucester, Camden, Burlington, Salem, and Cumberland counties. They point the same direction as the national picture, with a few local differences.
National Data: 42% of Homes for Sale Carry a Price Cut
According to HousingWire Data, the share of sellers cutting their asking price has climbed every month for 7 straight months. About 42% of active listings nationwide now carry at least one price cut, and the typical national cut is about $17,560 off the original price.
Rates that are still elevated and more homes to choose from give buyers room to wait for the right number. Sellers who do not start at that number often end up adjusting anyway.
South Jersey Price Cuts: 41% of Active Listings Have One
The local number is close to the national one. Of the 3,219 active and coming soon listings entered in our five counties since March 1, 1,314 (41%) have been reduced at least once. The median reduction is $20,000 and the average is about $29,000.
| County | Active listings with a price cut | Median cut |
|---|---|---|
| Salem | 47% | $15,100 |
| Cumberland | 44% | $15,950 |
| Burlington | 42% | $20,000 |
| Camden | 40% | $20,000 |
| Gloucester | 38% | $20,000 |
Source: Bright MLS active and coming soon residential listings entered on or after March 1, 2026, September 20 data load.
Salem and Cumberland counties have the highest share of reduced listings, and the median cut there is $15,000 to $16,000, smaller than the $20,000 median in the other three counties. Gloucester County has the lowest share at 38%.
The trend matters as much as the snapshot. Among South Jersey homes that closed, the share that had a price cut before selling fell to 21% in June, then rose to 28% in August and 30% in September (through the 20th). Last year followed the same seasonal pattern, bottoming out at 20% in June and peaking at 32% in December. This year’s share is higher than the same month last year in seven of the nine months shown.
We count a cut when the final list price is below the original list price. This measure covers homes that sold, so it trails the active listing numbers above.
What South Jersey Price Cuts Mean for Sellers
A price cut is common in our market. About 4 in 10 active listings have one, and the $20,000 median is roughly 5% of the $375,000 median asking price for South Jersey homes listed in August. Homes that sold in August closed at an average of 99.2% of their original list price, so a cut does not mean a poor result.
The stronger position is pricing it right from day one. The market has shifted quickly enough this year that even a well-priced house can fall behind within a few weeks. If that happens, moving to where pricing stands today tends to bring in more buyers and helps you sell closer to true market value.
What South Jersey Price Cuts Mean for Buyers
A reduced listing in South Jersey does not mean something is wrong with the house. With 4 in 10 active listings reduced, sellers are catching up to where buyers already are. That gives you room to ask for a lower price, help with closing costs, or repairs after inspection, especially on homes that have sat for weeks. Salem and Cumberland counties have the highest share of reduced listings, at 47% and 44%.
Homes that already have a cut often have a motivated seller, so they are worth a second look.
List Prices: Down Nationally, Up in South Jersey
HousingWire Data shows list prices trending down nationally, about $26,000 below last year’s peak. That is a national figure, and HousingWire reads it as a sign that sellers are pricing more realistically from the start. Some of the decline is seasonal, since list prices typically soften each winter before rebounding in spring.
South Jersey has not seen that decline. The median original list price for homes listed in August 2026 was $375,000, up from $365,000 in August 2025, and every month from March through August this year came in above the same month last year. Asking prices are holding at the front door here, and the adjustments come after listing.
Jake Krimmel, Senior Economist at Realtor.com, describes the national market this way:
“That is good news for buyers, who are seeing lower asking prices and more room to negotiate, but it is also good news for sellers: Pricing to today’s demand is helping homes move and keeping more transactions alive in a high-rate environment.”
With rates still elevated, buyers can only stretch so far. Sellers who meet them where they are get to closing, and doing that up front is better than chasing the market with price cuts later.
National Data: Sellers Outnumber Buyers
Redfin data shows sellers now outnumber buyers nationally by about 58%, the widest gap on record. Nationally, about 7 in 10 markets now favor buyers or are trending that way.
We do not have a South Jersey version of this measure, so read it as national context. It still affects how homeowners should price their house, because buyers are comparing your listing directly against the competition. A little flexibility on closing costs or timing can be what gets your house picked. If your home has been on the market for weeks without serious offers, our guide on why homes aren’t selling covers the most common issues and how to fix them.
Bottom Line
Price cuts are common in South Jersey and close to the national pace. The share of sold homes with a cut has risen since June, while asking prices are higher than a year ago. Buyers and sellers can both use that information, and the county numbers above show where it applies most.
If you want to talk through what this means for your situation, schedule a quick call and we’ll walk through it together.
For the full picture in your county, see our county market reports for Camden, Burlington, Gloucester, Salem, and Cumberland counties.
