By Mike Lentz | The Mike Lentz Team - Keller Williams Realty
Luxury home sales in South Jersey rose about 15 percent over the past twelve months while sales under $250,000 fell about 8 percent. The national split is real here and sharper than the headlines suggest at the bottom of the market. Higher rates have pulled first-time buyers out of the market while high-end buyers, less sensitive to financing, keep buying.
Luxury home sales are climbing across Camden, Burlington, Gloucester, Salem, and Cumberland counties while entry-level properties struggle to attract the same buyer activity. Ask a couple of people how the housing market is doing right now and you’ll get very different answers, because the market is running on two tracks split by price point. The story your neighbor tells depends on which segment they are selling in.
Knowing which track your house is on changes everything about your sale. It affects your asking price and how long you should expect to wait for an offer. Here is what the local numbers show.
Luxury Home Sales Are Accelerating While Entry-Level Homes Lag
Rates and buyer competition are shaping this market differently depending on price point. Look at recent sales data from the National Association of Realtors (NAR) and the pattern jumps right out. Homes priced under $250,000 saw sales drop 2 to 3 percent nationally versus last year, while homes priced above $750,000 climbed by double digits (see graph below):
The South Jersey Numbers Are Sharper Than the National Ones
We ran the same cut against Bright MLS closed sales across Gloucester, Camden, Burlington, Salem, and Cumberland counties for the twelve months ending August 31, 2026, and compared it to the twelve months before that. The direction matches the national story. At the bottom of the market, the magnitude does not.
| Price band | Prior 12 mo closings | Last 12 mo closings | Year over year |
|---|---|---|---|
| Under $250,000 | 3,256 | 2,988 | -8.2% |
| $250,000 to $400,000 | 6,675 | 6,502 | -2.6% |
| $400,000 to $750,000 | 5,335 | 5,732 | +7.4% |
| $750,000 and above | 805 | 922 | +14.5% |
The bottom of the market lost roughly three times what NAR reported nationally. The top of the market posted double-digit growth in line with the national number. Total volume in the region held nearly flat because about 268 sales came out of the entry-level tier and about 117 were added at the top. The mix shifted upward, not the total.
Why the Luxury Home Sales Split Is Real Here
Higher rates and the last few years of home price appreciation mean fewer first-time buyers can comfortably afford homes at the entry-level price point. In August 2026, the median closed sale price ran $399,900 in Camden County (up 8.1 percent year over year), $415,000 in Burlington, and $390,000 in Gloucester, based on Bright MLS closed sales. That leaves a much smaller pool of buyers who can qualify for the bottom of the market, and a widening opening at the top.
Buyers looking for higher-priced homes feel less of that pressure. They usually carry more equity from a current home, benefit from a strong stock market, and are less sensitive to a 6 or 7 percent mortgage rate. Lower-priced homes are still selling. They are just moving through a shrunken buyer pool while luxury home sales pick up the volume the entry-level tier is losing.
Pricing and Presentation Matter More Than Ever
This is exactly why pricing strategy and presentation carry more weight than they used to, especially in the entry-level range. Price it right from the start instead of testing a high number. Make sure it shows well online and in person. Lean on an agent who can get your listing in front of every buyer shopping in your range. That is how you catch the attention of the buyers who are still looking, and how you prove your home is worth its price.
Luxury Home Sales Are Moving Faster Than the Rest of the Market
Speed is shifting by price point too. For years, luxury homes sat longer than starter homes. That gap has nearly closed nationally, according to Redfin (see chart below):
As Zillow puts it:
“The U.S. housing market is splitting in two. Luxury homes are selling at a faster pace than a year ago, with shrinking supply and growing bidding wars.”
In the Philadelphia Commuter Counties, Luxury Is the Fastest Segment
Local Bright MLS data for the twelve months ending August 31, 2026 shows the same shift, and it is most pronounced in the counties with the deepest buyer pools:
| County | Median DOM, $750K+ | Median DOM, rest of market |
|---|---|---|
| Camden | 13 days | 19 days |
| Burlington | 14 days | 20 days |
| Gloucester | 18 days | 18 days |
Camden and Burlington are the Philadelphia commuter markets, and both show high-end homes going under contract roughly six days faster than everything else. Gloucester runs flat between the two. If your home falls in that top tier in Camden or Burlington, expect real competition when a well-priced listing hits, including the possibility of multiple offers. That changes how a listing should be marketed and priced from day one.
Understanding how long it takes to sell in your price range helps you plan every step of the process.
What This Split in Luxury Home Sales Means for Your Sale
If you are thinking about selling an entry-level home, do not panic. Homes at your price point are still selling, they are just moving slower than a year ago. Median days on market for South Jersey homes under $250,000 rose from 40 to 49 over the past year. That slower pace is exactly why pricing and presentation matter more right now.
If you are selling a move-up or luxury house, especially in Camden or Burlington County, you are in a good spot. Luxury home sales in those two counties are moving faster than the rest of their markets, and buyers at your price point are less affected by today’s rates. Well-priced listings are drawing real competition.
Either way, your price point is the single biggest factor in how fast your house sells and what it sells for.
Bottom Line
Your home’s price point is the real story right now, more than anything you are hearing in national headlines. The South Jersey market has split into two distinct tracks. Luxury home sales are outpacing entry-level properties in nearly every key metric, and the divergence is sharper here than the national numbers show. If you want to talk through what this means for your county and your price point, 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.
