South Jersey Real Estate Update
Looking to buy or sell a home in South Jersey? The real estate market in the area is booming.
Get all the details you need about real estate in South Jersey below.
Market Forecast & Real Estate Stats
Here are the latest statistics recorded from 2019 about the major cities and regions in South Jersey.
- Home values in Cherry Hill grew by 3.6% to $274,640 in 2019, and are expected to grow 3.3% year over year
- Home values in the Philadelphia-Camden-Wilmington Metro grew by 3.2% to $248,010 and are expected to grow 2.6% year over year
- Home values in Atlantic City grew by 13.2% to $111,561, and are expected to grow by 5.7% year over year
- Home values in Burlington Township grew by 3.4% to $216,932, and are expected to grow by 2% year over year
- Home values in Vineland fell by 0.4% to $159,084, but are expected to grow by 2.4% year over year
The overall real estate outlook in South Jersey depends on the area.
Areas like Cherry Hill and the Philadelphia-Camden-Wilmington Metro are expected to maintain strong growth, while demand is softening in Atlantic City, Vineland, and a few other areas.
Most & Least Expensive Areas
A few of the most expensive areas to live in New Jersey include:
- Cherry Hill – Median home value of $274,640
- Philadelphia-Camden-Wilmington Metro – Median home value of $248,010
- Burlington Township – $216,932
The least expensive areas to live in New Jersey include:
- Vineland – Median home value of $159,084
- Millville – Median home value of $118,735
- Camden – Median home value of $61,388
Is It Time To Buy Or Sell?
This depends on your area of South Jersey. Some areas, like Burlington Township, are seller’s markets with plenty of housing stock.
Others, like Atlantic City, are being affected by softening demand, making them better markets for buyers. Contact a local agent to learn more.