Short Answer
The luxury market in South Jersey, typically defined as homes over $700,000 to $1 million, is active but less competitive than the mid-range market. Luxury homes in desirable towns like Moorestown, Haddonfield, Medford, and Cherry Hill attract buyers seeking premium properties with larger lots, custom features, and prime locations. Inventory is typically higher in the luxury segment, giving buyers more options and negotiating power.
South Jersey's luxury market is concentrated in the most desirable towns and neighborhoods. In Moorestown, luxury homes above $1 million are found in the most prestigious neighborhoods, often featuring historic estates, custom-built homes, and properties on large lots. Haddonfield's luxury market is focused on the historic district and the larger homes near the town center. Medford has luxury properties on the lakes and in the estate areas. Cherry Hill has luxury homes in the eastern neighborhoods near the country clubs. The luxury market typically has more months of supply than the overall market, meaning buyers have more choices and less competition. Sellers need to price their homes accurately and present them well, as luxury buyers are discerning and have high expectations. Marketing luxury homes requires a different approach, including professional photography, virtual tours, targeted digital marketing, and often off-market networking. The luxury market has been relatively stable in South Jersey, with steady demand from professionals, business owners, and retirees seeking premium properties.
Bob's Advice
Redfin Senior Agent · AI Certified Agent
The luxury market is different from the rest of the market. Buyers are more discerning, and sellers need to present their homes at the highest level. I have experience marketing and selling luxury properties in South Jersey's most prestigious neighborhoods. If you are buying or selling a luxury home, you need a strategy tailored to this segment. Let me share my approach.
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