Market Conditions in 08085>Question Details

Ak, Home Buyer in 08085

At what percentage of the listing price are homes in swedesboro actually selling for?

Asked by Ak, 08085 Wed Mar 2, 2011

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Hi AK,

I'll give you those statistics but its for a broad range of homes and a number of communities as the 08085 covers a large area. Also keep in mind the market we are in consists of a number of short sales and foreclosed homes. My statistics are much different because I try very hard to educate the consumer and therefore have more realistic sellers and buyers. With that in mind, according to TReND, our local multiple listing service, there were 87 sales in the 08085 area in the past 6 months ranging in price from $36,000-$600,000. The average days on market were 131 with an overall property marketing period of 167(meaning some homes were off the market for awhile then relisted and pmp is the total days that home was listed). The average settled price to ORIGINAL list price was 90.28%. Again, please keep in mind there are a number of agents who will list homes above the actual market value hoping for the best but in the end the market value is what it is and thats the real number the buyer is going to be willing to pay. Always ask your agent to provide you with comparable sales in the neighborhood you are looking in and for the type of home you are looking at. Remember your appraisal will also give you the current market value. If you'd like to give me a more specific area I will provide you those statistics. Good luck.
1 vote Thank Flag Link Wed Mar 2, 2011
You shouild never base your offer on a percentage off a listing price, you need to assess what the house is worth in todays market and base your offer on that, you do notknow if that asking price is at market value, is way above market value or is already priced below market value. A good buyer broker can easily provide tghis info to you.

good luck with your purchase
Web Reference:
1 vote Thank Flag Link Wed Mar 2, 2011
Hello AK,
You received many good answer in a short period of time. However, some are better than others. While there are statistics that give the average, it is just that an average. Some homes are short sales, some REO or bank owned, some in GREAT condition, and others that need TLC. A fair offering price will vary from home to home even in the same development, let alone the the town. Some offers are even OVER asking price, though they are rare. If a home is marketed at a fair price to begin with, your offer should be much closer to asking price than a home that is overpriced. That is the job of your agent, to be sure you are offering a fair price, be it way below asking or closer to or even at asking price. Find the home you LOVE and then work with your agent to make the best offer, not necessarily the highest, you can.

I want to be YOUR Realtor for LIFE!
Gyle McCollam, SFR, CNHS, RCC
Realtor Associate
Coldwell Banker Elite, Realtors
408 Swedesboro Rd
Mullica Hill, NJ 08062
609.680.2326 Mobile
856.478.6400 Business
856.478.9612 Fax Website email address
Web Reference:
0 votes Thank Flag Link Wed Mar 2, 2011
Good Morning AK,

I am a local agent who works and lives in Swedesboro. The average selling price in a whole is around 95% at this point. That being the home is on the market for under 90 days. If the home has a longer "on the market" life the buyer will normally be able to offer at 85% of the asking price and the offer will more then likely be excepted. I would be happy to send you the market statistics for Swedesboro. Just let know and I will forward or stop into my office located right in Swedesboro 617 Auburn RD. and ask for me. Michele Iannella.
0 votes Thank Flag Link Wed Mar 2, 2011
Hello AK
I can tell you it has been our experience that our listings have been selling at around 97% of the listing price. Our buyers have been buying at around the same. Are you working with agent? Please feel free to contact us any time.
Israel and Carolyn Faden
Century 21 Premier
856-759-7098 cell
0 votes Thank Flag Link Wed Mar 2, 2011
To get an accurate figure, you'd need to also know what type of property (condo, single home, land) and a time frame..... and even then, the answer may not be statistically relevant or reliable enough to take action.

It's not the type of information I would provide you for free over the internet without giving the information it's proper context based on your unique situation. My concern is that you would miss use the information and make a bad or incorrect decision on an offer to purchase. You wouldn't give a sharp knife to someone without saying, be careful, it's sharp ! You wouldn't hand over a hot plate without saying, don't touch it, it's hot!

Read this..... I think it will help you REVISE the question to get the kind of answer that you're looking for.

I hope that's helpful... if so, click the "thumbs up" below,

Joe Montenigro REMAX Home Team
Broker, GRI (856)374-2800 x106
Serving Gloucester Twp, Washington Twp & South Jersey Real Estate Markets

Note- Email me directly for follow up questions or answers, I don't monitor this forum for replies.
0 votes Thank Flag Link Wed Mar 2, 2011
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