Hi Jim,
Good question -- and one most homeowners are asking. The average home value in Moorestown in 2006 was $568,028 and reflects the peak of the market. As of the end of 2008 (the last full year recorded), the average home value had dropped to $534,894 which was a decline of almost 6 percent. Homes prices have continued to decline in Moorestown into 2009, with declines from May 2009 year to date sales down 3% when compared to the same period in 2008. That being said, housing prices in Moorestown have held very well throughout this period of economic unrest. Owning a home in Moorestown remains a great investment...and it's a nice place to live!

This information has been compiled using Trend/MLS data for Moorestown, NJ.

I'm a resident, prices in Moorestown are down about -15% from the top of the market. It has held up better than just about any town you want to look at. A good time to buy in Moorestown is when you can negotiate price, but it does depend where the property is located. In general you'll get less house for your money in town center and much more house in West Moorestown/Lenola section. The developments on the edges of town offer bigger homes/newer construction but they might be outside your price range. If you are looking in town be very careful about the shape the property is in. My neighbor bought a $775K victorian fixer upper. Make sure you know what you are getting. If it looks too good to be true it is, especially in Moorestown. Also be aware that traffic has picked up considerably in town, don't buy anything on a main road. Good luck.

Hi Joe,

The numbers that I posted did not format correctly.

Please go to the following link to read the full report.

http://JoeF.JeffAgent.com

Thanks,
Jeff

Joe:
The statistics that you have been fed are worthless. Days on Market, the best indicator you were given, has risen substantially from 74 to 103. This means it's harder to find a buyer and to close. It does not mean that anyone has reduced their property pricing and in fact may indicate that they haven’t and can't find a buyer.

The average price difference may be the result of a failure to sell just one multimillion dollar home compared to the previous period and/or the selling a few more of the smaller, older homes in the other end of the township.
If you take a ride around, you will see a lot of signs that look "weathered." They've been up for a long time. The owners may not be ready for a fire sale. They can wait for the "right" offer. In our office, we've been trying to get houses that are not getting offers OFF the market. This will lower the glut of unsold homes and may get the buying-selling ratio back into more comfortable territory.

The bottom line: There are no statistics that truly weigh the different mix of prices from time to time. There are comparables that you can "sort of" use, but in areas such as the old houses on Maple and Oak, for example, each one is quite unique and the prices may be only vaguely comparable. In three recent sales on Golf View, the properties were completely redone and in one case, to the extent of demolishing a million dollar home to erect another. Nothing comparable to that lately!

If you want to buy in Moorestown, now is a very good time but you have to weigh very carefully what prices represent a good bargain for you for the kind of home you want to live in and in what end of the township. Realtors can provide comparable sales for the last six years and all the current offerings in township. If you find a deal you like, you should go for it.

I spend several days a week in Moorestown. If you're looking for specific advice, we can always talk.

Joe, According to the Market Statistics function in the MLS the average price of a home sold in Moorestown in 2006 was $568,028. There were 221 sold and the average Days on market was 74. In 2008, the average price had declined to $533,831 with 190 sales and the average days on market had increased to 103. Is that the information you wanted? This kind of information is readily available to realtors but I am not sure where a consumer would obtain this data. If you wanted some other kind of information call or email me and I would be happy to delve deeper. Of course these statistics are for all price ranges and you will generally see a steeper decline in the upper levels than you would in the lower price ranges. Overall, Moorestown has help up very well against the national averages!

The answer is call a real estate pro. They'll respect your privacy.
Ask them for a Trend Analysis not a CMA...
This will show you almost exactly what is happening in your neighborhood.
What the past prices are present prices are and what the future prices will most probable be.
It will give yo a direction and more accurate account than a simple CMA.

Larry Sarlo
Weichert Realtors
Turnersville, NJ
609-868-1171 http://www.searchcamdencounty.com

Hi Joe,

Here are some stats that might interest you. Please call or email if you'd like the monthly details that make up these numbers.

Thanks,
Jeff Adams
Keller Williams Realty - Cherry Hill
856-524-2800 (Cell)
856-321-1212 x333 (Ofc) http://www.JeffAgent.com http://www.AdamsHomeSearch.com


Date Units Listed Listed Pending Units Sold Sold Average
Listed Volume Average Sold Volume Average DaysOnMkt
-------------------------------------------------------------------------------------------------------------------------------------------

YR2006: 525 346,572,766 660,138 227 221 125,534,374 568,028 74


YTD2009 475 324,491,394 683,139 189 189 100,094,303 529,599 103
February 2008
to
February 2009

Mr. Fantini,
The local MLS does have a Statistical Database that contains quarterly reports beginning in 2004 that might be of some help. As a Realtor I have access to this information and will be happy to send you the .pdf file for Burlington County.

It is broken down by zip code so its possible to isolate Moorestown. The information includes Average Price , Price Change (1 year) , Total # of Homes Sold (Quarter), % of change in Homes Sold (1 year) and Average Days on Market.

If this would be any help please call me so I can get your details.

Marilyn Geiger
Weichert Realtors
Cell: 609-238-0465
email: mgeiger@weichert.com

I am not sure what you mean, Joe. Value is whatever someone would be willing to pay you for the house, that's why real estate agents use a Comparative Marketing Analysis and not an apprasial. I am not going to peel off data from the MLS and crunch the numbers for you but, whatever you think was the "VALUE" back in December 2006, take 25% off of that number for today's value(IMHO).