Market Conditions in 08033>Question Details

Jolanta, Other/Just Looking in 60612

What are market conditions like for 700K to 900K houses, homes on market, sales, per sf. ft prices, difference between list and sold price ?

Asked by Jolanta, 60612 Sun Oct 10, 2010

Length of time for houses on market, and declines between 2005 and 2010. So if a house sold for a million in 2005 how much will it sell for today ?

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4
Jolanta,

Just noticed the rest of your question! The average property marketing period for a Haddonfield home to sell is 144 days. Note: Property Marketing Period is different than days on market as it counts from the time a property was first listed including breaks of 30 days or less.) The average price of a Haddonfield home in 2005 was $519,185. We actually peaked in 2007 with the average sale going for $545,826. By year-end 2009, we were down to $445,764 (12.8% down from year-end 2008 and our worst decline). As I mentioned in my earlier post, we're currently up 2.2% over 2009 year-end.

Another interesting statistic on the $1,000,000+ Haddonfield market. The average property marketing period is 258 days and homes are selling for 69.1% of original list price.

Let me know if you have further questions or I can assist with your real estate needs!

Best Regards,
Kathi Boggs-Shaner
Prudential Fox & Roach Realtors
Haddonfield, NJ 08033
katling@comcast.net
Direct: 856-616-7131
Ofc: 856-428-2600
0 votes Thank Flag Link Sun Oct 10, 2010
On the assumption that you're not looking in zip code 60612 Chicago ???!!???

There are appx 46 homes in Camden county from $700 to $900k selling at a rate of appx 1 to 2 per month. This 46 month "inventory accumulation" means it's a ridiculously strong buyer's market.... good for you, bad for the sellers. Average DOM is 89.

You can see the currently available homes in Haddonfield from $700 to $900k here... http://idx.diversesolutions.com/link/102654 You can set up your own search criteria to include Cherry Hill or other towns that you want to consider..... I'm assuming you're "just looking" to buy a home and not sell your home.

As for what the million dollar home in 2005 might sell for today, I don't think I can answer that question with any degree of accuracy, unless I were to see or drive by the home. I can do a drive by Broker price opinion for $150 and my report will give you my opinion of the value. If you just want a ballpark guesstimate, try Zillow.com.

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

Joe
---------------------------------
Joe Montenigro REMAX Home Team
Broker, GRI (856)374-2800 x106
Serving Gloucester Twp, Washington Twp & South Jersey Real Estate Markets
Read my Blog at http://hometeamNJ.com/blog
My Tours: http://hometeamnj.com/search/virtual-tours

Note- Email me directly for follow up questions or answers, I don't monitor this forum for replies.
0 votes Thank Flag Link Sun Oct 10, 2010
HI Jolanta,

As a resident and Haddonfield realtor, I follow the Haddonfield market closely. I pull my statistics from TrendMLS and format them to my clients' specific needs. 10% (12 homes) of all Haddonfield home sales fell in the $601,000 to $750,000 while current active inventory for that price range (19 homes) represents 15% of available properties. The $751,000 - $999,999 price range contributed to 11% of Haddonfield home sales (13 homes), while active listings represents 15% of current inventory 20 homes).

Total inventoy is 130 homes. We've sold 115 homes to date this year. Overall, Haddonfield home values average $456,389, which is down -0.2% over Jan - Oct 2009, but up over year-end 2009 by 2.2%. When analyzing individual home sale data property marketing period/original price against sold price (vs. days on market/orig list price - big difference!) we're coming in 83.8% UNDER original list and 90.3% UNDER assessed values (based on 2007 re-assessment). Price per square foot is all over the place. Much has to do with how improved a home is. Just in one section (Haddonfield Estates), price per square foot ranges from $145 sq. ft to $228 sq ft.

Hope this is helpful! Always happy to help with any questions or real estate needs!


Kathi Boggs-Shaner
Prudential Fox & Roach Realtors
Haddonfield, NJ
0 votes Thank Flag Link Sun Oct 10, 2010
Hello Jolanta,
Thanks for your questions.
Here is a link to the current market on 700 to 900K homes in Haddonfield.

http://www.trendmls.com/MLS/Report/MemberListingReport.aspx

The sold homes in 2005 were:
http://www.trendmls.com/MLS/Report/MemberListingReport.aspx

I will be glad to answer any other questions.

Regards,
Ines De La Cruz
RE/MAX Connection
inesdelacruz@remax.net
609-313-8518
Web Reference: http://www.inesdelacruz.com
0 votes Thank Flag Link Sun Oct 10, 2010
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