how many showings can I expect in this market for a well-priced home that is listed at 480K?

Asked by Eiram21, Sewell, NJ Sat May 30, 2009

Help the community by answering this question:

+ web reference
Web reference:

Answers

7
Bridget Cella…, , Turnersville, NJ
Wed Jul 1, 2009
Your price range is a difficult one in today's market. The number of showings will not be as many as a home priced under $200,000. with the last blog I posted on my Active Rain blog, for a home over $400,000 you can expect to be on the market for 35 months!

I would check with your agent to be sure you are well-priced! If not you can expect to be staying put for a while!

Here is the link to my blog!

http://activerain.com/blogsview/1124884/gloucester-county-nj…
0 votes
Michael Defi…, , Mullica Hill, NJ
Thu Jun 11, 2009
Hi Eiram, as everyone else here is saying it is hard to answer this question without knowing more about the property. However if it is correctly priced you should get around 1 to 2 showings a week. A lot of this not only has to do with the pricing but also with how well your property is being marketed. If you have an agent then you should ask them what they are doing to market your property. If not I have a full team of four people using our combined knowledge to break into every corner of publicity including newspaper adds, signs, weekly Open Houses, mailings, Craigslist, Realtor.com, Visual Tours, Featured Homes, and
my own TWO personal websites to optimize viewings of the home and get it sold. If you do need help with this you should give my website a look.
Web Reference:  http://www.yourflipteam.com
0 votes
Nicholas Chr…, Agent, SEWELL, NJ
Fri Jun 5, 2009
This is a very tought question to answer. Is the home in Mantua or Washington Twp? It depends on the size of the home and what comparable homes have sold for in the past 3 months. In addition where is the home being advertised? There should be a major web presence featuring the property. I have a home in the same price range, and I'm experiencing up and downs with showings. I usually average 1 per week though. Our market has picked up within the past couple of months. I hope I was able to answer your question.
0 votes
Joanne, , Ocean County, NJ
Sun May 31, 2009
Good Morning Eiram21, Jodi answering here. My first question is "are you marketing your own home? or did you employ the services of a Real Estate Professional in your area? In either case timing is critical in this environment. If you are marketing on your own, then I would have to strongly suggest that you do your homework. By that I mean go into serious market research for your particular South Jersey Market Area. Research thru your County Clerk what has sold in your area in the past year. Also research the number of homes that have been listed, expired, or withdrawn from the market. If you have employed the services of a Professional, and you have confidence in this Professional as far as experience, education, and their success rate, then allow them to do their job, and listen. You need to be honest, to yourself & or to the Professional that may be marketing your property. This may look easy, it is not, especially now, unless homes are in demand in your market area, and supply is low. That is not the case here in Central New Jersey, or Central Jersey Shore. We have backed up inventory, and a motivated Seller that needs to move on to be realistic about it, and about how soon they need or want to move on. Buyers are dictating the price in many instances, and dictating the market. If your time line in moving is critical, then you do not want to be behing the market your want to be in front of the market. If that means coming in at a price point slightly lower, this month then the statistics in your market are showing, then if you are truly motivated, be ahead of the market decline index. Be intelligent. If you hired a Professional, then they will know how to guide you. They are out in the field every day. Allow them to do what they know how to do, believe me, we take our Profession and our clients needs very seriously. Right now, it is about Price, Taxes, and the Economy, and affordability. Buyers are not going to over extend in this economy. They both need nd want more monthly disposable income, and are not willing to over extend. What your home has to offer as far as up grades, and square footage and property are key. Age of the home. Are you competing with New Construction at almosts comparable prices. Are you motivated to sell, what are your reasons for selling. Are you looking to stay in the same area, but move up yourself as well. What are the things that attracted your to your home? What would be the qualities that you would now want in a home ? If you have a fair amount of showings and no offers, and yur Realtor sees that other properties have gone under contract, then you need to revisit, like , quality, kind and price. Be open minded , listen to suggestions. Be relistic about your market. Are buyers in quanity there? I wish the Best of Luck and hope yur are successful in marketing and closing your home.

Best Regards,

Joanne "Jodi"Fridson GRI, ABR EPRO, NOTARY OF NEW JERSEY, CIRCLE OF EXCELLENCE BRONZE 2006
KELLER WILLIAMS
0 votes
William Leigh…, , New Jersey
Sun May 31, 2009
Eiram21: I can't speak for Sewell as a specific locality but in Princeton, a WELL PRICED house listed with a Realtor can expect at least 5 showings a week. It may take a week or two to get recognized.

The same house should get an offer in 12 to 20 showings. If not, there are three possible answers. First, it shows poorly and needs fixing up. Secondly, it is not really "WELL PRICED." Third is has a uniqueness about it that will only appeal to a very few. A two-bedroom house in this range, for example. A location that is unattractive.

If problems one or two come up, fix them. If problem three does, price cures all ills but patience may be a less costly alternative.
0 votes
Marc Paolella, Agent, Succasunna, NJ
Sat May 30, 2009
Eiram,

The number of showings will tell you if it is well-priced. If you are getting few showings, the market has determined that it is not well priced. A really correctly priced home will generate many showings in the first two weeks. Many meaning at least 10 a week for most suburban markets. Your first open house should generate a lot of traffic (10+ visitors) if you are well priced. If 3 people dribble in, your price is probably too high. If you only get 5 showings or so the first 2-3 weeks, you're overpriced.

-Marc

Marc Paolella
Relocation Director
Member, Worldwide ERC
Licensed Realtor NJ
Licensed Appraiser NJ & NY
Century 21 Joe Tekula Realtors
Agent of the Year 2008
Owner: Sands Appraisal Service, Inc.
Phone (direct): (973) 584-4235
Search the Garden State MLS: http://www.marcpaolella.com/SearchMLS
0 votes
Jennifer Gor…, , Schofield, WI
Sat May 30, 2009
Hi. Jennifer here. I need some geographic information to best answer your question. 480K can be a starter home or a high end home depending on where it is located. I see that you are on the East Coast and I am going to assume that 480K is relatively affordable by you. If I am correct and you are priced right, I would expect that in this economy you should average a showing a week. The best thing you can do to determine if you are on track is to contact a realtor in your area and have them show you on a chart how many homes are for sale and how many homes have sold in your price range over the last few months. Good luck!
0 votes
Search Advice
Search
Ask our community a question
Home Selling in Sewell Zip Codes

Email me when…

Learn more