I recently went on a listing presentation. The seller listed with someone else at a much higher price than I suggested. The home was a 3 bedroom, 3 ½ bath home in excellent condition. It was one of the nicer homes in the neighborhood. The home was listed at $316,900 and has been on the market for 22 days.
Take a look at the data below. Considering the facts, what price would you have listed this home for? What do you think it will sell for? To make this a little interesting, I will track this sale and see what the home eventually sells for.
The person who guesses closest to the selling price the selling price will win.........drum roll please
a $20.00 Gift Card or a $20.00 donation to your favorite charity.
Good luck and thanks for taking a look.
The median sales price for homes for Dec 09 to Feb 10 was $240,000. This represents a decline of 0.8%, or $2,000, compared to the prior quarter and a decrease of 5.9% compared to the prior year. Sales prices have depreciated 4% over the last 5 years. The average listing price for sale was $312,621 for the week ending Mar 03, which represents a decline of 0.7%, or $2,060, compared to the prior week and an increase of 0.8%, or $2,408, compared to the week ending Feb 10.
| Status | Address | Beds | Baths | List Price | Sold Price | Seller Assist | Adj Sold Price |
| Active | Property #1 | 3 | 1.5 | $209,000 | |||
| Active | Property #2 | 3 | 2.5 | $225,000 | |||
| Active | Property #3 | 3 | 1.5 | $239,000 | |||
| Active | Property #4 | 3 | 2 | $244,900 | |||
| Active | Property #5 | 3 | 2.5 | $250,000 | |||
| Active | Property #6 | 3 | 2 | $269,900 | |||
| Active | Property #7 | 3 | 2 | $269,900 | |||
| Active | Property #8 | 3 | 1.5 | $278,777 | |||
| Active | Property #9 | 3 | 1.5 | $279,000 | |||
| Active | Property #10 | 3 | 2 | $279,900 | |||
| Active | Property #11 | 3 | 2 | $280,000 | |||
| Active | Property #12 | 3 | 1.5 | $309,000 | |||
| Active | Property #13 | 3 | 2.5 | $314,900 | |||
| Active | Property #14 | 3 | 3.5 | $316,900 | |||
| Active | Property #15 | 3 | 1.5 | $330,000 | |||
| Average Listing Price 3 BR | $273,145 | ||||||
| Median Listing Price 3BR | $278,777 | ||||||
| Active | Property #16 | 4 | 2 | $284,900 | |||
| Active | Property #17 | 4 | 2.5 | $290,000 | |||
| Active | Property #18 | 4 | 2 | $298,900 | |||
| Active | Property #19 | 4 | 2.5 | $309,900 | |||
| Active | Property #20 | 4 | 2.5 | $310,000 | |||
| Active | Property #21 | 4 | 2.5 | $365,000 | |||
| Active | Property #22 | 4 | 2.5 | $389,000 | |||
| Active | Property #23 | 4 | 2.5 | $400,000 | |||
| Average Listing Price 4 BR | $330,963 | ||||||
| Median Listing Price 4 BR | $309,950 | ||||||
| Sold | Property #24 | 3 | 2 | $219,900 | $208,000 | $ 3,000 | $205,000 |
| Sold | Property #25 | 3 | 1.5 | $263,333 | $222,000 | $ 7,000 | $215,000 |
| Sold | Property #26 | 3 | 1.5 | $279,900 | $278,600 | $ 4,600 | $274,000 |
| Sold | Property #27 | 3 | 2 | $289,900 | $282,500 | $282,500 | |
| Sold | Property #28 | 3 | 2.5 | $300,000 | $300,000 | $ 4,500 | $295,500 |
| Average Listing Price 3 BR | $254,400 | ||||||
| Median Listing Price 3BR | $274,000 | ||||||
| Sold | Property #29 | 4 | 2.2 | $327,000 | $322,000 | $ - | $322,000 |
| Sold | Property #30 | 4 | 2.5 | $365,000 | $340,000 | $ - | $340,000 |
| Sold | Property #31 | 4 | 3 | $389,900 | $387,000 | $ - | $387,000 |
| Sold | Property #32 | 4 | 2.5 | $410,000 | $390,000 | $ - | $390,000 |
| Average Listing Price 4 BR | $359,750 | ||||||
| Median Listing Price 4 BR | $363,500 | ||||||
| Overall Average | $303,344 | ||||||
| Overall Median | $300,000 | ||||||
Your friend in the Real Estate Business
Leander McClain, Burlington /Camden County, NJ Realtor & Real Estate Consultant, Keller Williams Realty, 1814 Route 70 E Cherry Hill, NJ 08003 856-685-1677 Direct
Search NJ & PA Home Listings @ www.NJSouthRealEstate.com
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