February Real Estate Numbers for Moorestown
Moorestown Real Estate Data - February 2007 vs February 2008
Homes listed for sale: 57 vs 47
Homes sold: 21 vs 08
Days on market: 85 vs 103
Average sale price: $458,085 vs $562,875
Average list price: $685,364 vs $842,792
Keep coming back to this blog to learn more about the Moorestown real estate market and local real estate trends. Or if you want a FREE consultation regarding your property and the impact the trends will have on selling it please contact me.
Based on information from TREND MLS for February 1, 2007 to February 29, 2008
Monday, June 9, 2008
Monday, May 5, 2008
Live Where You Work - Work Where You Live
As a local real estate agent I've noticed a desire of my clients to limit their commute. They want to get closer to where they live so they can spend more time with their family and become more a part of their local community. This doesn't surprise me given our busier lifestyles today and the higher costs associated with commuting. I know that is one of the perks of what I do... living where I work and working where I live.
If you are thinking about making a switch to this way of life here are a few commercial properties that are for lease in Moorestown, NJ to assist you in your efforts.
If you are thinking about making a switch to this way of life here are a few commercial properties that are for lease in Moorestown, NJ to assist you in your efforts.
- 2 units located at 66 E. Main Street, Moorestown, NJ - 700 usable S.F. & 1500 usable S.F.
- 1 unit located at 101 W. Main Street, Moorestown, NJ - 3700 S.F.
- 4 units located at 214 W. Main Street, Moorestown, NJ - 300 usable S.F. up to 1100 usable S.F. available
Wednesday, February 13, 2008
Just The Facts for Moorestown Real Estate - Slower sales and rising supply
January Real Estate Numbers for Moorestown
Moorestown Real Estate Data - January 2007 vs January 2008
Homes listed for sale: 46 vs 47
Homes sold: 16 vs 08
Days on market: 112 vs 86
Average sale price: $647,343 vs $482,112
Average list price: $590,410 vs $853,740
The January numbers for the Moorestown real estate market are in and illustrate a lower demand for homes in Moorestown when you compare January 2007 to January 2008.
Since only 8 homes in Moorestown sold this January I thought I'd share which price ranges had activity.
2 Moorestown homes sold between $200,000 to $249,999. 1 of the houses had 3 bedrooms and the other Moorestown home had 4 bedrooms.
1 Moorestown home with 3 bedrooms sold between $250,000 to $299,999.
1 Moorestown townhouse with 3 bedrooms sold between $350,000 to $399,999.
1 Moorestown home with 4 bedrooms sold between $400,000 to $449,999.
1 Moorestown home with 4 bedrooms sold between $450,000 to $499,999.
1 Moorestown home with 4 bedrooms sold between $650,000 to $699,999.
1 Moorestown home with 4 plus bedrooms sold between $1,000,000 to $1,999,999.
Of course all these homes in Moorestown had varying features, sizes and conditions which play a part in determining the sale price.
Overall, the January numbers for the Moorestown real estate market show a slowing trend and with only 9 pended sales in January a slower February 2008 could be in store. With more homes coming on the market for the spring time buyers will be in a strong position once again, yet, if you are a buyer keep in mind if a home is priced right it will sell and may even get multiple offers.
Keep coming back to this blog to learn more about the Moorestown real estate market and local real estate trends. Or if you want a FREE consultation regarding your property and the impact the trends will have on selling it please contact me.
Based on information from TREND MLS for January 1, 2007 to January 31, 2008
Moorestown Real Estate Data - January 2007 vs January 2008
Homes listed for sale: 46 vs 47
Homes sold: 16 vs 08
Days on market: 112 vs 86
Average sale price: $647,343 vs $482,112
Average list price: $590,410 vs $853,740
The January numbers for the Moorestown real estate market are in and illustrate a lower demand for homes in Moorestown when you compare January 2007 to January 2008.
Since only 8 homes in Moorestown sold this January I thought I'd share which price ranges had activity.
2 Moorestown homes sold between $200,000 to $249,999. 1 of the houses had 3 bedrooms and the other Moorestown home had 4 bedrooms.
1 Moorestown home with 3 bedrooms sold between $250,000 to $299,999.
1 Moorestown townhouse with 3 bedrooms sold between $350,000 to $399,999.
1 Moorestown home with 4 bedrooms sold between $400,000 to $449,999.
1 Moorestown home with 4 bedrooms sold between $450,000 to $499,999.
1 Moorestown home with 4 bedrooms sold between $650,000 to $699,999.
1 Moorestown home with 4 plus bedrooms sold between $1,000,000 to $1,999,999.
Of course all these homes in Moorestown had varying features, sizes and conditions which play a part in determining the sale price.
Overall, the January numbers for the Moorestown real estate market show a slowing trend and with only 9 pended sales in January a slower February 2008 could be in store. With more homes coming on the market for the spring time buyers will be in a strong position once again, yet, if you are a buyer keep in mind if a home is priced right it will sell and may even get multiple offers.
Keep coming back to this blog to learn more about the Moorestown real estate market and local real estate trends. Or if you want a FREE consultation regarding your property and the impact the trends will have on selling it please contact me.
Based on information from TREND MLS for January 1, 2007 to January 31, 2008
Friday, February 1, 2008
BUYER ALERT - Moorestown, NJ 08057
This is a new feature I am testing on my Blog to connect buyers and sellers in Moorestown and the surrounding towns. The purpose of the Buyer Alert is to notify potential sellers about a qualified buyer and assist buyers find their dream home. This notification of a buyer is done at their direction and has been undertaken because we have visited multiple homes in their search area, but still have not found what they are looking for in a home.
Qualifications of Moorestown home buyer:
Please contact me if you are interested in exploring if your home would work for these buyers. We can discuss next steps and complete a comparative market analysis.
It should also be noted that if your property is currently listed with another real estate broker this is not a solicitation of that listing.
BUYER ALERT for Moorestown, NJ homeowners.
My buyer is looking for a home in Moorestown that has:
>Minimum of 3 bedrooms
>Minimum of 1.5 baths, but preferable 2 full baths
>Close enough to Main Street to walk or bike
>Area (basement/ garage/ attic) large enough that can be finished
Qualifications of Moorestown home buyer:
>Ideal purchase price range is $350,000 to $450,000
>Maximum price they could pay would be $500,000
>Does the buyer need to sell a property? No
>When can the buyer settle on the home? April/ May
>Will they be financing 80% or less? Yes
Please contact me if you are interested in exploring if your home would work for these buyers. We can discuss next steps and complete a comparative market analysis.
Friday, January 18, 2008
Just The Facts for Moorestown Real Estate - Revised 2007 Data Just In
Sometimes the data regarding the Moorestown real estate is revised depending on how quickly agents follow up with TREND MLS and post their sales to the real estate database. With this in mind here are some revised Moorestown real estate numbers for 2007.
I reported earlier that the average sale price for a Moorestown home during 2007 dropped about 1% versus 2006. This was revised down further to about 3.5%. This is a lower average sale price for Moorestown homes, but it still remains historically high from a total dollar point of view.
An additional revision was the number of transactions or homes sold in Moorestown for 2007 versus 2006. I reported earlier that the total number of homes sold in Moorestown rose by 14 units. This was also revised, but revised up to about 17 transactions.
Therefore, my point still remains true from my earlier Moorestown real estate blog entry that demand for Moorestown homes is up; however, the returns are flat to slightly down versus 2006. From my perspective, this is a supply story - buyers have more to select from so it is putting pressure on sellers regarding the pricing of their home.
Keep coming back to this blog to learn more about the Moorestown real estate market and local real estate trends. If you want a FREE consultation regarding your property and the impact the trends in your town will have on selling it please contact me. Or if you are preparing to buy a home and want a FREE workbook - “Preparing to Buy a Home” - please e-mail me your name and mailing address.
Happy house hunting and I look forwad to assisting you with your real estate questions.
Based on information from TREND MLS for December 1, 2006 to December 31, 2007
I reported earlier that the average sale price for a Moorestown home during 2007 dropped about 1% versus 2006. This was revised down further to about 3.5%. This is a lower average sale price for Moorestown homes, but it still remains historically high from a total dollar point of view.
An additional revision was the number of transactions or homes sold in Moorestown for 2007 versus 2006. I reported earlier that the total number of homes sold in Moorestown rose by 14 units. This was also revised, but revised up to about 17 transactions.
Therefore, my point still remains true from my earlier Moorestown real estate blog entry that demand for Moorestown homes is up; however, the returns are flat to slightly down versus 2006. From my perspective, this is a supply story - buyers have more to select from so it is putting pressure on sellers regarding the pricing of their home.
Keep coming back to this blog to learn more about the Moorestown real estate market and local real estate trends. If you want a FREE consultation regarding your property and the impact the trends in your town will have on selling it please contact me. Or if you are preparing to buy a home and want a FREE workbook - “Preparing to Buy a Home” - please e-mail me your name and mailing address.
Happy house hunting and I look forwad to assisting you with your real estate questions.
Based on information from TREND MLS for December 1, 2006 to December 31, 2007
Wednesday, January 16, 2008
Moorestown Real Estate Revaluation
It has been some time since Moorestown has gone through a complete revaluation – I believe back in the 1980s was the last time when the entire town's home assessments were recalculated.
So why a revaluation? Since it has been so long since our last revaluation the current assessments in the municipality are no longer uniform and representative of 100% of their true market value. Therefore, a revaluation fairly redistributes the necessary tax burden among all property owners based upon the true value of their property. Of course this was written into law as well so their is no way around it.
If you haven't heard... the Moorestown revaluation is completed. It appears Moorestown residents are now receiving them and are a hot topic around our office and the local coffee shops. One of my friends say their taxes actually stayed the same; however, another one of my Moorestown friends had their taxes go up by about $400. I have not received mine yet, but I look forward to reviewing it and appealing it if it wasn't valued properly.
By the way, rumor has it that Moorestown Township was inundated with calls from the first batch of reassessments mailed out so start your appeal process early.
If you have questions regarding your new assessed value and are considering an appeal, regardless if you are residential or commercial real estate owner, feel free to contact me. If for reason I cannot help you I will make sure I introduce you to someone who can. I look forward to answering your questions.
Here is the link to the company that Moorestown hired to do the revaluation and the posted values and sales values for your home - Appraisal Systems, Inc.
Best of luck!
So why a revaluation? Since it has been so long since our last revaluation the current assessments in the municipality are no longer uniform and representative of 100% of their true market value. Therefore, a revaluation fairly redistributes the necessary tax burden among all property owners based upon the true value of their property. Of course this was written into law as well so their is no way around it.
If you haven't heard... the Moorestown revaluation is completed. It appears Moorestown residents are now receiving them and are a hot topic around our office and the local coffee shops. One of my friends say their taxes actually stayed the same; however, another one of my Moorestown friends had their taxes go up by about $400. I have not received mine yet, but I look forward to reviewing it and appealing it if it wasn't valued properly.
By the way, rumor has it that Moorestown Township was inundated with calls from the first batch of reassessments mailed out so start your appeal process early.
If you have questions regarding your new assessed value and are considering an appeal, regardless if you are residential or commercial real estate owner, feel free to contact me. If for reason I cannot help you I will make sure I introduce you to someone who can. I look forward to answering your questions.
Here is the link to the company that Moorestown hired to do the revaluation and the posted values and sales values for your home - Appraisal Systems, Inc.
Best of luck!
Sunday, January 13, 2008
First Time Homebuyers Misconception of Moorestown
Many first time homebuyers I work with typically want to stay in the $250,000.00 range and below. They provide me a list of towns they would like to buy in, but rarely consider Moorestown. This perception that there are no opportunities to buy in Moorestown below $250,000.00 is false.
In 2007 close to 40 homes sold in Moorestown from $250,000.00 and below. These homes were a mix of twins, townhouses, condos and single-family detached homes. Even as I write this there is a great 2 bedroom, 1 full bath home with a garage on Collins Avenue.
Yes, there are usually fewer options (less supply) in this price range and it will take you longer to find a home in Moorestown in this price range. However, you should consider the town a smart investment given the blue ribbon schools and steady appreciation of property values since 1999.
With all this in mind Moorestown doesn’t work for all my clients because they may need more bedrooms, new construction or closer proximity to work or family. When this is the case we are usually looking at neighborhoods in Merchantville, Pine Hill, Audubon, Collingswood, Haddon Heights, Haddon Township, Berlin and the surrounding towns.
Regardless of where you are looking you should begin to review how you are managing your money and using your credit. For all my clients I provide them a FREE workbook - “Preparing to Buy a Home”. Just e-mail me your name and mailing address.
Happy house hunting! Please check back for other helpful tips on buying your first home.
In 2007 close to 40 homes sold in Moorestown from $250,000.00 and below. These homes were a mix of twins, townhouses, condos and single-family detached homes. Even as I write this there is a great 2 bedroom, 1 full bath home with a garage on Collins Avenue.
Yes, there are usually fewer options (less supply) in this price range and it will take you longer to find a home in Moorestown in this price range. However, you should consider the town a smart investment given the blue ribbon schools and steady appreciation of property values since 1999.
With all this in mind Moorestown doesn’t work for all my clients because they may need more bedrooms, new construction or closer proximity to work or family. When this is the case we are usually looking at neighborhoods in Merchantville, Pine Hill, Audubon, Collingswood, Haddon Heights, Haddon Township, Berlin and the surrounding towns.
Regardless of where you are looking you should begin to review how you are managing your money and using your credit. For all my clients I provide them a FREE workbook - “Preparing to Buy a Home”. Just e-mail me your name and mailing address.
Happy house hunting! Please check back for other helpful tips on buying your first home.
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