Find the Best Home Deals in South Jersey by Targeting Long-Sitting Listings
Want to know how to find the best deals in today’s South Jersey housing market? Here’s the secret. Focus on homes that have been sitting on the market for a while.
When listings linger, sellers get more realistic about prices. They become much more willing to negotiate terms. This is where savvy buyers are finding great opportunities in towns like Williamstown and Delran.
The Opportunity: 1 in 5 South Jersey Homes Has Had a Price Cut
According to Realtor.com, about 1 in every 5 listings (20.2%) have dropped their asking price at least once. This trend holds true across our region.
The pattern is consistent whether you’re looking in Gloucester County or Burlington County. You’ll find price reductions in every local market. You just need to know where to look – and that’s where we can help.
The Tactic: Target Homes That Have Been Listed Longest
We can identify which homes in Deptford or Voorhees have been sitting longest. These listings often present the best opportunity for discounts. After several weeks on market, sellers typically feel frustrated their home hasn’t sold.
Since many buyers overlook these listings, you might submit the only offer they receive. This gives you leverage to negotiate better terms. As Realtor.com explains:
“Less competition means fewer bidding wars and more power to negotiate the extras that add up: closing cost credits, home warranties, even repair concessions . . . these concessions can end up knocking thousands of dollars off the price of a home.”
Bankrate also highlights this seasonal opportunity:
“During the quieter fall and winter months, when fewer prospective buyers are shopping, home sellers may be more willing to lower their prices, or offer concessions, to attract those prospective buyers who are still looking.“
The data confirms this strategy works. The National Association of Realtors (NAR) shows a clear pattern: homes sitting longer sell for less compared to their original asking price.
If you’re serious about stretching your budget, these overlooked listings could be your best strategy in this market.
Even Small Discounts Add Up Quickly
While paying 94% of the original asking price might not sound huge, the savings add up fast. On a median-priced South Jersey home around $450,000, that’s about $27,000 in potential savings.
This can offset most of your closing costs. In our region, buyers typically spend $10,000-$14,000 on closing expenses including:
- Attorney fees ($1,200-$2,500)
- Inspections ($600-$2,000)
- Appraisal fees ($400-$700)
“If you’re a buyer who is hoping to strike a deal, look for homes that have been on the market for a while and that may already have lowered prices to entice buyers. You may find a motivated seller who is more willing to negotiate.”
Bottom Line
To find the best deals in South Jersey right now, look where other buyers aren’t. Focus on homes that have been sitting for weeks, not days.
With 1 in 5 sellers cutting prices and many becoming more flexible each week, these overlooked properties could save you thousands. This strategy works well in our stable regional market.
Let’s talk about finding these hidden opportunities in Pitman, Mount Laurel, or anywhere else in South Jersey that fits your needs.
