Have you been wanting to buy a home in Collingswood or Haddon Township? There's something important we need to talk about 👇
Okay, this may be a slight exaggeration… obviously people have always been buying homes in Blackwood, Magnolia, Runnemede, Clementon, Gloucester City and those other South Jersey towns that don’t get as many Zillow searches as the 08108 zipcode.
But with average sold prices of around $500,000 (for May 2024), first time buyers are officially priced out of Haddon Township and Collingswood (and neighboring Haddonfield has an average sold price of nearly $1m!). Even Audubon and Oaklyn, which were many folks’ “back up” towns, have an extremely high entry price. Gone are the days of finding a Collingswood twin for <$200k.
The good news? The average sold price of a home in Magnolia is $325k. Bellmawr is $260k. Gloucester City has some incredibly cute homes and their avg sold price for May was $225k! There’s opportunities out there… you just need to look slightly out of 08108.
It's time to play the long game, meaning you buy a home that's 15-20 minutes away from your ultimate desired neighborhood, live in that home for a few years and build up equity, and that equity is your ticket into the beautiful Collingswood home of your dreams... it just might take 5-10 years, but it'll be oh-so worth it in the end.
Got questions about buying a home in South Jersey and building up equity? You can message The JFKLiving Team here.
