oakey, where in NJ are you.
From mile 100ish to 129ish, you are in the ballpark. it's a cheap ballpark, but that's what it is.
from 130ish to 150ish, you're a little low.
from 150ish to 165ish, you're way low
from 165ish to NY state, you are probably high.
south of mile 100, you'd be better off scraping barnacles than trying to make money doing electrical work.
For this project we'd be around $2000-$2500. Heck we'd be at $1400-$1500 just for the panel change. Then again we'd use SQ D QO and you would never know we were there. But there will always be someone cheaper.
A guy who knows the game really well once told me....if you are doing residential new construction/renovations, you are dealing with the bottom of the barrel. Get used to it. (or something along those lines)
the $$$$ are that there is no way someone can legitmately do it for less than you. They either low balled it and will bang the hell out of the HO for CO. In my opinion, that makes them a scumbag. Or they missed something. Or they believed the BS they read about guys making money charging $45/hr (without realizing that those guys have 100 men in the field and make $10/hr on each man - or $1000 an hour to cover OH)
Regardless of the reason, don't cut your own throat to compete. Hell, you'd be better off going to work for someone else than dropping your pants to compete. At least then you'd get a paycheck, benefits and vacation.
You know Al?
edit- realized i was thinking of another job in regards to our pricing. We'd be over $2000 on this job without batting an eye