Cedar Grove Farms PA Market Update

Cedar Grove Farms is a private smaller community of single family homes located just off Cedar Grove Rd in Marple Township Broomall PA.

Cedar Grove Farms Broomall PACedar Grove Farms is located just south of Cedar Grove Rd in Marple Township/ Broomall PA.  The development is about midway between Sproul Rd/ Route 320 and Newtown Street Rd/ Route 252.  This provides the residents immediate access to Media, Newtown Square, and Broomall and very easy commuting options along Route 1,  Route 3/ the West Chester Pike, and The Blue Route/ I-476.

Cedar Grove Farm is a newer community with the majority of homes completed between 1990 and 1994.  The development includes over 125 homes averaging 3500-4000 sqft but with sizes ranging over 5,000 sqft.  Most properties include 4-6 bedrooms with 2.5+ baths, full basements, and 2 or 3 car garages.  The lots are generally less than half an acre.

Cedar Grove Farms Home PA

This is a very stable area with a relatively slow turnover of properties, and it has not seen the steep rise and fall in prices experienced by some nearby home developments.   Activity peaked in 2003/2004 when there were five sales each year and prices rose from an average sales price of $568,000 to $660,000.  Since then prices have largely remained in the low $600,000 range.  There were 3 sales averaging $628,000 in 2005, 4 sales averaging $666,000 in 2006, 1 sale for $740,000 in 2007, 1 sale for $510,000 in 2008, 1 sale for $675,000 in 2009 and 2 sales year-to-date 2010 averaging  $631,000.  Today there are 5 home on the market with an average list asking price of $632,000.  No homes are currently under contract.

With it’s great location, stable neighbors, and reasonable pricing, Cedar Grove Farms should remain a popular mid-price choice in Broomall for years to come.  Activity should begin to pick up as real estate activity in general begins to turn around creating additional move up/down buyers in the region. 

David Henke
Long & Foster Real Estate Inc – Newtown Square,PA/Bear, DE
Office: 610-359-3853/Cell: 610-618-0808
www.DelawareCountyPennsylvaniaHomes.com

(All statistics per the TrendMLS System and believed accurate but not guaranteed)

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