Delaware County PA Real Estate Market Update

The Delaware County Real Estate Market continues into the fourth quarter at a leisurely pace.

As we close in on the end of September with only one quarter to go before 2011, this is a great time to assess the current market health.

As we noted before, the net effect of the First Time Home Buyer’s Tax credit was simply to move the timing of sales in 2010 with little apparent impact on increasing overall activity in the market.  This year to date in 2010, there have been 3525 recorded sales in the county compared to 3524 sales in 2009.

Through September 29, 2010:
.                                           2009              2010        Change
Year To Date Sales:             3524               3525        No Change
Pending Sales:                       818                 568        -31%
Active Homes For Sale:        3282              3903       +19%

Compared to my 8/17/2010 market update, the Pending Sales and Active Homes numbers continue to deteriorate. Pending sales have fallen an additional 11% (from 639 to 568) in the last month and a half.  The Active Homes for Sale inventory has climbed an additional 2.6% (from 3803 to 3903).  Both numbers indicate an increased desire to sell while buyers appear to be continuing to wait on the sidelines.

We have been seeing additional buyer activity both online and in Open House traffic but this has yet to be seen in increased homes under contract.  If the buyers do not return soon, we could see some further price deterioration as we move toward the end of the year.

This remains one of the best and most affordable times to buy a home in the area.  Anyone who is considering a move should be in the market today.  Very minor economic news could quickly be felt in increased interest rates and today’s deep inventory could quickly be gone.

As always, should you have any questions or be considering a move, please do not hesitate to contact me anytime.

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)

Don’t Forget To Vote In Delaware!

Tomorrow is the primary election and Time To Vote.

Unlike many elections, this primary offers clear choices at all levels of government on both sides.  In a primary with low turnout anyone can win.  You do not want to assume anything.  Be sure to make your voice heard.

David Henke
Long & Foster Real Estate Inc – Bear, DE/Newtown Square, PA
Office: 302-834-3431/Cell: 610-618-0808
www.DelawarePAHomes.com

 

Pennsylvania Horticultural Society Fall Garden Festival

Save the Date: PHS Fall Garden Festival is this  Saturday Sept 11 .

The Pennsylvania Horticultural Society, PHS, is holding its Fall Garden Festival this Saturday September 11.  This year the event is being held at the Philadelphia Navy Yard from 11:00 – 4:00.  Everyone is invited to this free event.

Formerly the PHS Member’s Day, the event has been expanded and opened up to the public with numerous events and items on sale.  PHS will be providing information on their ongoing programs and along with PECO, the Neighborhoods Garden Association, and other local organizations will be teaching about green living at the PHS Green Stop.  There will multiple educational exhibitors available.  Even a preview of the 2011 Philadelphia International Flower Show will be presented.

There will be full shopping and tours available.  Plants, food, and gardening items will be for sale including PHS’s award-winning Gold Medal plants from PHS’s Meadowbrook Farms.  A live auction will begin at 1:30 with an amazing variety of interesting and useful items.  Live music will be performed by Prose from Dover.

This will be the perfect fall opportunity to get your gardening questions answered, learn about area green initiatives, entertain the children, and provide ideas to improve the quality of life in your local community.

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

One Week To The Delaware Primary – Still Time to Vote Absentee

You still have time to vote with an absentee ballot if you will not be able to visit your normal polling place for the Delaware Primary next Tuesday September 14.

Well, we are now one week away from the Delaware Primary with interesting races scattered throughout the state for both Democrats and Republicans.  If you will be unable to vote at your normal polling place next week, you can vote absentee by mail or by visiting your County Department of Elections office (downtown Wilmington in New Castle County) until noon on Monday.  To vote absentee you must fall into one of several categories:

– Nature of your work prevents you from going.
– Your public service to the US or State of Delaware prevents you from voting.
– Your religion prevents you from going.
– You will be on vacation out of the area.
– You have been ill and will be unable to visit.
– You have a disability.
– You are incarcerated.

Be careful to follow all the directions so that your ballot is not disqualified.

On the Republican side, the Primary races include the statewide positions for US Senator and US Representative in Congress along with various county and local races including the New Castle County Sheriff.  On the Democratic side, the Primary races include the statewide positions for State Treasurer and Auditor of Accounts as well as several county and local positions again including the New Castle County Sheriff.

Put aside some time and be sure to vote on September 14th – in person or by absentee ballot – but be sure to make your vote count!

David Henke
Long & Foster Real Estate Inc – Bear, DE/Newtown Square, PA
Office: 302-834-3431/Cell: 610-618-0808
www.DelawarePAHomes.com

Happy Labor Day!

Happy Labor Day!
Enjoy the last great weekend of summer and one last chance to relax before school and the fall events kick into high gear.

Just a quick reminder that this remains a great time to be in the market with incredibly low interest rates, higher than average inventories, and more time to make the right decision.  Feel free to call anytime with questions.

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