Archive for January, 2011

Hockessin DE Library Used Book Sale This Weekend!

January 27, 2011

The Friends of the Hockessin Library will be holding their Annual Used Book Sale this Thursday through Sunday.

Hockessin Library Annual Used Book Sale DEJust a quick reminder that this weekend the Friends of the Hockessin Library will be holding their annual Hockessin Library Used Book Sale. There will be over 60,000 thousand books available covering every imaginable area including mysteries, biographies, science fiction, cookbooks, children’s books, and much more.  They will even have videos, CDs and DVDs available.

The Sale opens with a preview Thursday night from 5-9 PM for Members of the Friends of the  Hockessin Library. Then on Friday the Used Book Sale will be open from 9-9, Saturday 9-5, and Sunday 9-3. Admission is free for those three days. Hockessin DE Memorial Fire HallSunday is bargain day when you can fill a grocery bag for $6.00. See their website for additional details. The sale will be centrally located at the Hockessin Memorial Fir Hall at the Junction of Lancaster Pike and Yorklyn Rd in Hockessin. The money raised supports the operations of the library as well as scholarship money for college.

If you are looking for books for yourself, gifts, or have birthdays/events coming up, this is a great chance to find some interesting reading material and support a good cause at the same time. It is always a great time to read a book!

David Henke
Long & Foster Real Estate Inc – Bear, DE/Newtown Square, PA
Office: 302-290-2999/Cell: 610-618-0808
www.DelawarePAHomes.com

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Media PA Real Estate Market More Balanced

January 25, 2011

Media continues to exhibit a more balanced real estate market than seen in many areas of Delaware County PA.

Media PA Delaware CountyAs the county seat of Delaware County, Media has continued to be a popular housing choice in the area. It’s location adjacent to the Blue Route (Route 476) and Route 1 makes it easily accessible to all areas of the county and an easy commute to Philadelphia, Wilmington, and surrounding areas.  It also has great rail connections directly to Philadelphia and is just minutes down I-95 from the Philadelphia International Airport.

Unlike many communities in the county, for the most part, the Media real estate market has been able to maintain both its pricing and activity through the last several years.

Media PA Homes

The average home price first breached the $250,000 level in 2005 when the average home sales price rose to $255,000 with 58 sales.  Since that time prices have remained fairly stable with average prices in 2006 = $266,000 with 57 sales, 2007 = $328,000 with 66 sales, 2008 = $270,000 with 57 sales, 2009 = $265,000 with 59 sales, and 2010 = $248,000 with 53 sales.

The home price spike in 2007 can largely be explained by looking at the highest sales prices for each year.  In 2005 there was only one home sold in Media on the MLS listed for greater than $500,000.  In 2006 there were two home sales at this level, while in 2007 this spiked to 8 properties sold at prices between $500,000 and $780,000.  The activity then dropped to 4 sales in 2008, 1 in 2009, and none in 2010.

Media PA Real EstateIn Media today, there are 26 properties currently active on the market with an average sales price of $409,000 and 3 properties under contract with an average list price of $336,000 (2 properties have settled in 2011 for $258,000).  Although the active housing inventory is reasonable representing just half of last year’s sales, the asking prices seem a bit hefty with 7 of those active properties currently having list prices above the $500,000 level.  The current pending and sold prices would indicate that activity continues to be concentrated at lower price points but a strong spring market may be enough to generate sales above this level.

As seen for the last few years, Media should continue to see a strong and stable market as we progress through 2011.

David Henke
Long & Foster Real Estate Inc – Newtown Square,PA/Bear, DE
Office: 610-225-7400/Cell: 610-618-0808
www.DelawarePAHomes.com

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

 

Simon Pearce – Last Call in West Chester PA

January 23, 2011

Simon Pearce is in the process of closing their doors along the Brandywine near West Chester PA.

Simon Pearce West Chester PASimon Pearce has been a popular stop for the last decade from it’s ideal location along the Brandywine in Pocopson Township just west of West Chester.  Offering fine dining along with its signature glass blowing workshop and retail outlet, it was always an inviting trip for locals and those visiting our area attractions such as Longwood Gardens or Winterthur.

Sadly those days are close to an end.  The workshop and restaurant closed on January 12th while the retail shop is scheduled to close on Sunday February 13.

Simon Pearce Glassware Pocopson Township PA

For the next few weeks, the Simon Pearce shop is continuing to sell their original glass works and are having a 30% Off Sale on all their seconds.  This is a great chance to stock up if you need some extra glassware or decorative items before they leave the area.  They are only closing the local facility, so their items will continue to be available online or through their other retail outlets including their original location in Quechee Vermont.

Simon Pearce is one stop that will be missed in the area.

David Henke
Long & Foster Real Estate Inc – Newtown Square,PA/Bear, DE
Office: 610-225-7400/Cell: 610-618-0808
www.DelawarePAHomes.com

Newtown Square Real Estate Market Update

January 20, 2011


Springhouse Luxury Homes Newtown Square PAAfter a steep real estate decline in 2009, prices and activity for Newtown Square homes appear to be on the mend.

In Newtown Square a decade ago, the average sales price for a home was $375,000 with a top price of $2,028,000 encompassing 176 sales for the year.

2001: 176 Sales: Avg price = $370,000, Top price = $2,028,000
( including 14 sales greater than $1,000,000)

By 2005, the average price had risen to $563,000 with a top price of $2,900,000 including 191 sales.  From 2005 through 2008 the average yearly prices were fairly steady ranging from $536,000 to $579,000 per year with top prices between $2,800,000 and $3,200,000 and yearly sales between 138 and 159 sales per year.  Then the statistics speak for themselves:

2007: 159 Sales: Avg price = $556,000, Top price = $3,200,000
(including 14 sales greater than $1,000,000)
2008: 138 Sales: Avg price = $579,000, Top Price = $2,990,000
(including 16 sales greater than $1,000,000)
2009: 111 Sales: Avg price = $418,000, Top price = $2,000,000
(including 7 sales greater than $1,000,000)
2010: 109 Sales: Avg price = $542,000, Top Price = $2,800,000
(including 11 sales greater than $1,000,000)
2011: 97 Homes Currently on the Market: Avg price = $856,000
(including 27 homes greater than $1,000,000)
23 Homes Under Contract with Avg Price = $609,000

Greene Countrie Newtown Square PA

As seen above, the market took a nose dive in 2009 with average pricing for Newtown Township dropping over 25% but this is misleading due to the impact of the 50% decline in activity for those homes priced above $1,000,000.  In 2010, although activity did not rise, pricing recovered as we had a more balanced range of sales price points.

Today, it appears that we are off to a good start in 2011 with 23 homes currently under contract with an average price of $609,000.  In addition we have 97 homes currently on the market (averaging $856,000 list price) with 27 of these listed for greater than $1,000,000.  With only 15 of these properties either older homes or under construction, upper end pricing pressure to moderate.

Springton Pointe Luxury Home Newtown Square PA

With continued low interest rates and relatively abundant inventory, prices should remain fairly stable and activity is expected to rise as we begin the traditionally strong spring sales season.

David Henke
Long & Foster Real Estate Inc – Newtown Square,PA/Bear, DE
Office: 610-225-7400/Cell: 610-618-0808
www.DelawarePAHomes.com

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


Delaware County PA Real Estate – Quick Statistics Update

January 5, 2011

Throughout 2010, the real estate market was challenged by

the economy and changing directions of Wall Street and Washington, but it looks as though 2011 may finally be the year that we begin to see some stability in the market.

It will still be another week or so until we receive the final sales numbers for the local area from the MLS system, but the daily market activity has continued to show an “interesting” year.

As of today vs January 4, 2010:

Status:                                   Yr – Qty            Yr – Qty         Direction
Active on the Market:          2011 – 3253     2010 – 2745        Up 18%
Pending/Under Contract:    2011 – 400       2010 – 497       Down 20%
Year-To-Date Sales:           2011 – 4486     2010 – 5034     Down 11%

With the reduced sales pace continuing through the end of the year, active properties currently on the market remained above the level seen in the past few years.  This continues to provide excellent opportunities for buyers now looking for a new home but will continue to put a break on prices until activity once again begins to pick up in the new year.

We’ll follow up with a complete market report later in the month after we receive the final numbers.  In the meantime, if you have any questions or need any information, please feel free to contact me anytime.  It looks like we can look forward to a stronger 2011.

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

Happy New Year!

January 1, 2011

Happy New Year to All!

Horse Chadds Ford PA

Congratulations to everyone on their new homes in 2010 and looking forward to a great year in 2011.  Relax and enjoy the remainder of the holiday weekend and be ready for all the opportunities the New Year will bring.

Best Wishes

Dave

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