Condos Go Upscale In Delaware County PA

Average condominium prices continue to rise in Delaware County PA.

Louella Condominiums Wayne PA

An interesting trend is appearing in the Delaware County sales statistics, average condo prices have continued to rise even as activity has slowed.

Delaware County has always had a wide range of condominium options throughout the county with prices ranging from well below $100,000 to an upper end “traditionally” in the $600,000 range with some few exceptions above the $1,000,000 level. Like much of the county, the existing individual complexes have seen the same rise and fall in prices and activity seen throughout the housing market.

Terrazza Newtown Square PAWhile the county wide average sales numbers have seen the same pattern, the average sales prices for all county condos have continued to rise at a steady pace. This reflects a variety of new high end projects that have been developed.  Particularly with the addition of Terrazza in Newtown Square, Athertyn in Haverford, and Louella in Wayne, the new upscale developments are pushing the amenities and associated pricing to levels more often seen in the city. This is creating more options, more competition, better amenities, new standards, and better housing that will benefit the area for years.

Delaware County PA Condominium Sales Activity
Year      Average Price    Total Sales
2011          $230,000                29           June only
2011          $225,000                122         through June
2010          $222,000                310
2009          $211,000                365
2008          $192,000                377
2007          $190,000                508
2006          $180,000                475
2005          $178,000                485
2004          $160,000                499
2003          $139,000                483

So.. the next time you are in the market for a new home, before you make any firm decisions where you are going to live, please be sure to check out all your options. Even in this market, development continues and the new home options just might pleasantly surprise you.

David Henke
Long & Foster Real Estate, Inc
Devon PA/Wilmington DE
Direct:610-618-0808 – Office:610-225-7400
www.DelawarePAHomes.com 

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

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