Archive for January, 2012

Delaware County PA Homes Sales Activity Update

January 18, 2012

Overall home sales activity continued to decline in 2011, but the rate began to recover toward the end of the year.

As of January 1 2012, available homes for sale declined slightly as compared to January 1 2011 while homes under contract rose – boding well for the housing market as we enter 2012. In addition, while yearly sales continued to decline to a rate 9% below 2011 and 19% below 2010, the gap in activity began to close as the sales rate began to rise toward the end of the year. (Check out the last Update in July here)

As of January 1 each year:
Year:  Homes on the Market | Homes under Contract | Homes Sold
2012:            :3133                              464                           4072
2011:            :3210                              414                           4476
2010:            :2750                              495                           5030

2012 Vs 2011
Change:       -2.4%                            +12%                         -9%
2012 Vs 2010
Change:       +14%                            -7.3%                        -19% 

Positive News: With lower inventory and more homes under contract, we may be past the bottom of the market. There continues to be a large unsatisfied pent up demand with people who want to move and plenty of inventory available to satisfy the demand. In addition, the financing rates have never been lower for those who qualify.

Negative News: We still have a relatively anemic sales rate. The key will continue to be if anyone can “afford” to move. Both buyers and sellers continue to have problems selling their current properties, obtaining satisfactory appraisals on their sales and purchases, and, most critically, obtaining satisfactory financing to move.

Bottom Line: Today continues to be one of the best times to move seen in years. Prices are down across the board, inventory is up in most market segments, and financing rates are at record lows. Although existing homeowners may see lower prices on their sales, they continue to benefit from lower purchase prices. Investors can lock in the current low financing rates to earn higher income yields for years to come. When confidence returns to the marketplace, both prices and interest rates could rise quickly.

As always, feel free to contact me anytime with all your real estate needs and questions.

David Henke
Long & Foster Real Estate Inc – Devon,PA/Bear, DE
Office: 610-225-7400/Direct: 610-618-0808

Radnor Open House This Sunday on Bryn Mawr Avenue

January 5, 2012

Open House this Sunday January 8 from 2:00-4:00
at 690 S Bryn Mawr Avenue Radnor Township PA.

This Sunday we will be holding an Open House at 690 S Bryn Mawr Avenue. 690 Bryn Mawr Ave 19010This home is located on the north side of Bryn Mawr Avenue just east of Route 320 / Sproul Rd in Radnor Township. This location provides almost immediate access to much of the Main Line as well as most of Delaware County. The home is also minutes from Route 476 with quick connections to I-95, the Philadelphia Airport, greater Philadelphia, and south to Wilmington.

Radnor PA Homes

690 Bryn Mawr is listed by Marie Gordon and has been reduced to $399,900. The home is a 3 bedroom 2 bath one floor ranch style property with over 1600 square feet built in approximately 1955. With hardwood floors throughout, updated kitchen, and over one acre of property, this is an ideal location for those looking for convenient one floor living.This home includes a great light open floor plan, one car garage, and basement.

The home is easily accessed from much of the area. From West Chester Pike and I-476 travel west to Rt 320 / Sproul Rd; turn north until you reach the intersection of Bryn Mawr Avenue; turn east to 690 Bryn Mawr. From Lancaster Avenue head south on Sproul until you reach Bryn Mawr Avenue and turn east.

If you are looking for convenient one floor living with immediate access to the Main Line, Chester County, and Delaware County with access to the Radnor schools, you should be sure to include this home in your search.

David Henke
Long & Foster Real Estate Inc – Devon,PA/Bear, DE
Office: 610-225-7400/Direct: 610-618-0808  

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