Riddlewood Home Sale Market Report – Media PA 19063

Riddlewood continues to be one of the most popular and stable communities in the Media 19063 area.

IMG_0639Originally developed in the 1950’s, Riddlewood is named after the former property owner and racehorse owner Samuel D Riddle. The Riddle family operated a mill in the area and Glen Riddle was named by his father. He was an avid and successful horseman with large horse farms in Maryland and Kentucky. Most of the streets within the community were named for his most successful race horses. On his death he donated 72 acres of land and $2.5 million to provide a hospital to the Media PA community – today’s Riddle Memorial Hospital which is located on the south side of Baltimore Pike across from the Granite Run Mall and adjacent to Riddlewood.

The 218 acre site of Riddlewood was obtained from the Riddle estate and developed by the Arters Brothers and architect George Hay. IMG_0636Construction on the site began as early as 1950, but the tax records show that the bulk of the residential construction was finished between 1954 and 1956. Some homes continued to be finished through 1960. The development sits on the east side of Route 452 (South Pennell Rd) on the south side of Baltimore Pike / Route 1 across from the Granite Run Mall. This spot affords easy access to most of Delaware County as well as the Philadelphia Airport, Philadelphia, and Wilmington DE.

Today there are over 290 homes in the community ranging in size from under 1000 sqft to almost 3000 sqft. Homes varied from 2 to 5 bedrooms, but most were 3 bedroom properties in various styles including ranches/ranchettes, split level homes, and capes. They were most commonly about 1500 sqft. There were a wide variety of lot sizes based on the layout and terrain but the most common were just under 1/2 acre at about 20,000 sqft. Riddlewod PA HomesThe Riddlewood Swim Club was developed on 10 acres along the southern portion of the site and opened in 1957.

Like most communities in the area, Riddlewood saw increasing home sales activity and prices through 2007, Average sales prices rose from less than $200,000 in 2001 to a top average price of $341,000 in 2007 with 12 sales. Since then prices have eased but generally have remained much more stable than seen in many area communities. Average yearly Riddlewood prices have fluctuated between a low of $275,000 in 2011 to a high of $320,000 in 2009. Last year, 2012, there were 7 home sales with an average sales price of $295,000 and individual sales prices ranging from $223,000 to $335,000. This year, there has been one home sale for $270,000, three properties are under contract listed for an average of $314,000, and there are three properties currently available with an average asking price of $294,000.

With its great location, relatively stable pricing, low turnover, spacious lots, variety of housing, and great ammenities, Riddlewood should remain a top choice in the area for years to come. Should you need any additional information, please do not hesitate to contact me.

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

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

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