Archive for April, 2017

Happy Easter 2017

April 16, 2017

Happy Easter 2017

 WilmingtonRiverfrontEasterSunrise

A perfect April morning for a Riverfront Easter Sunrise Service in Wilmington Delaware.
Take some time to reflect, relax, and enjoy the day.

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

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Ridley Park PA – Home Prices Steady with Rising Activity

April 14, 2017

Home sales in Ridley Park Borough PA continue to rise while prices remain steady. 

In the 1870’s, the Philadelphia, Wilmington, and Baltimore railroad was developing a new line into Chester. IMG_20170413_145713They hired an architect and planned a new community to develop along the new rail line. Ridley Park was carved out of the center of Ridley Township as that new development in the 1870’s and was incorporated in 1887. Today, Ridley Park Borough is a great blend of stately old Victorians, newer single family homes, twins, condos, and apartments centered on a classic small downtown.

Since 2011, average home prices in the Borough have remained fairly constant. In 2011, the average price was $175,000. This rose to $192,000 in 2012, fell to $162,000 in 2013, then $172,000 in 2014, $182,000 in 2015, and $189,000 in 2016. The volume has been another story. There were 48 sales in 2011, rising to 49 in 2012, 60 in 2013, 79 in 2014, 90 in 2015, and 109 in 2016 – volume up 127% over the five years.

Today there are 20 homes on the market, 17 under contract, and there RidleyParkHomehave been 13 sales year to date. Settled prices have ranged from $70,000 to $230,000.

Ridley Park is mirroring what we have been seeing throughout southern Delaware County. Home sale activity has been increasing in most areas on a year to year basis but prices have not been following as aggressively. If activity continues to grow and the inventory of available homes for sale continues to shrink, we can expect to see stable or growing prices as we head for the future.

With its great location, classic downtown, wide range of housing options, and great transportation links, Ridley Park should remain a top choice in the area. This should lead to a continued stable to strong housing market.

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

 

Haverford Township PA Home Sales Update

April 12, 2017

Haverford Township continues to see solid home pricing with increasing sales activity.

Located in the northeastern part of Delaware County just to the west of the Blue Route (I-476), Haverford Township has been a very popular community along the Main Line for years. Haverford Township was first formed in 1684 from a portion of the original Welsh Tract grant of 1681. For decades it was a prime agricultural area with many mills and industry taking advantage of the local creeks. With the arrival of train and trolley lines, it has developed as a convenient suburb of Philadelphia offering quick access to the Blue Route, Philadelphia, Wilmington, The Philadelphia International Airport, and the Main Line.

On a relative basis, Haverford Township home sales pricing has remained steadier tOldHaverfordFriendsMeeting.jpghan much of Delaware County – avoiding the big drop and recovery seen in many areas of the county. Sales prices have remained within about a 10% range. In 2011, the average home sales price was $347,000. This dropped to $320,000 in 2012, then $328,000 in 2013, $337,000 in 2014, $359,000 in 2015, and $345,000 in 2016. Note that there is only a $2,000 difference in the average home sales price in 2011 to 2016. So far in 2017, the average sale price has been $357,000.

This fairly steady pricing may not last much longer. The number of homes listed per year has risen between 10 and 20% but the completed sales continue to rise more quickly. In 2011, there were 480 completed home sales. In 2012 there were 582 reported sales in the MLS, then 626 in 2013, 631 in 2014, 705 in 2015, and 943 in 2016. So far in 2017, there have been 138 completed sales with 162 additional properties currently under contract. The yearly numbers from 2011 to 2016 represent more than a 60% rise in completed sales. This has resulted in increasing price pressure (including increasing multiple offers) across the board which could begin to show up as rising prices as more homes settle over the next few months.

With a wide variety of housing choices, convenient location, stable to rising home sale pricing and sales activity, Haverford Township should remain a prime choice for homeowners for years to come.

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

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

Delaware County PA Home Sales Continue to Improve!

April 10, 2017

Delaware County PA home sales continue to improve in 2017.

It just keeps getting better. As of April 5, 2017 throughout Delaware County, there were 2312 properties on the market, 1050 under contract, and 1312 properties have settled since the first of the year.

These numbers all improved over 2016. Today last year, there were 2879 homes on the market, 1000 properties under contract, and 1206 properties sold. IMG_20170408_111128The 2017 numbers represent a 20% drop in inventory, 5% increase in properties under contract, and 8% increase in sales year to date.

They have improved every year for the last five years. Compared to 2012, the 2017 statistics show a 35% drop in homes on the market (from 3,570 in 2012), a 26% increase in those under contract (from 828 in 2012) and a healthy 50% increase in completed sales (from 869 Homes in 2012)

Since the election in November, we have continued to see a strong increase in sales and activity throughout the area. There has also been quite a bit of variation from township to township, so not all areas have been benefiting to the same extent, but the trend today is your friend.

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

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