Archive for July, 2017

Thornbury Township Chester County PA Home Sales Update

July 10, 2017

Thornbury Township in Chester County PA continues to have solid home sales with rising prices.

IMG_20170710_095605Founded in 1687,  Thornbury Township in Chester County has been a mainly rural area until recently with new residential development throughout the township. Unlike many local townships in Chester and Delaware Counties in Pennsylvania, Thornbury Township has not followed the general up and down home sale pricing trends seen throughout the area. Average prices have varied on a yearly basis not only on the overall market direction but also on the mix of properties sold. This may be changing.

 

Average prices have varied on a yearly basis but overall have managed to remain more stable than many local areas. This may be changing as prices look to move higher in 2017.

Between 2004 and 2016 the highest average sales price was $562,000 and the lowest average sales price was $442,000. These happened in adjacent years. In 2009, there were only 24 home sales at an average sales price of $544,000. Squire Cheney ParkIn 2010, sales recovered nicely to 37 sales but prices dropped to an average low of $442,000. Seeing the activity, prices rose to an overall average high of $562,000 in 2011 but sales dropped to a low of 22 sales for the year. Sales prices have remained in a range of $478,000 to $540,000 since and yearly sales have been between 31 and 44 sales per year.

Based on the numbers year to date in 2017, we may finally be in an uptrend. RedLionARCurrently there are 17 properties on the market with an average asking price of $616,000. Eight properties are under contract with an average list price of $601,000. There have also been 17 sales with an average sales price of $602,000 (96.79% of list price) with an average of 41 days on the market. If activity continues to be strong, average prices could reach a new high this year.

With its prime location on Route 926 and Route 202 providing easy access to West Chester, Wilmington, and all of Chester and Delaware Counties, Thornbury Townhip is well positioned to remain a popular housing choice for years to come. This should allow home sales activity and pricing to remain stable and strengthen going forward.

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)

 

 

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Happy July 4th!

July 5, 2017

Happy July 4th!

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A bit of a soggy mess to end a great day but it looks like it will be clear so the fireworks can go on… I hope everyone had a great holiday. Enjoy the rest of the summer. Have a Happy 4th!

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

 

Chester County PA Home Sales Update

July 3, 2017

For the first half of 2017, the Chester County housing market continues to strengthen and looks to remain strong through the balance of 2017.

As of July 1 throughout Chester County, there were 2,541 properies currently on the market, 1,271 homes under contract, and 3,421 homes had settled at an average sales price of app $368,000.

Chester County Visitor Center Longwood PAThis compares to July 1, 2016 when there were 2,858 active properties, 1,323 under contract, and 3,147 properties had sold with an average sales price of $356,000. This indicates a 12% drop in inventory, an 8% rise in sales, and a 3% rise in price in 2017.

For more perspective, if you go back 5 years to 2012 on July 1, there were 3,669 properties on the market, 867 under contract, and 2,452 had settled with an average sales price of approximatley $327,000. Between 2012 and 2017, this shows a 31% drop in inventory, a 46% rise in properties under contract and a whopping 39% increase in completed sales with a 12% rise in average prices.

These are all strong numbers but it must be remembered that this covers the entire county so individual areas have seen a much broader range of price changes and activity, both good and bad. Just a quick update of the raw numbers as we head into the second half of the year.

I hope everyone is having a great year!

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)