Archive for the ‘Easttown’ Category

Easttown Homes Update – Chester County PA

September 7, 2012

Easttown home sales activity and pricing remain under pressure

Easttown Township is located in eastern Chester County adjacent to Tredyffrin Township to the north, Willistown Township to the west, and in Delaware County – Radnor Township to the east, Newtown to the south. Easttown was established in 1704. Founded originally as an agricultural area, its development grew as early roads developed and it became a stop on the Main Line to Philadelphia allowing an influx of new residents. Beginning in the 1950’s, population growth accelerated as older farms were sold and homes were developed.

Today Easttown has a population of over 10,000 with a prime suburban location on the Main Line. SEPTA provides convenient access to Philadelphia through the Paoli, Daylesford, Berwyn, and Devon Regional Rail Stations. It is also easily accessed by road on Lancaster Pike traveling east-west or Route 252  north-south toward Route 202 or Newtown Square. This location is ideal for commuting throughout eastern Chester County or western Delaware County. It is also surrounded by dining, entertainment, historic, and shopping options.

Homes in the area range across all styles, sizes, designs, and ages. From older properties built in the 1700s to Main Line estate properties, you can probably find it here. The majority of properties are single family homes but there are also a good variety of townhomes and twins. Businesses are centered along Lancaster Pike while the Township Offices are located at the intersection of Newtown and Beaumont Roads.

Home sales activity and pricing has largely followed the trends seen throughout the county. Prices peaked in 2006 when there were 161 sales with an average sold price of $958,000. Activity peaked in 2007 with 169 sales while the average price eased to $771,000. Prices dropped to a low of $587,000 in 2009 with 128 sales but recovered to $752,000 with 136 sales in 2011.

In 2012  the average price has again eased to $662,000 with 82 sales year to date. There are also currently 63 properties on the market with an average asking price of $1,289,000 while 19 properties are under contract averaging $560,000. As can be seen from these numbers, activity remains tilted toward the lower price sale points. Sales have ranged from a low of $229,000 to a high of $2,075,000. Listed properties range from $215,000 to over $8,000,000.

Easttown remains a popular Main Line housing option but home sales pricing and activity continue to fluctuate. In the near term, higher end homes prices and activity may continue to remain under pressure due to the overall economy and political uncertainty, but at the lower end of the market, lower prices are attracting solid activity which should put a good foundation for future pricing stability. With its prime location and great amenities, Easttown will remain a solid top choice for years to come.

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

The Greens at Waynesborough Market Update – Berwyn PA

June 11, 2011

The homes of the Greens at Waynesborough continue to maintain their value well.
The Greens at WaynesboroughLocated just south of Paoli on Route 252 south of the Waynesborough Country Club, The Greens at Waynesborough is located in Easttown Township Berwyn PA and belongs to the Tredyffrin-Easttown School District. Built between 1995 and 2000, the community contains over 150 homes ranging in size from under 3000 square feet to over 6000. The majority are between 3500 and 5000 sqft. Most lots are between one quarter and one third acre with some ranging above an acre each.

This prime Main Line Chester County location allows easy access to most of the area. Route 252 provides quick access to both Lancaster Avenue and West Chester Pike for easy commutes along the Main Line and into much of Delaware County. It is also just minutes from the SEPTA Paoli/Thorndale Line providing simple rail access to Center City Philadelphia. Wilmington is directly down Route 202 in Delaware.

Greens at Waynesborough Easttown PAReal estate values have held up very well in the community. After selling in the $500,000 range during construction, average resale prices peaked in 2005 at just over $1,000,000 with 4 sales. Since then there were 10 sales in 2006 averaging $975,000, 9 in 2007 for $971,000, 4 in 2008 at $1,023,000, 4 in 2009 for $930,000, and 5 in 2010 averaging $899,000. This year there has been one sale for $917,000, two properties under contracting with an average list price of $987,000, and two properties currently on the market with an average asking price of $1,070,000.

With its great central location, schools, and prices, the homes of The Greens at Waynesborough should be included in any area search.

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

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

Devon PA Homes Market Update – Zip 19333

June 2, 2011

Devon homes sales and real estate values continue to hold up well.

Devon PA HomesZip code 19333, Devon PA, is centrally located along the Main Line in Chester County just to the west of Wayne PA. The zip code is primarily located in the northeast section of Easttown Township but also extends to parts of Tredyffrin Township. The southern portion includes the Waterloo Mills Preserve in Easttown Township and the zip extends just beyond the Jenkins Arboretum to the north. Devon has a long and rich history including the renowned Devon Horse Show currently under way.  This position provides quick access to both Route 202 just minutes to the north and I-476, the Blue Route, to the east.

Devon PA Horse ShowThe zip encompasses a wide variety of housing choices from the condos of Old Forge Crossing to the classic estates of Devon and Easttown Township. Average home sales prices peaked in 2008 when there were 82 sales with an average price of $717,000 and top price of $3,700,000. This collapsed in 2009 with the absence of high-end sales, when the average price for the 111 home sales in the zip averaged $432,000 with a top sale price of only $1,700,000. This has quickly returned to a more normal price range with 81 sales averaging $566,000 in 2010 and 29 sales averaging $528,000 completed this year to date.

Devon Easttown PA HomesIn addition, there are currently 71 homes on the market with an average price of $702,000 with an additional 12 homes under contract averaging $866,000 list price. These prices would indicate a continued bit of strengthening in the immediate area. This would also put pricing back into the same range seen between 2005 and 2007 when average prices ranged in the high $500,000 to low $600,000 range.

With its prime Main Line location, long history, wide variety of housing choices, and excellent shopping/work/entertainment access, Devon, zip code 19333, should remain one of the preferred residential destinations for the foreseeable future.

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

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

***Be sure to check out the Open House this Saturday at 31 Berkeley Rd in Devon just south of Route 30 across from the Whole Foods Market from 12:00 – 2:00.***

Easttown Township Chester County PA Proposed Earned Income Tax – Meeting October 19th 8PM

October 16, 2009

Be sure to take the opportunity to let your opinion be known on the proposed Earned Income Tax in Easttown Township on October 19th.

As we move through this economic downturn, not only individuals and families are taking action to cope, but most local governments are also being forced to review their finances.  Easttown Township Chester County PAMany smaller communities are cutting expenses and reorganizing their operations to reduce their expenditures as much as possible while minimizing any additional burden on the local constituents.  Many are also raising fees and enforcing statues to raise additional revenue as possible.  All these actions are easily reversible.

Others are taking a different tack and changing some of their fundamental tax and revenue plans.  This is where the local constituents need to be more involved since these can have large long term impacts on both the individual and the local community.  Easttown is one of the local communities that is currently looking to raise revenues by proposing an Earned Income Tax.

“Please be advised that on Monday, October 19, 2009 at 8:00 P.M. prevailing time, at Beaumont Elementary School, 575 Beaumont Road, Devon, Pennsylvania, the Easttown Township Board of Supervisors will conduct a public hearing to consider and immediately thereafter during its regular meeting enact the following Ordinance” This ordinance concerns the earned Income Tax.

Please be sure to take the time and opportunity to attend the meeting (or call in advance) to be sure that you have the chance to make your voice heard either for or against these proposals.