Archive for the ‘Thornbury’ Category

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

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

Chester County PA Home Sales Activity Update

November 20, 2012

Inventory falling and activity rising as home prices stabilize at a more sustainable level in Chester County. 

Since the last update, home sales activity has started to recover through much of Chester County PA. Year to date, the average sales price has dropped slightly from $349,000 to $336,000 while the average Days on the Market fell from 102 days to 93 days. After a very weak start at the beginning of 2012, Chester County sales activity has continued to strengthen as we worked through the year. The below data covers all Chester County:

Chester County PA:
For 2012 through October:
Year: Homes Listed | Homes under Contract | Homes Sold
2012: :      
7958                      4805                          4423
Average Home Sold for $336,000 in 93 Days
For the entire Previous Years:

2011: :      8662                      4420(51%)                  4342(50%)
  Average Home Sold for $349,000 in 102 Days
2010: :      9428                      4563(48%)                  4479(47%)
. Average home Sold for $357,000 in 89 days
2009: :      
9339                      4825(51%)                  4737(57%)
. Average home Sold for $336,000 in 87 days

On a year to date basis, the numbers look even more encouraging. As of November 19 for both 2011 and 2012, the total available homes on the market has fallen from 3,681 properties to 3,022 (down 18%). The properties under contract have risen 30% from 590 to 772 homes. The total homes sold have risen from 3,856 in 2011 to 4,735 – up 22%.

The Chester County market started the year very weakly lagging both New Castle and Delaware counties. New Castle County was the first to turn in the first quarter, Chester County began to move in the second quarter, while Delaware County did not strengthen until later in the year. If we can maintain this sales momentum, the year end sales numbers will easily be above 2011 and 2010 and could surpass 2009. If the economy continues to be stable, the inventory continues to fall, and consumer confidence remains solid, sales and pricing could strengthen as we move into 2013.

As always, if you are thinking of a move and would like more details on the market values in your area, please do not hesitate to contact me anytime for a market update or a complete complimentary market analysis for your home.

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

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

Thornbury Township Update – Delaware & Chester County PA Homes

May 23, 2009

Deer Pointe Luxury Thornbury Township Chester County PASituated just southeast of West Chester and west of Newtown Square PA sit the two adjacent Thornbury Townships – one is located on the western edge of Delaware County and the second is adjacent to it in Chester County.  Thornbury Township was originally organized as one larger unit in 1687 with just six families.  In 1798 as Chester County split from Delaware County, the local landowners had the option to join either county.  This resulted in the unusual split and boundary-line through Thornbury township today.  Now both township buildings are next to each other just off the main campus for the Cheyney University of Pennsylvania.

Originally this area was largely an agricultural community consisting of scattered larger landholdings.  Over the years, the area was slowly subdivided and has lost much of its agricultural activity. New Andover Luxury Thornbury Township Delaware County Today, it is a largely suburban community containing a wide range of housing options.  It has also been one of the largest beneficiaries of the tremendous growth in new construction that we witnessed since the turn of the century.

Thornbury Township Delaware County is the larger of the two areas.  It contains the three small villages of Cheyney, Thornton, and Glen Mills.  The real estate market has been very active here recently driven primarily by the continuing growth of new housing in the area.  This building activity has included everything from town-homes through to large single family estates.  Sales activity actually peaked back in 2004 with 109 sales at an average price of $583,000.  Since then activity has dropped fairly consistently with 81 sales in 2005, 61 in 2006, 68 in 2007, 47 in 2008 and 22 year to date in 2009.

Classic Thornton Victorian Thornbury Delaware County PAPricing has been more varied as new home communities have impacted the market.  Prices averaged $615,00 in 2005, then $598,000 in 2006, $666,000 in 2007, and $650,000 in 2008.  Year to date in 2009, this has dropped further to an average of $554,000 with only 22 sales.  In addition, there are now 55 additional homes on the market with an average asking price of $751,000 and just 2 pending with an average price of $497,000.  With the large number of active listings and only two under contract, it is difficult to gauge the future market direction.

In Thornbury Township Chester County, the market has followed a bit different path.  Pricing spiked in 2004 as the average price jumped from $393,000 in 2003 to $472,000 in 2004.  Since then it has bounced to $449,000 in 2005, $517,000 in 2006, $548,000 in 2007, and back to $535,000 in 2008.  Activity has remained more stable with 39 sales in 2004, 49 in 2005, 39 in 2006, 41 in 2007, and 45 in 2008.  Greenbriar Townhome Thornbury Township Delaware CountyInterestingly, the economy has slowed the activity quite a bit with only 7 sales year to date but new construction is pushing up the average price to $614,000 so far this year with 5 additional homes pending at an average price of $711,000 and 27 homes currently on the market at an average list price of $723,000.

Both communities remain popular due to their ideal location and wide variety of housing options.  Located just off Route 202, Route 352 / Chester Middletown Rd, and Route 926 /Street Rd, the townships afford quick access to West Chester, Wilmington, the Main Line, and Philadelphia through a wide range of commuting options.  If you are considering a move in the area, these are both great options.

As always, if you have any questions or need any additional information, please do not hesitate to contact me anytime.

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