Archive for the ‘Delaware County’ Category

Delaware County PA and New Castle County PA Home Sales

August 24, 2019

As of this morning, the MLS shows that both New Castle County DE and Delaware County PA have closed exactly the same number of properties – 4,477 properties sold in each county year to date.

This also happened in June for Chester County and Delaware County so I thought this would be a good time for another quick sales update for Delaware County PA, Chester County PA, and New Castle County DE.

IMG_20190815_081857414_HDRDelaware County PA: Currently there are 1,451 properties on the market or coming soon, 857 properties pending, and 4,477 properties sold. This compares to 2018 with 1,736 on the market, 912 pending, and 4,635 sold. We are currently running about 3.5% behind last year in properties sold along with lower inventories and lower pending.

New Castle County DE: Currently there are 1,451 properties on the market or coming soon, 901 pending, and 4,477 sold. In 2018, there were 1,717 on the market, 967 pending, and 4732 sold. This puts us about 5% behind last year also with lower active listings and pending properties.

Chester County PA: Chester County is now the strongest area with 1,705 on the market, 1047 pending, and 4,571 sold year to date. In 2018, there were 2,083 on the market, 1,167 pending, and 4,808 sold. These numbers also put us about 5% behind last year.

Overall the market activity continues to show weakness throughout all three counties compared to 2018. On the other hand, we have gained versus the weak numbers we saw in June . With the continued volatility in the econmy, markets, and activity worldwide, the market could continue to exhibit some weakness through the remainder of the 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 Bright MLS System and believed accurate but not guaranteed)

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Happy Easter 2019!

April 21, 2019

Happy Easter to All!

 

IMG_20190420_182658858

Hope everyone is enjoying the holiday – great friends, great food, and a spring break weekend for many.

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

Folcroft PA Home Sales Report

April 20, 2019

kufkufufkukFolcroft PA home prices continue to rise but sales activity has eased.

FolcroftPASignFirst settled in the 1600s as part of New Sweden, Folcroft was one of the earliest developments in what is now southeastern Delaware County Pennsylvania. Folcroft was incorporated as a separate Borough in 1922. Originally a farming area, today it is a convenient residential suburb to Philadelphia containing a nice selection of over 2500 row, twin, and single family homes. It’s location provides quick access to Philadelphia, the Philadelphia International Airport, and all areas north and south along I-95. In addition, it is a stop on the Philadelphia Media/Elwyn Regional Rail line with direct service to downtown Philadelphia.

FolcroftPAHomesFolcroft is a popular residential area with the average area home sale prices recovering nicely from the recession. Sales activity reached a recent low with only 43 home sales in 2012. Average prices reached a low the following year at only $67,000. Since then sales activity and prices have been in a general uptrend with 120 sales in 2018 at an average sales price of $112,000. From the recent lows, these numbers represent a 67% increase in the average price with 2.7 times the sales.

In 2019, the market has continued to be strong but the sales pace is running a bit behind 2018. To date, there have been 21 sales with an average sales price of $124,000. In addition, there are currently 15 properties on the market with an average list price of $128,844, and 16 properties are under contract with an average list price of $121,000.

With Folcroft’s ideal location, a strong local housing market, and continued growth in jobs and housing in the Philadelphia region overall, the real estate market in Folcroft looks to continue to be a great housing choice that should be included in any local search.

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 Bright MLS System and believed accurate but not guaranteed)

Newtown Square PA Real Estate Update

February 18, 2018

Newtown Square continues to be a prime destination for those looking for a more relaxed suburban lifestyle but still being only minutes from the Main Line, Philadelphia International Airport, and all that Delaware County, Chester County, and Philadelpia have to offer.

With its ideal central location, Newtown Square has always been a top destination in the area. Today the real estate market continues to thrive as prices remain relatively stable and new development continues throughout the Township. Older developments continue to see stable to rising prices with many upgraded, expanded, and rehabbed homes. This activity accompanies the expanding new construction projects throughout the Township. There is also a good mix of new commercial development like the new shops and restaurants of Ellis Preserve that provide a new dose of variety for the area.

Overall Newtown Square real estate prices have remained relatively stable but the numbers do not catch all the activitty in the new home developments. Newtown Square HomesSince 2010, average sales prices have seen a broad range from $440,000 to $554,000 while sales activity has seen a continued growth on a year to year basis. In 2010 there were 109 sales with an average sales price of $542,000 and 79 days on the market. Reported sales prices subsequently fell in 2011 to $440,000, then averaged $499,000 in 2012, $508,000 in 2013, $554,000 in 2014, $502,000 in 2015, and $477,000 in 2016. Sales activity has seen a more steady rise as home sales rose to 126 sales in 2011, 158 in 2012, 157 in 2013, 198 in 2014, 188 in 2015, and 214 in 2016.

In 2017, there were 247 home sales with a reported average sales price of $538,000 with an average of 65 days on the market. So far in 2018, there have been 18 sales at an average sales price of $546,000 with 73 days on the market. Liseter Newtown Square PACurrently there is a wide variety of available homes with prices for condos starting at $169,000, townhomes from $179,000, and single family properties from $324,000. Prices top out at $3,500,000 with 16 properties listed for more than $1,000,000 in Newtown Township.

It appears that Newtown Square will continue to be a prime destinantion for families looking to live in western Delaware County. Its wide variety of housing, new home construction, great location, and strong commercial development should continue to drive growth in the area that should attract a strong and growing residential housing demand.

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

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

Home Sales Continue to Rise in 3 County Area

September 24, 2017

Quick update to my August 3 sales update:

All three counties continue to have strong sales with Chester County just barely leading the way. Chester County now has 5,305 settled sales year to date (up 4% from 2016 and 39% from 2012). New Castle County is slightly behind at 5,264 sales to date (up 12% from 2016 and 38% from 2012). Finally Delaware County now follows with 5,209 sales (up 5% from 2016 and a huge 47% from 2012!)

As you can see, we continue to have strong volume with rising sales across the board compared to last year and five years ago.

from August 3, 2017:Collen Brook Farm Upper Darby PA

Well that’s unusual. All three counties with almost identical closed sales.

Generally I work in three counties in the area; Delaware and Chester Counties in PA and New Castle County County in Delaware. I also usually check the statistics daily for each county.

As you would expect, there is a wide variation in sales rates and volumes as particular areas become more popular or not over time. As the year progresses, there are usually clear winners and losers.

Not this year. Today I just happened to notice that the settled sales year to date total:

Delaware County: 4264 Homes reported sold in MLS

Chester County: 4267 Homes

New Castle County: 4268 Homes

A difference of only four properties for all three counties.

In 2016, the comparable data for today was Delaware at 3,974, Chester at 3,992, and New Castle County at 3,754. Five years ago saw Delaware at 2,806, Chester at 3,032, and New Castle at 3,090.

Bottom Line: Good news for all three counties! Sales continue to rise in all three counties and all three are equally robust.

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)

Quick 2015 Delaware County PA Wrap Up

January 5, 2016

So how did it go in Delaware County real estate last year? – Pretty Good!

Although there has been a wide variation in activity throughout the county and townships, the overall market has continued to strengthen.

From January 1, 2015 through January 4, 2016, there were 6,122 reported sales on the MLS. This compares to only 5,465 at the beginning of last year, a rise of over 12%. It could be worseLikewise, pending sales have grown from 622 in 2015 to 660 in 2016, an increase of 6%. Active for sale home inventory has also decreased from 2,580 active lisitngs to 2,507, a fall of over 2.5%.

This looks even more promising when compared to the depth of the market in 2011. On January 4, 2012, there were 3,142 homes on the market (25% higher), 480 homes pending (27% lower), and there had only been 4089 sales in 2011 (33% lower).

Based on the local market and economy, it appears that we should have another solid year in 2016. This could be disrupted, however, depending on the major potential economic and political impacts currently developing around the world.

Call me if you are interested in more information on the market in your particular area.

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 Real Estate & Homes Market Update

September 5, 2015

Despite a bit of a cool down, Delaware County PA continues to see strong home sales activity throughout the county – continuing a trend seen throughout the year.

After getting off to a tremendous start in 2015, the real estate market has cooled quite a bit in many parts of Delaware County PA, but total sales still remain well above last year at this time.

AsRidley Creek of September 1, there have been 4,115 settled home sales in the county. In addition there are 3,184 properties currently on the market ranging in price from less than $20,000 to over $19,000,000. and 853 properties are currently pending.

This is better across the board from this date in 2014. The active listings have dropped 2% from 3,233, Pendings are up 12% from 758 pending listings, and sold homes have risen 14% from the 3,602 properties that had sold as of this date last year.

It looks even better when compared to the trough in activity 5 years ago with active listings down 20% from 3,971, Pendings up 55% from 547, and sales up 50% from 2,728.

Overall the county continues to maintain a healthy sales rate compared to last year and is holding up well to both New Castle County and Chester County. Through September 1, New Castle County reported 4,039 home sales while Chester County reported 4,539 home sales. Delaware County began the year with a greater sales rate than both counties but all have been relatively healthy.

As long as the economy does not fall off the rails again, we would expect to see consistent sales activity through the rest of 2015.

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)

Who Has An Earned Income Tax or Wage Tax in Delaware County PA?

July 15, 2015

Seventeen communities in Delaware County PA currently impose an Earned Income Tax or Wage Tax on their residents and/or workers.

Taxes are a necessary evil to pay the government for essential services but no one likes to pay more than the other guy. Since 1960 when no Philadelphia suburb had an earned income tax or wage tax, the tax has slowly spread throughout the area. When evaluating where you want to live in Delaware County, the earned income tax is not as readily apparent as the local real estate taxes that are imposed but should be included as you weigh your options.

In Delaware County today, seventeen of the 49 communities in the county impose an Earned Income Tax or Wage Tax. According to the latest information from the Delaware County site, 16 communities impose a tax of 1% while the City of Chester currently has an Earned Income Tax rate of 2.15% for residents and 1.15% for non-residents. Those communities with a 1% tax include:

Chester PAAston Township
Brookhaven Borough
Chester Township
Darby Borough
Eddystone Borough
Folcroft Borough
Lower Chichester Township
Marcus Hook Borough
Media Borough
Millbourne Borough
Thornbury Township
Tinicum Township
Trainer Borough
Upland Borough
Upper Chichester Township
Yeadon Borough

and the City of Chester has the highest rates with either 2.15% or 1.15% rates

Each community also has various County, Township/Borough, and School real estate and income taxes, so the total tax burden varies quite a bit from location to location, but it is important to factor all these rates into your decision as you evaluate where you would like to live in the county. (Thornbury is unique with no Township tax)

Be sure to consult your accountant – you always have options throughout the county and every individual’s tax situation is unique.

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

(All information and rates believed currently correct but are subject to change anytime and should be verified with local community)

Woodlyn PA Zip Code 19094 Homes Update

May 7, 2015

After several years of decline, it appears that the market price for homes in Woodlyn PA has stabilized with increasing activity.

Woodlyn PA Post OfficeWoodlyn PA is a census designated area located in the western portion of Ridley Township. This is the area covered by the 19094 Zip Code. Woodlyn is conveniently located and easily accessed by the MacDade Blvd exit off the Blue Route (I-476). It is bordered by Chester to the west, Nether Providence to the north, Eddystone to the south, and the balance of Ridley Township to the north and east.

Tax records indicate that there are approximately 1340 residential properties in the zip code. After prices for Woodlyn PA homes peaked in 2007, the average price  generally declined through 2014. In 2007 the average sold price was $196,000 with 55 sales. Woodlyn PA HomeThe average then declined to $181,000 in 2008, $162,000 in 2009, $156,000 in 2010, $143,000 in 2011, $126,000 in 2012, $135,000 in 2013, and $128,000 in 2014. By 2014, sales activity had recovered to 56 sales for the year after reaching a low of 27 sales in 2012.

In 2015 year to date, there have been 7 sales with an average sales price of $117,000 and 10 properties are currently under contract with an average list price of $147,000. As these properties settle, it appears likely that the average sales price could recover to the 2014 price level.

There are also 34 properties currently on the market ranging in price from $319,000 to $64,000 with an average asking price of $157,000.

Based on the increase in activity and the generally increasing prices in several nearby areas, it appears that Woodlyn has reached the low point with prices expected to be stable or rising from here.

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)