Archive for the ‘Pike Creek’ Category

Albertson Park Homes Update Wilmington DE 19808

May 14, 2014

Albertson Park continues to be a popular single family housing choice with a great location and relatively stable home prices and sales activity.

Albertson ParkAlbertson Park is a nice single family development of over 150 properties. Designs range from smaller approximately 1600 sqft ranches to larger 2 story colonials with over 1900 sqft. Construction began in 1960 and continued through 1965. Located adjacent to Faulkland Heights, it is an ideal location for anyone needing access throughout New Castle County.

As we have often seen throughout the county, Albertson Park home sales activity and pricing peaked in 2007 with 6 sales averaging $232,000. Since 2008 average prices have fallen from $229,000 to a low of $185,000 in 2011. Prices jumped a bit in 2012 to $204,000 but sales fell to 2 homes.

Albertson Park Wilmington DE 19808Prices again retreated in 2013 with 5 sales ranging from $167,000 to $200,000. The average sales price fell to $182,000, Lower prices again have succeeded in increasing sales activity in the community.

Today, there are 2 two story colonials under contract with an average asking price of $199,00. Currently there are no homes on the market and no properties have sold in 2014 year to date.

For anyone looking for properties with easy access throughout northern New Castle County, Albertson Park should be included in your search. With a nice variety of housing options and more stable pricing, Albertson Park should prove to be a good long-term choice.

David Henke
Long & Foster Real Estate Inc – Bear, DE/Devon, PA
Office: 302-834-3431/Direct: 610-618-0808
www.DelawarePAHomes.com

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

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Faulkland Heights DE Homes Market Update

September 9, 2013

Faulkland Heights has continued to be a popular local home choice with stable home prices and strong sales activity.

Faulkland Heights WIlmington DE 19808Faulkland Heights is a nice single family residential community located in north central New Castle County with easy access to both Wilmington and Newark. Positioned at the intersection of Faulkland and Centerville Roads, it is just to the north and west of Kirkwood Highway and Route 141. This provides quick access throughout northern New Castle County.

With the first properties completed in 1959, construction in Faulkland Heights continued from 1959 through 1965 with the greatest number of homes completed in 1960 and 1961. With over 400 properties, there is a nice variety of sizes and styles ranging from 1150 sqft ranches to 2000+ sqft colonials and splits. The most popular styles were the 1500 to 2000 sqft ranches found through much of the community.

Faulkland Height DE HomesFaulkland Heights pricing and sales activity seem to be strengthening. The average sales price in the community reached a peak in 2007 with 11 sales at an average price of $250,000. Activity peaked a year later with 18 sales at an average price of $224,000. Sales activity and prices both eased until we appeared to reach some stability in 2011 and 2012 where in both years there were 11 sales at an average price of $184,000.

In 2013 year-to-date, Faulkland Heights has seen 14 sales with an average sales price of $180,000. There are also 2 sales pending averaging $192,000, and two properties are currently on the market listed for an average of $177,000. Faulkland Height DE HomesIndividually the sales prices have ranged from $111,000 to $216,000 while the active properties range from $150,000 to $204,000. The pricing reflects the wide variation in condition currently seen in the various properties.

With increased activity and an overall strengthening market, Faulkland Heights home pricing and sales activity should continue to be stable or rising. For those needing quick access to Kirkwwod Highway, Route 141, and north central New Castle County, it should remain a great alternative.

David Henke
Long & Foster Real Estate Inc – Bear, DE/Devon, PA
Office: 302-834-3431/Direct: 610-618-0808
www.DelawarePAHomes.com

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

Klair Estates Wilmington DE 19808 Home Market Update

August 11, 2013

Klair Estates home values and sales activity have continued to be stable recently.

Klair Estates Wilmington DE 19808Klair Estates is a nice single family home development of just over 300 properties developed in the 1950s. Located on the Kirkwood Highway on the south east corner of the intersection of Kirkwood Highway and Limestone Road (Route 2 and Route 7), Klair Estates is nicely located for anyone needing quick access throughout New Castle County. This prime location places it almost equidistant from Newark, New Castle, Hockessin, and Wilmington with quick access up Route 7 into Pennsylvania or south on Route 1 to the beaches. Just to the south, I-95 provides freeway access to Philadelphia and Baltimore.

Klair Estates was developed primarily in the 1950s with the earliest properties being completed in 1954 based on the tax records. These were primarily ranches along Shady Dr with approximately 1150-1700 sqft. Over the next few years building continued with a mix of ranches and split level properties primarily in the northern part of the development. Klair Estates Ranch Home Wilmington DEKlair Pl, Harris Pl, and Weir Circle saw construction beginning in 1955 and continuing from 1957 through 1959. By 1959, construction had also moved down to Sharon and Sandy Dr with primarily ranches in the 1700 sqft range. Overall construction began in 1954 and continued through 1965 with a mix of ranch and split level homes, mostly 3 bedroom, ranging from 1075 to over 2000 sqft.

As we have seen throughout New Castle County, Klair Estates has experienced a price pull back and rebound since the recession started in 2008. The average sales price peaked in 2006 when there were 9 sales with an average sales price of $230,000 and 28 days on the market. Klair Estates Split Level HomeThe prices stayed basically the same in 2007 and then dropped to $206,000 with 10 sales in 2008 and $181,000 with 9 sales in 2009. Average prices bottomed in 2010 with only 5 sales averaging $164,000.

Prices recovered to an average sales price of $183,000 in 2011, and have remained fairly stable at $175,000 with 5 sales in 2012 and $175,000 with 4 sales year to date in 2013. There are also 3 properties currently available for sale with an average asking price of $185,000 and individual prices ranging from $140,000 to $214,000 – about in line with the prices that we have seen over the last several years.

Going forward, Klair Estates home prices should continue to benefit from the increased sales activity and solid to rising home prices that we are seeing throughout the Pike Creek / mid county region. Be sure to include it on any search for homes in the area.

David Henke
Long & Foster Real Estate Inc – Wilmington, DE/Devon, PA
Office: 302-834-3431/Direct: 610-618-0808
www.DelawarePAHomes.com

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

Yes – It Is a Good Time to Move! – New 30 Year Mortgage Interest Rate Chart

March 2, 2013

Rates continue to remain at historic lows. Buyers and Sellers should take this opportunity to profit while these rates continue.

A picture is worth a thousand words:

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30 Year Fixed Mortgage Rate Chart

(Thank you to Tracie Baichi of Prosperity Mortgage for the updated chart)

This is a great time to move. Prices have fallen but have generally now stabilized or begun to rise. Homes under contract continue to rise at a rate better than seen in 2012. The number of homes sold continue to rise. The statistics are pointing to a continued stengthening of the overall market. If this continues, both prices and interest rates could rise.

if you are looking to buy or sell in the three county area of Chester County, Delaware County, or New Castle County, you should be taking advantage of these rates now. If you have any questions or need any additional information, please do not hesitate to contact me anytime. To search properties by zip code in the Delaware County or Chester County areas go to www.SearchMediaHomes.com .

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

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

Two Chances to Meet the New Castle County DE 2012 Candidates

October 15, 2012

Two candidate debates are being held locally in New Castle County this week.

Thinking about the election this year? Don’t yet know the local candidates? This week you have two opportunities to learn more about this years candidates.

On Monday, October 15, the Greater Hockessin Area Development Association (GHADA) is holding its General Election debate starting at 7PM. The debate will be held at the Hockessin Memorial Hall located at 1225 Old Lancaster Pike in Hockessin 19707. The debate will include a variety of local, county, and state candidates including the Lieutenant Governor candidates and President of County Council President candidates.

On Wednesday, October 17, the Civic League for New Castle County is hosting the County Candidate Night at the Cranston Heights Fire Hall on Kirkwood Highway. Allan Loudell from WDEL radio will be the moderator. From 7:00-7:45, the first panel will include the New Castle County Council Candidates for Council President and Council District 9. From 7:45-8:15, we will hear from the Senate level candidates. From 8:15-9:00, there will be a second panel including the two New Castle County Executive candidates.

These elections are important, particularly this year. Be sure to take the opportunity to learn about the candidates and the local issues.

David Henke
Long & Foster Real Estate Inc – Wilmington, DE/Devon, PA
Office: 302-834-3431/Direct: 610-618-0808
www.DelawarePAHomes.com

Pike Creek, Newport, and Elsmere Real Estate Update

February 1, 2011

Pike Creek, Newport, and Elsmere continue to be popular areas for residents in northern New Castle County Delaware with affordable housing and loads of options.

Newport DEBetween Wilmington and Newark generally north of I-95 lie the communities of Pike Creek, Newport, and Elsmere.  This is a prime housing area due to its proximity and easy commutes to both Wilmington and Newark.  It also allows for easy access to I95 toward Philadelphia or south toward the Baltimore/Washington DC area.  Real estate housing is mixed throughout the area including everything from older historic homes to modern single family homes and condominiums.

Newport was one of the earliest settlements in the area and began development in the 1700’s as a potential trading hub and port.  Pike Creek HomesJust west of Wilmington, Elsmere did not really begin subdivision and development until the late 1800s and was incorporated as a separate town in 1909. Pike Creek is a census designated place, CDP, encompassing a broad area west and north of these communities, east of Newark and generally south of Hockessin.  The three zip codes of 19804, 19805, and 19808 cover the bulk of the three communities.

Real Estate Activity:
The real estate market activity here has mirrored what we have seen throughout much of the immediate area.  Home sale activity peaked in 2005 when there were 1137 completed home sales with an average of only 23 days on the market (DOM).   Delcastle Park DESince then both numbers have deteriorated with sales falling to 1057 in 2006 with 34 DOM, 957 in 2007 with 47 DOM, 744 in 2008 with 63 DOM, 702 in 2009 with 69 DOM, and 629 with 79 DOM.  These numbers represent an almost 45% fall in home sales pace and tripling of the average days on the market.

Pricing:
Home pricing has also experienced some decline in the area.  After the average home sale price first rose above $200,000 in 2005, the average sold price peaked in 2007 at $236,000. Since then the average fell to $221,000 in 2008, $212,000 in 2009, and 203,000 in 2010.  Some of this decline is a result of the home buyer incentives placing an emphasis on lower priced homes but this represents a 14% average price decline. County wide we saw an approximate 9% decline.

DE HomesIn 2011, there have been 18 sales with an average sales price of $173,000.  There are also 439 homes currently on the market with an average asking price of $208,000 and 47 homes currently under contract having an average asking price of $214,000. The 439 homes currently available represent an almost 8 month supply at the current sales pace (which is slightly less than the 9 month seen county-wide).

Overall sales activity has held up in the local area just slightly better than has been seen throughout the county, inventory is a bit less, while prices have declined slightly more.  With it’s great location, good transportation options, and wide variety of housing choices, the Pike Creek, Newport, and Elsmere area should remain a preferred housing choice as we move into 2011.

David Henke
Long & Foster Real Estate Inc – Bear, DE/Newtown Square, PA
Office: 302-290-2999/Cell: 610-618-0808
www.DelawarePAHomes.com

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