Archive for the ‘Statistics’ 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
http://www.DelawarePAHomes.com

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

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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)

Haverford Hill Condo Sales and Activity Real Estate Update – Haverford PA

November 14, 2014

The Haverford Hill Condos have continued to be a popular housing choice in Delaware County, but prices have fallen.

Since the last update on Haverford Hill in 2011, prices have weakened considerably resulting in increased activity. Haverford Hill Haverford PAFor the two bedroom condos, in 2011 there were 4 sales with an average settled price of $120,000 (down from an average $143,000 in 2012). Average prices then declined to $98,000 with 5 sales in 2012, and then $89,000 with 8 sales in 2013. In 2014 year to date, there have been 5 sales averaging $108,000. In addition, there are three 2 bedroom units on the market with an average asking price of $110,000 and one unit listed for $185,000. With the average pending unit prices lower than settled year to date, the average price for the year should fall from the $110,000 level.

For the one bedroom units, in 2011 there was only one sale for $94,000. This then fell to 3 sales averaging $65,000 in 2012 and no sales were listed for 2013. In 2014, year to date, there have been 5 sales with an average sold price of $66,000. There are also 2 units on the market with an average list price of $75,000.

Haverford Hill CondominiumsThere have also been several scattered 3 bedroom sales with pricing from $80,000 to $135,000.

Overall the pricing and activity in the Haverford Hill condos has tracked the activity seen in much of the county except that the fall in pricing occurred later here than seen in many other individual communities. It appears though that pricing and activity have stabilized or strengthened as we have moved through 2014 and it is expected that it should remain solid going forward.

As always, if you have any questions or would like to visit the area, please contact me anytime.

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)

Westhaven & West Park Homes and Real Estate Update

August 20, 2014

Westhaven and West Park are ideal home choices for those looking for great classic housing in a convenient close to Wilmington location.

Westhaven & West Park Wilmington DE 19807Westhaven and West Park are two neighboring developments adjacent to Westover Hills. They are located just west of DuPont Rd and north of Lancaster Pike across from the Cab Calloway School of the Arts. This location provides immediate access to Greenville, Hockessin, Wilmington, and all of New Castle County.

With just over 80 properties, Westhaven was developed first. Construction began in the early 1930s and continued through the forties and later but over half of the homes were completed between 1939 and 1945. Westhaven contains a nice mix of mostly 3 or 4 bedroom two story colonials. Individual properties range from 1,675 sqft to over 3,000 sqft with the most common size being in the 2,000-2,500 sqft range. Individual lot sizes range to over half acre but most are just under a quarter acre.

Westhaven Home Greenville DE 19807Over the last few years, Westhaven home prices and sales have been fairly stable with an average 2-4 sales per year. The average sales price has generally remained in the mid $400,000 range with individual pricing ranging from $288,000 to over $600,000. In 2014 year to date, there have been 4 home sales with an average price of $423,000. There is also one home pending with a list price of $335,000 and one property for sale listed for $569,000.

West Park is the smaller more recent neighbor with about 45 properties. West Park has a wide range of styles including capes, colonials, ranches and split levels homes. Construction began in 1959 with most completed by 1966. Individual sizes ranged from 1,625 sqft to 3,950 sqft, but like Westhaven, the most common size was between 2,000 and 2,500 sqft. West Park Home Wilmington DE 19807Lot sizes were comparable to Westhaven averaging around a quarter acre.

Although sales have been fewer due to the smaller community size, West Park prices have not been as strong as seen in Westhaven and Westover Hills. The pricing could be impacted by the potential for new development in the area. One home sold in 2013 for $375,000 and there has been only one completed sale in 2014 for $300,000. There are no properties currently under contract or available on the market.

Both communities offer excellent housing choices in a convenient location with immediate access to great shopping, good schools, and all the area has to offer. Be sure to include them in any search 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)

Westover Hills Homes Update – Greenville DE 19807

August 4, 2014

Westover Hills continues to be a premier housing choice in Wilmington Delaware.

Westover Hills HomesWestover Hills DE HomeWestover Hills is situated in a prime location along Route 52 / Pennsylvania Avenue just beyond the Wilmington city limits. It was designed in four separate sections generally moving from the city limits beyond the original Wilmington Country Club property (now part of the University of Delaware) out toward Greenville. The first homes were completed in the 1920’s and new construction continues to this day, but there were three particularly active construction periods from approximately 1935-1940, 1945-1956, and 1996-2000. This has afforded the community a wealth of individual home styles, sizes, and designs that have always attracted Wilmington’s elite.

Westover Hills Greenville DE 19807Today, with almost 400 properties, Westover Hills is the ideal community for those looking for luxury living in a suburban environment with easy access to Greenville, downtown Wilmington, and all the surrounding area. A buyer can find a property to suite almost any lifestyle, from comfortable classic Colonials, to custom Tudors, to large estate properties ranging to over 10,000 square feet of interior space on spacious private lots. Homes have been continually updated and expanded to reflect the current state of the art in housing. Developed to take advantage of it’s natural location, it is a true neighborhood with winding streets, friendly neighbors, stability, and privacy.

Westover Hills Wilmington DE HomesWestover Hills is located close to the intersection of the Kennett Pike (Route 52) and Route 141 between Wilmington and Greenville. Route 52 is part of the Brandywine Valley National Scenic Byway rich in area history and attractions. A number of small shopping areas with boutique style shopping for both food and clothing are nearby in Greenville and Centreville. In addition, it is a choice location with easy access to great schools – both public and private.

The Westover Hills’ location also provides easy access to downtown Wilmington as well as easy commuting options to Philadelphia, Chester County, Delaware County, and beyond. Westover Hills Greenville DE 19807Westover Hills Delaware HomesAmtrak trains and SEPTA are moments away through the downtown Wilmington train station, while the Philadelphia International Airport is just a short distance across the PA line south of Philadelphia.

Housing prices in Westover Hills have experienced the same pricing cycle as seen through much of New Castle County. Prices and activity peaked in 2005 when there were 22 sales and bottomed in 2011 when there were only 11 completed transactions. Today, there are 9 properties on the market with an average listing price of $895,000 with individual prices ranging from $549,000 to over $1,500,000. Two properties are pending with an average asking price over $1,000,000. Six propeties have settled this year with an average sale price of $774,000.

Westover Hills continues to be a prime destination for those seeking top notch living in a convenient neighborhood offering privacy, luxury, and immediate access to everything the area has to offer. Should you need any additional information, please do not hesitate to contact me.

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

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

Ashbourne Hills Homes Update

July 13, 2014

Ashbourne Hills prices have strengthened on a slight fall in activity.

In our last August 2013 Ashbourne Hills Update, prices had been basically stable for the last several years with an uptick in activity in 2012 as the market initially responded to the lower prices. For 2013 as a whole, there were 18 completed sales having an average price of $179,000 and averaging Ashbourne Hills Homes72 days on the market. Final prices ranged from $75,000 to $256,000 reflecting the wide range in condition and amenities available.

In 2014 year to date prices have risen with 9 completed sales averaging $199,000. Once again, we are seeing a wide range of final sales prices from $70,000 to $250,000. The average days on the market has also fallen to 51. In addition, there are 3 properties under contract with an average asking price of $182,000 and 8 properties active on the market with an average list price of $235,000.

With the rise in pricing, we are seeing just a slight fall in activity but this could be quickly overcome as we head through the year. Ashbourne Hills remains a solid choice for those looking at homes in the North Wilmington area and should be included in any area search.

 

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

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

 

Middletown Township Media PA Homes Update

July 12, 2014

Middletown Township should continue to be a popular local housing choice with a wide variety of housing options, great amenities, and easy access to all the area has to offer.

Middletown Media PA HomesMiddletown Township Media PAFounded in 1686, Middletown Township is located just west of Media Borough in central western Delaware County PA. Penn State has a satellite campus off Route 352 toward the north of the township with the Tyler Arboretum and part of Ridley Creek State Park also to the north. The commercial/entertainment area is centered in Lima around the Granite Run Mall . The Elwyn Institute is located to the east and the original Franklin Mint Property which will anchor the redevelopment in the area is located to the west. Chester Creek forms most of the southern boundary of the township.

Elwyn PA SEPTA Regional Rail StationElwyn PA SEPTA Regional Rail StationMiddletown is conveniently located with Route 1 running basically east -west through the center of the township offering easy access throughout Delaware County and a quick connection to the Blue Route, I-476, to the east. Route 452 runs directly south from Route 1 at the Granite Run Mall heading towards I-95. Route 352 traverses the township from the southeast toward Chester to the northwest into West Chester and Chester County. Baltimore Pike takes you directly into downtown Media. The Elwyn SEPTA Regional Rail station is also located adjacent to Elwyn providing direct rail access to Media and downtown Philadelphia.

Middletown PA Friends Meeting HouseWith a long history, Middletown covers a wide range of Middletown Township PA Friends Meeting 1836housing options from historic early homes, to condos, townhomes, and a wide variety of single family properties. Riddlewood is one of the larger single family developments just off Route 1 and Route 452. Over the last decade, there has been quite a bit of new infill construction. In addition, redevelopment of the Franklin Mint site should contain a wide mix of housing and commercial options.

The Middletown Township home sales activity and home prices have held up much better locally than seen in many other areas of the county. Home sales activity peaked in the 2003-2006 time frame with 154-174 home sales per year. This fell to a low of 104 -113 home sales per year between 2008 and 2011 but recovered to 124 sales in 2012, 157 in 2013, and 68 in 2014 year to date.

Middletown Media PA HomesMiddletown Media PA HomesThe average home price peaked in 2007 with an average sales price of $387,000. Prices ranged from $1,500,000 to $80,000. In 2011, the average sales price reached a low of $327,000. Since 2011, the average price has tracked the increase in sales with the average increasing to $329,000 in 2012, $341,000 in 2013, and $363,000 so far in 2014. In addition, there are currently 63 homes on the market with an average list price of $423,000 and 25 properties are currently under contract but not settled with an average asking price of $336,000.

With its central location, shopping around Granite Run Mall, educational opportunities, and direct access to the amenities of Media, Middletown Township should continue to be a popular housing choice with expected strong stable pricing. The local economy should continue to benefit from both the local redevelopment as well as the recovering economy throughout the region.

 

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)

New Castle County Delaware Home Sales Update

July 2, 2014

The pace of New Castle County Home Sales has eased from the pace in last two years but continues to be solid.

Today there are 2,583 properties currently listed for sale in New Castle County with an additional 939 under contract. The average list price of those properties listed in June was $267,000 versus a year to date average list price of $257,000. There have also been 2444 completed sales with an average sales price of $225,000.

Canal BridgeOn July 2 of 2013, there were 2,354 properties for sale, 1028 under contract, and 2565 homes had been sold. The average list price for the first six months of 2013 was $240,000 while the average sales price was $221,000.

The 2014 numbers represent an increase of 229 properties on the market (+9.7%), decrease of 144 homes under contract (-14.0%), and decrease of 121 properties sold (-4.7%).

Though weaker, the overall numbers appear fairly solid for New Castle County considering the weather and overall state of the economy. Expecting a stronger market, sellers are asking more, but the completed sales prices indicate a fairly stable pricing environment (up less than 2% year to year).

Based on the current market, it looks like we will be seeing more of the same as we continue through 2014. As always, don’t hesitate to contact me anytime with questions.

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

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

 

 

Bear DE Home Sales Update – Zip 19701

June 16, 2014

Bear Delaware home sales continue on a steady pace as we approach summer 2014.

By the numbers:

Year to date there have been 151 home sales in the Bear De Zip code of 19701. This is exactly the same number year to date as in 2013. The average sales price has risen 10% from $211,000 to $233,000. Final sales prices ranged from a high of $599,495 to a low of $23,000. Bear DE Zip 19701The average total days on the market has risen from 78 days in 2013 to 86 in 2014. The final price realized to the final list price ratio has also risen from 96.72% to 97.6%.

In addition, there are 83 properties currently under contract with an average sales price of $237,000 and 143 properties on the market with an average asking price of $283,000. Current prices range from a low asking of $25,000 to a top price of $749,900. Of these, 43 were listed in the last 30 days.

Bear home sales are expected to continue their steady pace through 2014 reflecting the stable area economy and great financing rates currently available.

Questions on the area? Buying or selling, contact me anytime.

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

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