Archive for the ‘Suburban Philadelphia’ Category

Happy July 4th!

July 5, 2017

Happy July 4th!

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A bit of a soggy mess to end a great day but it looks like it will be clear so the fireworks can go on… I hope everyone had a great holiday. Enjoy the rest of the summer. Have a Happy 4th!

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

 

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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)

Happy Easter 2017

April 16, 2017

Happy Easter 2017

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A perfect April morning for a Riverfront Easter Sunrise Service in Wilmington Delaware.
Take some time to reflect, relax, and enjoy the day.

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

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)

Happy July 4 2016!

July 4, 2016

Happy July 4, 2016!

I hope everyone is having a great year. Be sure to take some time off to relax and enjoy your friends and family this July 4th. Thanks to everyone and have a great holiday!

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

Remember to Vote in the Primary! Now!

April 26, 2016

Today is Primary Day in both Pennsylvania and Delaware. The polls will remain open in both states until 8:00 PM. Please be sure to make your vote count before you lose the opportunity!

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It continues to be a volatile year with many closely contested races in many areas. Many elections will be effectively decided with the results of the primary …. and it is a beautiful day to be out, see your friends, and vote.

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

 

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)