Archive for the ‘Darby’ Category

SEPTA Travel Update – Philadelphia PA Area

July 27, 2009

Just a couple of quick SEPTA Update points for residents and those planning a visit to the region:

SEPTA Train Delaware County PAIf you are going to be in the area for just a brief period but plan on depending on public transit, SEPTA has now added three options: the One Day Independence Pass, the Family One Day Independence Pass, and the One Day Convenience Pass.  The primary differences between the Convenience Pass and the Independence Pass are that the Convenience Passes can not be used on the regional Rail Lines and are limited to only 8 trips.  The Independence Pass only places limits on the regional Rail Line travel prior to 9:30 AM.

If you only need easy transportation options while visiting for a short time, these allow more flexibility then the traditional Weekend Passes or weekly TransPass and TrailPass.  For all the options and costs, be sure to check the SEPTA site.

Also be aware that SEPTA is now beginning the projects approved under the American Recovery and Reinvestment Act.  SEPTA Logo PAFunding has been approved and awarded for various projects across the region.  The complete project list covers everything from Station Renovations to basic Right of Way and Yard work.  Many of theses projects have been discussed in a recent article from the Delaware County Sunday Times.  A key change to note is the upcoming closure of the Route 101 and Route 102 trolley lines for up to a year as the entire line is upgraded.

SEPTA continues to provide many transportation options throughout the Philadelphia area to serve the needs of the local residents.  With these changes both to fares and the physical system, this service should be in better shape for years to come with improved equipment and service.

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

Briarcliffe PA and Westbrook Park PA Home Market Update

July 24, 2009

Both Briarcliffe PA and Westbrook Park PA continue to be popular and stable housing choices.

Briarcliff Row Darby PABriarcliffe Darby Pa was last visited here back in March.  Since that time, the local home pricing has actually strengthened although the activity has remained leisurely.  The average prices for 2009 have climbed 4% from the early 2009 sales to an average settled price of $144,000.  Activity has remained slow with only 26 settlements year to date with an additional 12 under contract, but this activity could surpass the overall 2008 numbers.

Briarcliife Volunteer Fire Co Darby PACompared to activity at the same time in 2008, prices have risen 1.6% while activity has fallen 33%.  These numbers are comparable to what we have been seeing throughout the county.  The prices are also a bit higher due to several single family homes entering the mix.  If the market remains under pressure, we could see some additional pullback in prices as the year progresses.  Inventory remains reasonable with 33 homes currently on the market (twice the level seen in March) with an average list price of $152,000 and an average of 133 days on the market.

Westbrook Park Upper Darby/ Clifton Heights PA has also continued to hold its own.  There have been 24 sales this year to date 2009 at an average price of $152,000 exactly matching the average for 2008.  Westbrook Park Row Homes Upper Darby PAAs seen above sales activity declined 31% from the rate seen at this same time last year.  Pricing however has also remained basically stable falling from $153,000 in 2008 at this point to $152,000 this year.

The average days on the market have also climbed from 94 days in 2008 to 119 average days today.  Like Briarcliffe, this rise is not unreasonable, but the trend, should it continue, will lead to solid pressure to reduce prices.  There are now 21 homes on the market versus the 14 homes in January.  This seems reasonable on a seasonal basis.

Delaware County PA Row HomesBoth communities continue to have solid sales and remain within the price range of many first time buyers. The activity could remain steady through the first part of October as potential buyers align themselves to take advantage of the $8,000 First Time Home Buyer Tax Credit.  After that point pricing will depend on the actions emanating from Washington DC and the overall economic situation.

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

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

Briarcliffe Darby Township PA Update

March 11, 2009

Briarcliffe Row Darby Township PA

Since its construction in the fifties, Briarcliffe in Darby Township Pennsylvania has always been one of the most popular communities in the area.

This Suburban Philadelphia community with over 2000 homes is centrally located in eastern Delaware County just west of Collingdale, north of Glenolden, and generally southeast of Springfield.  Ashland Avenue, which runs through the center of Darby township and the community,  provides direct access up to Providence Road or south to MacDade Boulevard.  Oak Lane on the eastern edge is a major generally north – south route in the area.

Briarcliff is part of the Southeast Delco School District.  The Darby Township School, serving grades 1-8, is located on Ashland Ave within easy walking distance of much of the community. The Kindergarten Center has its own location just off Rively Ave.  This is adjacent to the Briarcliff Athletic AssociationBriarcliffe Athletice Association In Line Hockey This great facility includes baseball fields, field house, in-line hockey rinks, snack stand, and all the support facilities required for a strong community sports program.  Briarcliffe also has its own Briarcliffe Fire Company on Beech Avenue which has served the Briarcliffe and the surrounding communities since 1954.

Real Estate Values have done very well here over the years and continue to hold up well.  After having an average sales price below $100,000 in 2003, prices rapidly appreciated to top out with an average sales price of $148,000 in 2007.  Since then, as seen in most areas, prices have drifted down – about 3.4% in 2008 and an additional 3.3% in 2009 with eight properties having settled year to date in 2009 with an average sales price of $138,000, down 6.8% from their peak.  There has also been a corresponding drop in activity from 101 homes sales in 2006, to 96 home sales in 2007, and to 65 settled properties through 2008.

Briarcliffe PennsylvaniaCurrently there are an additional 15 properties for sale in Briarcliffe at an average list price of $147,000.  Nine homes are under contract with an average list price of $154,000 indicating continuing strong demand in the area, particularily for those in move-in condition.

If you are considering a move into the area, need a good central location, and want to be in a strong community, you need to check out Briarcliffe.

If you need any additional information or are considering buying or selling in the area, please do not hesitate to contact me anytime with questions.

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

Darby Borough PA – Settlement in the Foundation

February 20, 2009

Darby Borough has been one of the most stable real estate locations in Suburban Philadelphia and Delaware County.  It is also one of the least expensive areas often appealing to a wide variety of home buyers as well as to investors looking for solid investments.  With this steady demand and support, the prices in the area have remained almost flat for the last several years.

The Darby Free Library Needs Your Support!

Darby has a long history and has always seen demand for its housing due to its convenient location adjacent to Philadelphia and close to the Philadelphia International Airport.  Over the years though, its housing has not kept pace with some of the current trends.  Row homes remain the most common housing, but there has been a lack of new investment resulting in much new growth and development moving further west through the county.  This has worked out well with Darby being able to avoid the wide price variations seen in other Delaware County locations, and prices have remained remarkably stable until recently.

This stability may be coming to an end as prices seem to be settling quite rapidly.  In 2005, the average sales price was $61,000. In 2006, 2007, and 2008, the average sales price rose and stayed between $68,000 and $69,000.  Only in the last six months have we seen prices begin to pull back to an average price of $61,000.  In addition, the average list price of those homes currently under contract(13 homes) is only $54,000 anticipating a further decline in the average sales price.

Darby Borough PA Row Homes We have also seen a rather dramatic increase in the average days on the market (DOM) and corresponding decline in overall activity.  In 2005, there were 155 sales with the average DOM equal to 49, in 2006 there were 184 sales with 56 DOM, in 2007: 156 sales with 57 DOM, in 2008: 99 sales with 73 DOM, and the last six months saw 31 sales with 81 DOM.  Finally, today there are 78 homes still on the market with an average list price of $76,000 and 131 DOM.  Although activity has increased since the October stall, there is still potentially a years worth of inventory on the market.

Bottom Line: This could be a warning sign for Darby and the rest of Delaware County.  As higher end sales prices have drifted down over the last couple years, we have continued to see strong continuous demand supporting the bottom of the market and putting a floor under these prices.  Should this drop continue, we could experience another step down across the county.  The inability of this administration to generate any confidence in the financial markets is beginning to show up dramatically at the local level and could be a warning sign for additional problems ahead.

(All statistics from the TrendMLS system and believed accurate but not guaranteed.)