Happy Memorial Day 2013
Take some time to relax and enjoy the holiday weekend.
It is a great time to buy or sell. The real estate market continues to remain strong with interest rates near long term lows.
David Henke
Long & Foster Real Estate, Inc – Devon, PA/Wilmington, DE
Office: 610-225-7400/Direct:610-618-0808
http://www.DelawarePAHomes.com
*** Open House at 6 Spruce Rd 19073 in Castle Rock ***
*** This Saturday May 28 from 12-2 ***
After peaking in 2007, Edgmont Township home sales activity and sales prices have stabilized over the last few years.
Edgmont Township is located in western Delaware County and is crossed to the north by the West Chester Pike and south by Middletown Rd. Founded in 1687, it started as part of Thornbury Township and was originally inhabited by the Lenape Indians. Over the years it was primarily an agricultural area with large farms throughout the west and many mills developing along Ridley Creek. In the early 1900’s the area along the trolley lines on West Chester Pike known as Castle Rock became a popular amusement park, picnic grove, and entertainment area. Today, Edgmont is home to much of the Ridley Creek State Park and many of the existing farms have been developed into newer housing developments.
With a wide variety of mostly higher end housing options throughout the township, Edgmont has been a very popular housing choice in the area. As seen in much of Delaware County, both sales activity and prices peaked in 2007 when there were 61 sales with an average sales price of $720,000 in the township. This included sales from several new developments that were under construction.
Since then, home sales and prices have fallen but continue to retain their value better than many areas in this economic environment.
Prices declined to an average sales price of $530,00 in 2008 with 45 sales but then continued with 34 sales averaging $550,000 in 2009, 50 sales averaging $507,000 in 2010, and 14 completed sales averaging $551,000 in 2011 year-to-date. Currently, there are 57 homes on the market having an average asking price of $685,000 with an additional 11 properties now under contract averaging $658,000.
Today, Edgemont Township continues to retain the best of both worlds with plenty of housing options but in a more semi-rural environment. Edgmont’s central Delaware County location affords easy commuting options into Philadelphia, Wilmington, West Chester, and throughout the region. This combination has allowed home prices and sales activity to remain more stable on a relative basis than seen in much of the area.
David Henke
Long & Foster Real Estate, Inc
Devon PA/Wilmington DE
Direct:610-618-0808 – Office:610-225-7400
www.DelawarePAHomes.com
(All statistics per the TrendMLS System and believed accurate but not guaranteed)
Captain Chucky’s Crab Cake Co continues to be rated as the best crab cakes in the area – “Crab With An Attitude”.
Thousands of people drive by Capt’n Chucky’s Crab Cake Co everyday and most probably don’t realize that they have just passed by the best crab cakes in Delaware County PA. Located in a small shop just off West Chester Pike in Ridley Creek Plaza , there is nothing to announce what waits inside but perhaps their delivery truck.
Voted as:
– “Best of the Main Line” – Main Line Today
– “Best Crab Cakes” & ” Best Seafood” – Town Talk
– “Best Crab Cake” – Main Line Life
– “Good Neighbor Award” – Edgemont Township
Capt’n Chuckys continues its run as the best in the area. The crab cakes and other seafood items are available directly in Edgemont or from many restaurants throughout the region.
The food is brought in daily and made on site to be the freshest possible. Their specialty is the “Smith Island” Jumbo Lump Crab Cake made with “succulent, tender, lump crab meet gently folded in a mayonnaise flavored cream sauce, no breading”. They actually have six different types of crab cakes, including one wrapped around a Jumbo Shrimp, all filled with all jumbo lump crab meet. In addition, they carry five different types of soups from Cream of Crab and Maryland Crab to Snapper and Shrimp Bisque.
If you are considering a fundraiser, Capt’n Chucky’s participates with many local organizations to support our community. They also have a full line of crab and shrimp appetizers plus all the fixings and carry a selection of Pellman’s Cakes and Pies to cover all your party planning needs. Looking for gift certificates? – these are available as well. Even if you do not live in the area, they ship across the US and Canada.
So if you feel like a bit of good food or you’ve moved and your missing your crab cakes, be sure to drop by, call, email, fly in, or have some of the best crab cakes in the world shipped out to salve your cravings. You’ll be glad you did. The owners, Nancy & Chuck Wojciehowski, are always available to answer any of your questions.
As always, if you need any additional information, please let me know anytime.
Luxury Home sales in Delaware County PA have continued to maintain their leisurely pace as we head into the summer.
As we have seen in many areas of the county, the Luxury Home sales rate (those homes listed for $1,000,000+) peaked in 2007 with 132 closed home sales with an average price of $1,737,000. Average pricing has remained relatively consistent from 2003 through 2008 with pricing ranging from a low of $1,642,000 in 2006 to a high of $1,758,000 in 2004. The actual highest individual home price peaked in 2005 with one $5,000,000 sale. Since then we have seen the top price decline to $4,250,000 in 2006, $3,799,000 in 2007, $3,300,000 in 2008, and $2,200,000 so far this year.
Year to date, we have seen 19 completed sales at an average final price of $1,836,000, a slight price increase from the average seen in prior years. In addition, there are 24 homes pending with an average list price of $1,516,000 so the average sold price would be expected to move down. At this sales rate, it appears that we can expect another decline from the 93 completed home sales in 2008. There are an additional 167 homes currently on the market with 5 listed for over $5,000,000 and with the highest two properties listed for over $9,000,000; 
both are located in Radnor Township. If we maintain the current sales pace, there is an almost 2 year supply of homes now on the market.
Overall, it appears that new home construction continues to be favored in these price ranges. Nine of the homes settled year to date are new construction and 11 of the pending properties are also new construction. Of the additional 167 homes currently on the market, 68 are listed as new construction. Luxury buyers appear to continue to appreciate the flexibility and convenience of the new construction opportunities.
Bottom Line: Although the luxury home market activity has actually increased a bit from the extremely slow pace of the fourth quarter, economic and financing issues appear to continue to weigh heavily on the market.
As always, if you have any questions, comments, or need any additional information on any of the properties available, please do not hesitate to contact me anytime.
(All statistics are from the TrendMLS System and believed accurate but not guaranteed.)
As a follow up to my earlier post on Runnymeade Farms, this weekend we have the opportunity to visit one of the town homes in The Clusters of Runnymeade Farms Edgmont PA. The home will be having an OPEN HOUSE this Sunday, Mothers Day, from 12:00-2:00
This is a large 3 bedroom, 2.5 bath townhome located at the end of the cul de sac at 9 Muirfield Court listed by Janice Grogan Brown in our office. As you will find in many of the Runnymeade designs, it has a great open floor plan taking full advantage of it’s ideal location and views. The first floor rooms are ideal for entertaining with a great flow including the deck opening to both the dining and living rooms. The second floor features three bedrooms with an additional sitting room/office area opening to the downstairs area. There is also a full basement with it’s own private patio opening to the back yard. The video show it best:
This unit is priced at $329,000. Currently there are 11 units of all types available in Runnymeade Farms for an average price of $303,000. The last unit that sold in the Clusters was a unit on Sawgrass for $286,000 in September of 2008. In the last six months, six condominiums have sold and one single family home with one additional condominium now under contract.
This is a great opportunity to take a look at the only town home currently available in Runnymeade Farms. Please feel free to contact me with any questions and I look forward to the opportunity to see you this Sunday at 9 Muirfield Court from 12-2.
(All statistics from TrendMLS System and believed accurate but not guaranteed. Directions: from Rt 3/West Chester Pike go south on Providence Rd to left on Runnymeade Drive, then bear left at stop sign and follow Runnymeade Drive to fifth left to the entrance to The Clusters at Muirfield Court)
Open House Sunday May 10, 12-2 Town Home Muirfiled CT
Conveniently located off Providence Rd just south of the West Chester Pike (Rt3) in Edgmont Township PA, Runnymeade Farms remains one of the most popular housing choices in the region. Encompassing everything from small condominiums up to large single family homes all in a community with its own tennis courts, swimming pool, and plenty of open land, there is something to be found for most anyone.
Runnymeade Farms actually has several separate sections. Single family homes are found in the original Runnymeade Farms, The Ridge, Canter Village, The Reserve at Springton Pointe, and Springton Woods. Pritchard Place is largely traditional condominiums. The Clusters and a few units within Prichard Place are town-home construction. All the various areas have access to the shared pool and tennis facilities.
The community covers a huge price range. Starting at the lower end, Pritchard Place is primarily composed of 2 bedroom 2 bath condos although there are also some one bedroom units and some town-home designs. Average pricing rose from below $200,000 in 2004 to peak at $233,00 in 2006 with 13 sales. Since then prices have drifted down to $214,000 with 14 sales in 2008 and $202,000 with 2 sales year to date in 2009.
The townhomes are most commonly 3 bedroom units concentrated 
in The Clusters on Sawgrass Lane and Muirfield Court with some additional two bedroom units in Pritchard Place. Pricing in these units also peaked in 2006 with only 2 sales averaging $328,000. These prices have also been heading down to an average of $291,000 in 2007 (5 sales) and $265,000 in 2008 (3 sales). Due to the small volume of sales, the price drop appears more dramatic than it is due to a shift in the mix of sold properties.
The single family homes have a more varied picture. Due to the wide range of styles, settings, and sizes, it is much more difficult to make any generalizations as far as pricing. From 2004 through today, averaging pricing has ranged from a high of $616,000 in 2005 (13 sales) to an average of $490,000 (2 sales) so far in 2009, but this encompasses sales prices from well below $400,000 to well above $800,000. The pricing is very much 
dependent on the homes exact location within the community. Let me know if you are looking for pricing in a particular location and I can quickly provide you with some additional details.
Today, there continue to be a good selection of homes currently available. Properties now available range from 3 one bedroom condominiums priced below $200,000 to 3 three and four bedroom single family homes priced in the mid $500s. In all there are 18 properties on the market with an average asking price of $365,000 and three additional homes are currently under contract with an average list price of $324,000.
So if you are considering a move to a nice Pennsylvania country location with easy access to major highways and commuting routes and are looking for the amenities that can be found in a nicely planned community, it would be difficult to find a more all encompassing choice than Runnymeade farms. In addition, 
the community is just minutes from future commercial development along Route 3/ West Chester Pike in both Edgmont and Newtown Square which should afford ample local entertainment options in the future. It is also just minutes from the outdoor facilities and trails in Ridley Creek State Park. From the convenience of small one bedroom condos to the privacy and ease of living in a large single family residence, they can all be found within Runnymeade Farms. Feel free to contact me anytime for further information.
(All statistics from the TrendMLS System believed accurate but not guaranteed.)
Just West of Philadelphia 