Delaware County PA Home Sales Update

As seen in 2021, Delaware County PA home sales are off to a fast start in 2022.

For the second year, home sales in Delaware County Pennsylvania continue to be high but appear limited by the lack of active inventory.  Active inventory is down 16% from 2021, down 59% from 2020 and 80% from 2017. 

Year-to-date sales are basically level with 2021, but are 23% higher than in 2017. Pending sales have been fairly stable, down 4% from 2021 and 7% from 2017.

As seen in adjacent counties, the overall home sale market in Delaware County continues to be very tight with very low inventory. Sales activity appears constrained by the limited inventory. Multiple offers, limited inspections, and cash offers continue to be common issues for buyers on many properties.

If you need any additional detailed information on your area, contact me anytime.

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

Paxon Chase Real Estate Update

Real estate prices and activity remain steady in Paxon Chase.

Paxon Chase is a great home community built in the mid 1980s containing approximately 40 townhomes and 69 single family homes. Located off Paxon Hollow Rd in Marple Township, Paxon Chase offers a nice blend of semi rural living while being in close proximity to major transportation/commuting corridors. This location also affords plenty of entertainment and dining options in Media, the Main Line, and Philadelphia.

Route 320 is minutes to the east and Route 252 is just moments to the west with both providing easy access to the Blue Route (I-476), West Chester Pike, Baltimore Pike and Route 1. With I-95 just down the Blue Route, residents can easily travel toward Philadelphia, Wilmington, and beyond.  It is also convenient to both the Philadelphia International Airport and multiple rail options.

The community was developed in the 1980’s. The single family homes were primarily built between 1984 and 1986 while the townhomes along Trout Run Mews were completed in 1987. The single family homes are predominately between 2000 and 3000 square feet with a few ranging over 4000 sq ft usually with 4+ bedrooms. The three bedroom townhomes were on average slightly smaller averaging between 2128 and 2511 sq ft with four units containing 2740 square feet.

Paxon Chase is one of the more stable communities in the area resulting in a relatively slow turnover in properties and more stable pricing. Prices peaked in 2007 as seen in much of the area but have remained fairly stable. The average single family home pricing eased to $438,000 in 2010 versus a $487,000 peak in 2007 but rebounded in 2011 with one closed sale for $473,000. The townhomes saw prices bottom in 2009 with three sales averaging $291,000 but have since recovered into the low $300,000 range. The leisurely pace of sales combined with the variation in individual properties could explain some of this volatility.  In detail:

Paxon Chase Real Estate Activity:
Year:  Townhomes |Avg Price | Single Family |Avg Price
2006:          2            $365,000       1                  $479,000
2007:          1            $365,000       2                  $487,000
2008:          0              —                   1                  $463,000
2009:          3            $291,000       2                  $478,000
2010:          1            $332,000       1                  $438,000
2011:          1            $330,000       1                  $473,000
(excludes one $735,000 sale in 2011)

Today there are currently 4 properties on the market: one townhome for $345,000 and three single family homes with an average asking price of $491,000.

With it’s relatively stable pricing, great location, and variety of housing options, Paxon Chase should remain a great housing choice in the area for years to come.

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)

Cedar Grove Farms Real Estate Update

Cedar Grove Farms home prices have eased a bit but activity remains steady.

Since the Cedar Grove Farms Market update last August, prices have eased while activity has remained steady. As we saw, in 2010 through August, there were 2 home sales with an average sales price of $631,000. There were no additional sales in 2010. In 2011 year to date, there have been three sales with an average sales price of $584,000. All three homes were 4 bedroom properties with final sale prices of $565,000, $589,850, and $600,000. Only one property had a seller’s concession and it was only for $350.

In addition, there are currently 5 homes on the market ranging in price from $549,900 to $629,000. There are four 4 bedroom properties and one 5 bedroom with listed square footage ranging from 3032 sqft to 4364 sqft. The 5 bedroom home has a 3 car garage while the balance have 2 car garages.

Home prices and sales activity continue to hold up better here than in many local areas. With it’s ideal combination of location, amenities, and pricing, Cedar Grove Farms should continue to be a great choice.

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)

Delaware County PA Real Estate – Quick Statistics Update

Throughout 2010, the real estate market was challenged by

the economy and changing directions of Wall Street and Washington, but it looks as though 2011 may finally be the year that we begin to see some stability in the market.

It will still be another week or so until we receive the final sales numbers for the local area from the MLS system, but the daily market activity has continued to show an “interesting” year.

As of today vs January 4, 2010:

Status:                                   Yr – Qty            Yr – Qty         Direction
Active on the Market:          2011 – 3253     2010 – 2745        Up 18%
Pending/Under Contract:    2011 – 400       2010 – 497       Down 20%
Year-To-Date Sales:           2011 – 4486     2010 – 5034     Down 11%

With the reduced sales pace continuing through the end of the year, active properties currently on the market remained above the level seen in the past few years.  This continues to provide excellent opportunities for buyers now looking for a new home but will continue to put a break on prices until activity once again begins to pick up in the new year.

We’ll follow up with a complete market report later in the month after we receive the final numbers.  In the meantime, if you have any questions or need any information, please feel free to contact me anytime.  It looks like we can look forward to a stronger 2011.

David Henke
Long & Foster Real Estate Inc – Newtown Square,PA/Bear, DE
Office: 610-359-3853/Cell: 610-618-0808
www.DelawarePAHomes.com

Cedar Grove Farms PA Market Update

Cedar Grove Farms is a private smaller community of single family homes located just off Cedar Grove Rd in Marple Township Broomall PA.

Cedar Grove Farms is located just south of Cedar Grove Rd in Marple Township/ Broomall PA.  The development is about midway between Sproul Rd/ Route 320 and Newtown Street Rd/ Route 252.  This provides the residents immediate access to Media, Newtown Square, and Broomall and very easy commuting options along Route 1,  Route 3/ the West Chester Pike, and The Blue Route/ I-476.

Cedar Grove Farm is a newer community with the majority of homes completed between 1990 and 1994.  The development includes over 125 homes averaging 3500-4000 sqft but with sizes ranging over 5,000 sqft.  Most properties include 4-6 bedrooms with 2.5+ baths, full basements, and 2 or 3 car garages.  The lots are generally less than half an acre.

This is a very stable area with a relatively slow turnover of properties, and it has not seen the steep rise and fall in prices experienced by some nearby home developments.   Activity peaked in 2003/2004 when there were five sales each year and prices rose from an average sales price of $568,000 to $660,000.  Since then prices have largely remained in the low $600,000 range.  There were 3 sales averaging $628,000 in 2005, 4 sales averaging $666,000 in 2006, 1 sale for $740,000 in 2007, 1 sale for $510,000 in 2008, 1 sale for $675,000 in 2009 and 2 sales year-to-date 2010 averaging  $631,000.  Today there are 5 home on the market with an average list asking price of $632,000.  No homes are currently under contract.

With it’s great location, stable neighbors, and reasonable pricing, Cedar Grove Farms should remain a popular mid-price choice in Broomall for years to come.  Activity should begin to pick up as real estate activity in general begins to turn around creating additional move up/down buyers in the region. 

David Henke
Long & Foster Real Estate Inc – Newtown Square,PA/Bear, DE
Office: 610-359-3853/Cell: 610-618-0808
www.DelawareCountyPennsylvaniaHomes.com

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

Lawrence Park Broomall PA Real Estate Update

The Lawrence Park PA real estate market in Marple Township Broomall PA is holding up very well.

After taking a hit in both volume and pricing through 2008, Lawrence Park Delaware County has stabilized with the average prices even increasing just slightly in 2009 year to date.  As seen in the previous Lawrence Park Update, prices in the community had fallen from an average of $317,000 with 38 sales in 2007 to an average of $302,000 with 20 sales in 2008.  In 2009, there has been some improvement.

After having no sales in January and prices hitting a low of $274,000 with one sale in February, prices have risen a bit.  In March there were 2 sales at $290,000, 1 sale in April for $295,000, 1 in May for $340,000, 3 in June at $303,000, and 4 in July for $312,000 for an average year-to-date sales price of $304,000.  This average is expected to drift down as there is one pending sale for $299,000 and there are currently 4 additional properties on the market with an average list price of $292,000.   Generally there is some price weakening toward the end of the year.

Unlike many areas in Delaware County PA, Lawrence Park has been able to maintain a relatively stable home pricing environment.   As noted before with its prime location, great housing, and easy access, Lawrence Park should retain its reputation as a great place to live.  This should continue to be reflected in a stable real estate market with relatively consistent pricing as the economy continues to slowly recover.

As always, if 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)

MarpleWoods and Haverford Hill – Condos & Town Homes in Delaware County PA

(Be sure to check out the Haverford Hill update)

If you want to live outside the city but still crave the convenience of condo and town home living, you have a wide variety of options throughout Delaware County.  The area contains a diverse collection of condominiums ranging from the east with traditional properties such as the Contemporary Village in Glenolden and the Wildman Arms in Lansdowne to the more recent additions to the north and west such as Green Countrie Village in Newtown Square  and Runnymeade Farms in Edgmont Township.

With most of the communities under common maintenance, they allow the owners the flexibilty to come and go as they please knowing that their properties will be well tended.  Many owners also look for easy access to primary transportation links.  Two communities that are centrally located in the county close to major county crossroads are the Haverford Hill Condomiums and the townhomes in the adjacent communities of MarpleWoods and San Francisco East.

The Haverford Hills Condominiums are located just east of the intersection of I-476 (The Blue Route) and the West Chester Pike on Glendale Road in Havertown, Haverford Township.  They include over 250 one, two, and three bedroom units in several traditional buildings.  This location affords easy commuting options both locally as well as into much of the Main Line, east and west along West Chester Pike, and to points ouside the immediate area using The Blue Route.

In Haverford Hills, the pricing has remained fairly solid over the last several years with the two bedroom units rising from an average price of $149,000 in 2005 with 18 sales to $162,000 in 2007(14 sales) and $163,000 in 2008(9 sales).  In the last six months 3 units have settled with an average price of $162,000 and an additional eight are currently on the market for  an average list price of $174,000.  The average price will be coming down as there is currently one unit pending with a list price of $149,000.

One exit to the south on the Blue Route (I-476) at the Route 1 intersection in Marple Township, you can take advantage of the adjacent communities of Marple Woods and San Francisco East located just to the west of the freeway.  Located at the top of a hill north of Old State Rd, these communities contain over 200 town homes in a nice private environment.  This location provides you with easy access to much of the area by both Route 1 (which becomes Township Line Rd and then City Ave as you head further north and becomes Baltimore Pike to the south) and I-476.  You are also just minutes from Route I-95 and the airport.

With a nice mix of mostly two bedroom units in both communities, the average sales price has remained between $203,000 and $207,000 from 2005 through 2008.  In the last six months, there has only been one sale for $190,000 and it appears prices are also heading down here with the current list prices averaging $205,000.  This mirrors what we have been seeing in many communities in the county.

These are just two of the many options in the area.  If you want to take advantage of suburban Philadelphia living but still want the convenience of condominium or townhome living, you have a wide variety from which to choose.

If you have any questions or would like to investage further, feel free to contact me anytime.

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

Lawrence Park PA Remains a Solid Choice

Since development began in the 1950s, Lawrence Park has remained one of the most popular communities in Marple Township.  It is situated just east of Lawrence Road, north of Sproul Road, and west of the Blue Route, I-476.  Lawrence Park Shopping Center was built at the same time and still anchors the corner of Sproul and Lawrence Roads.  Just to the south lies Lawrence Park Industrial Park with a mix of commercial and light industrial businesses and further south is Cardinal O’Hara High School.  It is just minutes from the I-476 Marple Broomall exit providing easy commuter access throughout the region. 

The community was originally planned with approximately 1200 homes and was developed by Ralph Bodek – one of the leading developers in  suburban Philadelphia at the time.  Split level designs predominate but there are a variety of other floor plans available throughout the community.  In addition, there are condos and apartments adjacent to the single family homes affording a wide choice of housing for anyone moving into the area.  The development is also part of the Marple Newtown School District with the Wilmer F Loomis Elementary School conveniently located in the center of the community.  Next to the school is the Lawrence Park Baseball fields which are the home to the South Marple Little League.

Real estate values have held up very well over the years and continue to be relatively stable even in this market.  As we have seen in most areas, prices for the single family homes here declined from an average price of $317,000 in 2007 to $302,000 in 2008 paralleling activity declines from 38 sales in 2007 to 20 in 2008 (in 2006 there were 31 sales at an average price of $310,000).  Today there are seven active homes on the market with an average list price of $350,000 and three pending sales with an average $294,000 list price.  This has been a very strong price range in Delaware County.

With its location just west of Philadelphia, Lawrence Park continues to be attractive for people looking for more space in a pleasant suburban location but still within easy access to all the region has to offer.  With this position, even in this economy, homes would be expected to hold their value relatively well as compared to other developments.

If you need any information or have any questions, please feel free to contact me anytime.

David Henke

(All information from TrendMLS is believed accurate but not guaranteed)