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)

Have a Happy July 4 2015!

July 4, 2015

Have a Happy July 4 2015!

SwarthmorePAJuly42015

Have a great Holiday weekend! Relax, Enjoy, and get ready for the rest of a great summer! Be sure to remember it is always a good time to buy a home!

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

Memorial Day 2015

May 25, 2015

Have a Great Memorial Day!

Marple Township Veterans Memorial Broomall PA 2015

Good Memorial Day to all. Welcome to the unofficial beginning of summer. It’s a great time to relax, reflect, and recharge as we head into the summer. It’s also a great time to move! Enjoy the weekend, friends, and family, and take time to remember all those who have made it possible.

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

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)

Daylight Savings Time Begins Tomorrow

March 7, 2015

Remember to move your clocks ahead!

 

Once again, it’s that time of year to move your clocks ahead. Imagine the possibilities: You will able to sleep later in the dark. You won’t waste an extra hour sleeping tonight. You will have an extra hour of light in the evening. It really can’t get better than this so ….. Enjoy!

(BTW – It also makes it easier to buy and sell properties. Contact me now!)

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

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)

Happy Labor Day 2014

September 1, 2014

Happy Labor Day to All!

DSCN1040

&

To All a Good Fall!

Be sure to enjoy the remaining days of summer and recharge for a great fall season!

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

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)

705 Princeton Rd Westover Hills Wilmington DE 19807 Open House

August 8, 2014

Open House at 705 Princeton Rd this Sunday, August 10, from 1-3.

This Sunday, 705 Princeton Rd will be holding a public Open House from 1-3.

705 Princeton Rd

Situated on one of the most sought after streets in Westover Hills, 705 Priceton Rd is a beautiful 4 bedroom, 2.5 bath Tudor presenting a great open floor while utilizing many classic Tudor details.

705 Princeton Rd Living Room

The exterior exhibits the classic half timbered and detailed brick design elements found on many Tudor properties. The main property is attached to a separate two car garage by a breezeway off the kitchen.

705 Princeton Rd Dining Room

Large spacious light filled rooms are found throughout the property allowing for large gatherings and gracious entertaining. Hardwood floors, leaded and stained glass windows, custom cabinetry, wood burning fireplace, and a custom open stairway are just a few of the thoughtful design elements found throughout the property.

705 Princeton Rd Hallway

A large rear yard allows for plenty of space for entertaining or play. If you are looking for a perfect mix of old world design combined with today’s conveniences, be sure to include 705 Princeton Rd in your plans this Sunday.

705 Princeton Rd Westover Hills DE

Directions: from Kennett Pike /Route 52, turn right on DuPont Rd, then RIGHT on Westover, to second LEFT on Princeton to property.

If you have any questions or need any additional information, please do not hesitate to call. I look forward to seeing you.

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