Posts Tagged ‘Chadds Ford PA Homes’

Chadds Ford PA Notes & Market Update

June 15, 2009

Located in the southwestern corner of Delaware County PA, Chadds Ford really combines the best of Delaware County, Chester County, and New Castle County.

Brandywine Battlefield Chadds Ford PAOriginally known as Birmingham Township, Chadds Ford finally changed it’s name on December 11, 1996.  The township is steeped in history.  It was named after John Chad who, at the urging and with some help from the county, ran a ferry over the Brandywine in this area starting in 1717.  The township  later hosted a critical battle during the Revolutionary War when the Battle of the Brandywine occurred just to the east of the river.  On September 11, 1777, 11,000 soldiers under Washington were defeated by 18,000 British and Hessian Troops as they advanced into Pennsylvania.

More recently, the area has been renowned as the foundation of the Brandywine School of Art and the residence of the Wyeth Family.  Begun as a summer school by Howard Pyle, the Wyeths came as students and three generations have never left.  Brandywine River Museum Chadds Ford PAMany of their works can now be found in the Brandywine River Museum located along the banks of the Brandywine near the original ford.

For years, agriculture was the primary activity in the area, but beginning in the last half of the 1800’s the Brandywine Valley became popular as a second home for families from both Philadelphia and Wilmington.  The valley continues to have the same attraction today and continues to be popular with families working in Wilmington, Philadelphia, and throughout Delaware & Chester Counties.

Real Estate activity in the area has followed much the same pattern we have seen throughout the county – although some of the actual numbers have been skewed by new construction activity in the region and some very high end property sales.  Sales activity in Chadds Ford Township Delaware County peaked in 2004 with 95 sales at any average price of $385,000.  Archie's Corner Chadds Ford PAIn 2005, prices spiked up to $506,000 but sales fell to 81 properties.  Sales continued to slide to 75 properties in 2006, 62 in 2007, and 50 in 2008.  Prices were more volatile with the average price falling to $455,000 in 2006, rising to $495,000 in 2007, and falling again to $404,000 in 2008.

In 2009 so far, 15 properties have sold for an average price of $400,000.  There are an additional 11 under contract with an average list price of $416,000.  Finally, 51 properties are currently still active on the market with an average list price of $648,000.   As you can see with all the above numbers, pricing can be very erratic due to the wide range of types and prices of the properties within the township.  On the other hand, sales activity has been similar to what we have seen throughout the county as it has drifted down over the last several years.

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)