Posts Tagged ‘Delaware County Homes’

Delaware County PA Home Sales Activity Update

March 1, 2013

Initial 2013 Delaware County PA home sales activity indicates a stronger area market.

It usually takes another week or so to have the accurate home sales statistics but the initial numbers indicate a stronger 2013.

Through February for all Delaware County we are seeing:

Active Listings On the Market: 2894 homes (down 23% from 2012)
Homes Under Contract: 724 homes ( up 9% from 2012)
Homes Sold Year to Date: 478 homes (up 18% from 2012)

Media PA Lawyers Row Offices

After several years of a relaxed market, we are finally seeing some stronger signs of activity. Listings are declining both here and in surrounding counties***. Homes under contract are rising nicely and sales are following. This bodes well for pricing and sales as we enter the next two months which are traditionally the most active months for both new listings and homes going under contract. (Settlements usually peak in June and August)

These numbers will be updated once we have the final month end sales figures and pricing through February. For all the current Delaware County Listings feel free to search SearchMediaHomes.com .

*** The above compares to activity in Chester County:
Active: 2700 (-18%)
Under Contract: 817 (+25%)
Sold: 579 (+8%)

and activity in New Castle County Delaware:
Active: 2089 (-23%)
Under Contract: 838 (+7%)
Sold: 601 (0%)

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

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

Classic Drexel Hill Twin – Open House Sunday – 4109 Vernon

October 12, 2011

This Sunday, October 16, from 12:00 – 2:00, we will be having an OPEN HOUSE at 4109 Vernon Rd in Drexel Hill PA 19026.

Vernon Rd is located in Drexel Hill PA just south of Garrett Rd and west of Burmont Rd. This location provides easy access to Baltimore Pike, State Rd, and Township Line/Route 1 providing easy connections to most of Delaware County. It is also just minutes from I-476 to the west or I-95 and the Philadelphia Airport to the south for commutes into Philadelphia, Wilmington, or Norristown. Vernon is also just moments from great entertainment and dining options throughout the area. The home is less than three blocks from the SEPTA 102 Trolley Line Drexel Manor stop providing immediate access to 69th Street and Philadelphia.

Listed by Arleen Kelly, 4109 Vernon is a classic Drexel Hill Twin home. The property has three bedrooms and 1 bath. The living room includes a wood burning fireplace and opens to an enclosed front porch and light bright dining room. Upstairs you will find three bedrooms with a full ceramic bath. There is an unfinished direct walkout basement and a one car garage. It has been freshly painted outside and has newer tilt-in windows and hardwood floors throughout.

Vernon is competitively priced at $122,500. Drexel Hill twin homes in the immediate area have an average asking price of $136,000. There are currently 6 homes under contract with an average list price of $135,000, and there have been 16 sales at an average $126,000 final price.

With it’s great location, multiple commuting options, and easy access to all the area has to offer, 4109 Vernon is a great home that should be included in any visit to the area.

***Be sure to stop by this Sunday from 12-2***

Directions: From Township Line Rd/Route 1 or State Rd go south on Burmont to Garrett. Proceed west on Garrett two blocks to south on Drexel to right on Vernon. From Baltimore Pike, go north on Garrett until you reach Drexel and turn right to Vernon.

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

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

Delaware County PA Homes Inventory Update

July 17, 2011

Unsold housing inventory continues to rise while sales continue their leisurely pace.

Last week the active inventory for homes for sale passed the 4100 level for the second time this summer. This year-to-date, 2083 homes have been sold.

Year:  Homes on the Market | Homes under Contract | Homes Sold
2010:            :3709                                 637                               2721
2011:            :4124                                 658                               2083
Change:       +11%                                 +3%                           -23%

Sales continue to lag this year as we remain well below a more “natural” sales rate. On the inventory side, the 4124 homes on the market represent an 11.1% rise over last year and a 28% rise since the last update in March 2011. The peak level of inventory for 2010 was reached in September of last year at just over 3900 homes.

Old Cheney PA StationPositive: From a buyer’s perspective this continues to be an incredible opportunity to move into the market.  If you have good credit, you can still receive excellent rates with the broadest choice of inventory seen in years. From a seller’s side, what you may have “lost” in price on your sale can be more than made up on the buy side for your new property – particularly if you are looking to move up to a larger or more expensive property.

Negative: The key negative continues to be the risk that if the need to sell overcomes the slack buyer demand, prices could easily retreat further. One needs to note that the savings from a slight price decline can easily be lost to higher interest rates should rates begin to climb (a good possibility given present problems in the financial markets/Washington).

Bottom Line: Our local real estate markets continue to be impacted by events and circumstances well out of our control. Short term both the credit markets and property markets should continue to remain unsettled. Long term, this combination of high inventory and low interest rates remains an incredible opportunity that has not been seen for years and may not last long.

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

Condos Go Upscale In Delaware County PA

July 12, 2011

Average condominium prices continue to rise in Delaware County PA.

Louella Condominiums Wayne PA

An interesting trend is appearing in the Delaware County sales statistics, average condo prices have continued to rise even as activity has slowed.

Delaware County has always had a wide range of condominium options throughout the county with prices ranging from well below $100,000 to an upper end “traditionally” in the $600,000 range with some few exceptions above the $1,000,000 level. Like much of the county, the existing individual complexes have seen the same rise and fall in prices and activity seen throughout the housing market.

Terrazza Newtown Square PAWhile the county wide average sales numbers have seen the same pattern, the average sales prices for all county condos have continued to rise at a steady pace. This reflects a variety of new high end projects that have been developed.  Particularly with the addition of Terrazza in Newtown Square, Athertyn in Haverford, and Louella in Wayne, the new upscale developments are pushing the amenities and associated pricing to levels more often seen in the city. This is creating more options, more competition, better amenities, new standards, and better housing that will benefit the area for years.

Delaware County PA Condominium Sales Activity
Year      Average Price    Total Sales
2011          $230,000                29           June only
2011          $225,000                122         through June
2010          $222,000                310
2009          $211,000                365
2008          $192,000                377
2007          $190,000                508
2006          $180,000                475
2005          $178,000                485
2004          $160,000                499
2003          $139,000                483

So.. the next time you are in the market for a new home, before you make any firm decisions where you are going to live, please be sure to check out all your options. Even in this market, development continues and the new home options just might pleasantly surprise you.

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)

Springhouse and Echo Valley – Options for Newtown Square PA Homes

May 11, 2009

Springhouse Newtown Square PALocated along Goshen Rd, just east of Willistown on the edge of Newtown Township lie the homes of two secluded but convenient communities of Echo Valley and Springhouse.

The nice private Springhouse community is one of the newest developments in the Newtown Square area consisting of only 17 homesites.  Built by Chip Vaughan and Mike Mirarchi, these homes define luxury.  Designed by architect Ann Capron with floor plans ranging from 5000 to over 8000 square feet and lots from just under an acre and up, they allow for an array of beautiful amenities to satisfy many tastes within this award winning community.

Most of the homes were constructed between 2003 and 2005 with prices when new in the $1,750,000+ range with many variations depending on design, size, and amenities.  Today, two of the properties are on the market with an average list price of just over $2.45 million.  Both properties are larger designs with 5 bedrooms and 5 plus baths in about 8000 sq-ft.

Echo Valley Ranch Newtown Square PAAcross Goshen Rd lies the older community of Echo Valley.  During the late fifties and sixties, new development progressed throughout the area as growth extended through communities such as Lawrence Park in Marple township and traveled west through Newtown Square to St Albans and Echo Valley. Situated on the site of Echo Valley Farm founded in 1719, this development was started in 1957 and the homes are mostly situated on large private 1+ acre lots hidden just north of Goshen Rd.  The community contains a large array of styles and designs as homes were built through much of the late fifties, sixties, and into the seventies.

This is one of the more established areas and the prices reflect this.  The tax records show 166 homes in the development, but only a handful become available each year.  With the wide range of sizes and styles, since 2006 prices have ranged from $499,00 to over $1,000,000.  Echo Valley Home Newtown Square PAThe bulk of the sales have been in the high $500,000 to low $600,000 range.  In 2008, there were 7 sales with prices averaging $608,000.  Today, there is only one property available listed for $1,100,000 and there have been no settled sales in 2009.

If you are looking for privacy and convenience in a great area with a wide range of styles and pricing, these are both communities not to be missed.  There are rarely a wide variety on the market at any given time but with patience you can often find the amenities you may be looking for.

As always, if you have any questions or need any additional information, please feel free to call me anytime.

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