Suburban Philadelphia Real Estate News

In recent years, Edgmont PA has been one of the more relatively stable real estate areas of Delaware County.

Situated just to the west of Newtown Township in north-western Delaware County, Edgmont township is the last township in the county as you travel west along West Chester Pike.  Although not strictly oriented north - south, generally Thornbury Township borders Edgemont to the west, Middletown Township to the south, Newtown & Upper Providence to the east, and Willistown Township Chester County to the north.

It is a largely semi-rural suburban area with only the one small village of Gradyville within its boundaries.   It has quite a bit of commercial activity along Route 3 - West Chester Pike and some limited activity on Route 352 - Middletown Rd.  These routes also offer quick access to West Chester to the west, Broomall and the Blue Route to the east, and Brookhaven/ Chester/ I-95 to the south.  It is within easy commuting distance of much of Delaware and Chester Counties.

There is a wide range of home styles and real estate values throughout Edgmont Township.  These range from the condos in Runnymeade Farms to the smaller eclectic mix of homes in Castle Rock on to the large new single family homes found in Brickhouse Farms and Summerhill.  With this diversity, the area appeals to a broad cross-section of potential buyers.  Today, there are listings ranging from condos beginning at $209,000 to large estate homes currently listed up to $2,599,900.  It continues to be an active market with 59 homes currently on the market with an average asking rice of $839,000 and 6 properties currently under contract averaging $597,000.

Since 2001, the average sales prices in the area have ranged from a low of $460,000 in 2001 to a high (excepting 2007) of $584,000.  In 2007, prices averaged $720,000 as several higher end developments settled quite a few properties and there were 61 properties sold during the year.  Since then, 45 properties sold in 2008 with an average price of $530,000, 34 properties settled in 2009 averaging $550,000, and in 2010 year to date 2 properties have sold with an average price of $410,000.  There continues to be quite a bit of new construction activity in the area which will continue to affect average pricing as these settle.

With its wide range of pricing, convenient location, and relatively stable values, Edgmont should continue to be a popular housing choice in the area.  The township should continue to grow as new construction progresses and there is additional development in the adjacent areas.  It is an ideal location for those commuting locally or needing reasonable access to Philadelphia, West Chester, and Wilmington DE.

As always should you be thinking of a move in the area, please feel free to contact me anytime.

David Henke
Long & Foster Real Estate Inc - Newtown Square,PA/Bear, DE
Office: 610-353-1199/Direct: 610-359-3853/Cell: 610-618-0808
www.DelawareCountyPennsylvaniaHomes.com

The Luxury Home Market continues its slow pace as we head into the traditional 2010 sales season.

There have been many changes in the market since our last update in June but most of those have impacted the market at lower price points.  The primary sales activity continues to be first time buyers or lower move up buyers as people continue to take advantage of the 2009 and now 2010 Homebuyer Tax Credits.  At the higher price points, activity is still constrained by the availability of loans with prices remaining fairly flat or trending lower.

In the luxury market, sales have continued to drift.  In 2009 for the year, there were 67 completed home sales in the $1,000,000+ market down from 93 in 2008 and the peak of 132 in 2007.  The average sales price dropped again to $1,481,000 in 2009 from $1,585,000 in 2008.  The average days on the market rose from 93 days in 2008 to 117 days in 2009.  The most expensive home did rise a bit to $2,500,000.  New Homes continued to take a large share with 33 of the 67 completed sales.

Today there are an additional 129 homes currently on the market with an average asking price of $1,984,000.  This includes 57 new construction homes and properties ranging up to a list price of $13,500,000.  There are also 18 properties under contract at an average price of $1,647,000 including 9 new homes.

Bottom Line: So, as we last found in June, the luxury home market continues to be working against the economy and financing issues as it waits for confidence to return to the market.  As before, new homes enjoy a large share of the market as home buyers still appreciate the flexibility that new construction affords.

As always, should you have any questions or are considering a move in the area, please do not hesitate to contact me anytime.

David Henke
Long & Foster Real Estate Inc - Newtown Square,PA/Bear, DE
Office: 610-353-1199/Direct: 610-359-3853/Cell: 610-618-0808
www.DelawareCountyPennsylvaniaHomes.com

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

Welcome to Rutledge PA in Delaware County Pennsylvania.

Rutledge is one of the smallest boroughs in Delaware County containing less than 275 residential properties per the tax records and about 860 residents. Occupying about 1 square mile, it was founded in 1885 and incorporated as a Borough in 1885.  The earliest reference to its name was from the Rutledge Mutual Land Improvement Association but the origin of the name is still in question.  It was either named after an early sweetheart of Abraham Lincoln or the novel Rutledge by Miriam Coles Harris.

Today it is a popular Borough conveniently located in southern Delaware County just east of Swarthmore.  It has its own fire department, parks, and Borough Hall and Rutledge is part of the Wallingford-Swarthmore School District.  It is within easy driving distance to I-95 by driving south on Route 420 or to I-476 by traveling west on MacDade Blvd.  The SEPTA R3 Regional Rail Line serves the Borough through the Morton-Rutledge Station just to the north.

On a relative basis, Rutledge has had a fairly stable real estate market as compared to many of the surrounding communities.  The average prices for homes in the area first surpassed, $200,000 in 2004 with an average sales price of $226,000.  Since then the average sales price has varied between a low of $244,000 in 2009 to a high of $281,000 in 2007.  There has consistently been 5 or 6 sales per year from 2004 through 2009.  In 2010, there has been one home sold for $150,000 and there are currently 3 additional properties on the market with an average asking price of $296,000 (there are no properties currently under contract).

With its stable sales and stable pricing, Rutledge seems to have successfully avoided much of the volatility seen in other areas of Delaware County.  With its great location, strong school district, and solid housing stock, it should continue to be a popular and stable area for the future.

As always, should you ever have any questions or are considering buying or selling in the area, please do not hesitate to contact me anytime.

David Henke
Long & Foster Real Estate Inc - Newtown Square,PA/Bear, DE
Office: 610-353-1199/Direct: 610-359-3853/Cell: 610-618-0808
www.DelawareCountyPennsylvaniaHomes.com

Welcome to East Lansdowne PA in eastern Delaware County.

East Lansdowne is one of the smaller Boroughs in Delaware County PA which is surrounded by Upper Darby located just west of the City of Philadelphia boundary and east of Lansdowne Borough.  It is a largely residential community with a small commercial area along Baltimore Pike and Long Lane.

The borough originally was part of Upper Darby, when development began on a former farm purchased from the Smith Family in 1902.  The development was named East Lansdowne and with its great site and easy development terms, building quickly began with 30 homes built in the first year.  The town was incorporated and separated from Upper Darby on June 3, 1911.  Building continued rapidly with the land mostly built out by the 1940s.  Today, the Borough is filled with tree lined streets with "an abundance of Victorian Vernacular, Craftsman Bungalow, and American Foursquare styles of homes, present in both twins and singles, illustrating the fashion and themes of early 20th century residential architecture."

As seen throughout the county in real estate, home sales prices and activity have eased due to the economy, but activity rose in 2009.  Average prices first broached the $100,000 level in 2004 after activity peaked with 53 home sales in 2003.  The average price continued to rise until 2007 with 35 sales at an average sales price of $154,000.  This activity then eased to 19 sales at an average price of $122,000 in 2008.

In 2009, activity rose to 27 sales, but average prices continued to drift to $111,000 as  prices continued to be affected by foreclosures in the area.  Today, there are 2 properties now under contract for an average price of $84,000 and an additional 23 currently on the market for $144,000.

With the wide variety of available properties, great location, and strong sense of community, East Lansdowne PA should continue to be a popular choice in eastern Delaware County.  With a more stable economy and the continued tax incentives, prices and activity should remain solid as we continue into 2010.

As always if you have any questions, need any additional information, or are considering a move in the area, please do not hesitate to contact me anytime.

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Thinking of a move to East Lansdowne PA - Be sure to visit 59 Penn Blvd:

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David Henke
Long & Foster Real Estate Inc - Newtown Square,PA/Bear, DE
Office: 610-353-1199/Direct: 610-359-3853/Cell: 610-618-0808
www.DelawareCountyPennsylvaniaHomes.com

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

As we begin a new year, the Haverford Hill Condominiums in Havertown PA have continued to be a popular home choice in the area.

Located just east of the Blue Route/ I-476 and south of West Chester Pike off Glendale Rd, the Haverford Hill condos have always been one of the most popular and convenient complexes in the area.  Built in 1967 with over 250 one, two, and three bedroom units, there is a home for almost every situation.  This location is ideal for anyone working in Delaware County offering immediate access to the freeway as well as quick access east or west along West Chester Pike.  There is also access to the SEPTA bus, trolley, and rail lines heading into Philadelphia.

Real estate activity and pricing has remained strong through this year after the slowdown seen throughout the area in late 2008/ early 2009.  Today, there are currently 6 two bedroom units available with an average list price of $158,000, 1 three bedroom unit listed for $209,999, and 1 one bedroom unit for $122,500.  There are no homes currently under contract.

For 2009, there have been 18 completed sales: 1 three bedroom, 7 two bedroom homes, and 10 one bedroom units.  This compares to 10 sales in 2008, 26 in 2007, 17 in 2006, and a high again of 26 in 2005.  Since 2005 there, has been a bit more variability in type of units sold.  From 2006 through 2009, there was 1 three bedroom unit sold each year, between 7 and 13 units per year for the two bedrooms, and between 1 and 12 one bedroom units per year.

We have also seen the same variability in pricing.  Three bedroom units hit a high of $196,000 in 2007 and drifted down to $179,000 this year.  The two bedroom homes hit a peak last year at $162,000 which included several completely redone units, and fell back to $149,000 in 2009.  Finally, the one bedroom homes experienced a surge of activity rising from one sale in 2008 for $95,000 to ten sales in 2009 with an average sales price of $108,000.

All in all, it has been a solid year for sales and activity in Haverford Hill with overall solid pricing and sales activity.  With its wide array of living choices, great location, and reasonable pricing, it should continue to be a popular choice.

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

Welcome to Swanwyck, Swanwyck Gardens, and Swanwyck Estates conveniently located between Wilmington and New Castle in New Castle County DE.

These three communities are all nestled together south of I-295 and west of Route 9/ New Castle Ave/ Wilmington Rd.  I-295 is immediately accessible with direct access either north or south from Route 9 and there is a slip exit directly off I-295 north into the Swanwyck Gardens section  This location also provides direct routes from Route 9 into Wilmington and New Castle.  Just a short drive west, Route 13/ the Dupont Highway affords additional routes south to the New Castle County Airport and beyond.

Swanwyck was named after the original home in the area that was built in approximately 1819 and has been listed on the National Register of Historic places since 1977.   Very limited development and building began in the late 1930's & early 40's with some 2 story colonials and ranches being built along Landers Lane, Prince Ave, and Queen Ave.  This development was suspended during the war years but resumed in full force after the war with the vast majority of homes then built as ranch style properties during the 1950's.  This later development encompassed most of the area between Landers Lane and I-295 and to the west of the Eisenberg Elementary School and Route 9.  Today, per the public tax records, the three communities encompass over 460 properties.

Like many areas in the county, Swanwyck has seen quite a bit of price variation over the last few years.  Since 2003, the average sales price rose from $129,000 to $139,000 in 2004, $163,000 in 2005, $183,000 in 2006, and $186,000 in 2007.  During this period, activity remained remarkably stable with 24 sales per year in 2003-2006 and dropping to 13 sales in 2007.  In 2008, there were only 14 additional sales with the price pulling back to $173,000.

This year sales have recovered slightly but prices took a hit with an average sales price year to date of $144,000.  The good news is that on a monthly basis the pricing has been rising for much of the year as the overall economy has appeared to be on more solid footing.  Today there are 4 properties currently on the market with an average asking price of $173,000 and one home under contract with a list price of $189,000.

With its great location and solid housing, the three communities of Swanwyck, Swanwyck Gardens, and Swanwyck Estates should continue to be a solid choice in the area.  Prices should remain fairly stable from here supported by the current tax incentives and provided that the overall economy continues to regain some momentum.

As always, if you have any questions or are considering a move in the area, please feel free to contact me anytime.

Welcome to Garrett Hill PA in Radnor Township Delaware County.

Nestled in the northeastern corner of Delaware County in the center of the Main Line in Radnor Township, Garrett Hill is ideally located between Villanova and Bryn Mawr.  Garrett Hill is centered on the area south of Lancaster Avenue, west of Garrett Avenue, East of Lowrys Lane, and north of Conestoga, but is often used to reference the larger area including the surrounding developments.

This location puts Garrett Hill in a prime spot along the Main Line with easy access to the Blue Route/ I-476 running just to the west of Villanova.  It is also well served by SEPTA.  Bus lines run throughout the area and the SEPTA Route 100 High Speed Lines runs right through Garrett Hill with a stop between Lowrys Lane and Garrett Avenue.  It is also within easy striking distance of the R5 Rosemont stop just north of Lancaster Ave.

The homes and businesses in Garrett Hill were originally developed to support the workers, plants, and larger estates in the surrounding areas.  Today, the area has become a close-knit community, and the homeowners and businesses continue to support much of the area including Villanova.

Due to its original development, the real estate is a nice mixture of single family homes, twins, and newer row homes.  The area is surrounded by some of the most expensive real estate in the county, but within Garrett Hill, the homes are very reasonably priced.  Since 2005, the average sales prices have ranged in price from $290,000 to $315,000.  Today, there are 11 homes currently on the market with an additional 6 under contract.  This year to date, there have been 34 sales in the overall area with an average sales price of $304,000.

With its great location, easy access, reasonable pricing, Garrett Hill PA should remain a stable community for years to come and a great choice in the area.

As always, should you have any questions or need any additional information, do not hesitate to contact me anytime.

Welcome to Toby Farms PA located in the northeast section of Chester Township with a Brookhaven PA address.

So how is the first time home buyer market faring? -- in one southern Delaware County community, very well - thank you.

Toby Farms PA is located just west of Upland and south of Brookhaven in the northeast corner of Chester Township just east of Chester Creek.  It is to the south of Bridgewater RD which becomes Brookhaven Rd to the north and 6th Street in Upland to the east.  Bridgewater Rd continues on a spur to Concord Rd running south to I-95 and north further into Aston.  This location provides easy access to I-95 both north and south as well as direct access north to the balance of Delaware County.

Toby Farms has a long history in the local area.  The development was built on land originally used as farm land by John P Crozer.  Toby Farms was named after one of Crozer's horses and was originally named Toby's Farm.  The first homes were built on the site in 1960 and construction continued through the 1960s until the latest construction in 1973.   The community also has its own Toby Farms Elementary School for grades K-5 which was originally built in 1963 and expanded in 1966.

Pricing has in the neighborhood has remained fairly stable.  Between 2002 and 2006, average home prices ran from the high $40,000s to reach $81,000 in 2006.  Since then the sales price has remained relatively stable with 45 sales in 2007 at $86,000, 37 in 2008 at $79,000, and 14 sales year to date at $85,000.  In addition, there are 3 pending sales with an average list price of $70,000 and 11 currently on the market with an average $95,000 asking price.  Generally, sales of fixers or bank owned properties have been in the $50's and $60s while standard resale have started in the $70,000s and have ranged over $100,000 depending on the size, condition, and amenities.

With the continued support of the $8000 tax credit and a stable or slowly recovering economy, it appears that Toby Farms has a solid chance of remaining fairly stable.  With its convenient location and housing stock, it should remain a strong community as long as the surrounding area also stabilizes and grows.

As always, don't hesitate to contact me with any questions or if you need any additonal information.

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Welcome to Collingdale Borough PA for a brief real estate & homes market update (with some history included).

Collingdale is a mid-size borough located in the southeast corner of Delaware County.  Historically, as in much of the county, this area was primarily agricultural until developers bought up tracts of land to take advantage of development afforded by the growth of the local rail lines in the 1800s.  As land was acquired and development grew, Collingdale Borough was divided from Darby Borough and received its own charter on December 23, 1891.  After incorporation, Collingdale continued to expand its borders through various ordinances to grow to its present size in 1922. Today, almost half its area is occupied by four cemetaries with much of the remaining property being primarily residential.

MacDade Blvd is the primary east-west street in the borough while Clifton Ave would be the most heavily traveled north-south artery.  The Borough is surrounded by Darby Borough to the east, Sharon Hill to the south, Darby Township to the west and Aldan toward the north.  The SEPTA 102 Trolley crosses through the borough on its western edge and provides easy access to the 69th Street Terminal and Philadelphia beyond.  Forming its northeastern boundary Springfield Road affords quick access south toward the Philadelphia Airport and I-95 and north toward the rest of Delaware County.

Collingdale Borough contains a nice mixture of row homes, twins, and single family properties.  As we have seen through much of the county, Collingdale has not escaped the pullback in prices and activity experienced in other areas.  Home sales activity peaked in 2006 with 187 transactions while pricing peaked in 2007 with an average sales price above $115,000 (having risen from below $80,000 in 2003).  Since then we have seen a steady decrease in sales volume with only 75 home sales year to date in 2009.  Prices have also seen a steady decline with prices only averaging $91,000 in 2009.  There are also an additional 16 homes pending with an average list price of $105,000 and 71 homes currently on the market with an average list price of $112,000 as the market has shown some strength recently.

With its wide range of housing options, convenient location, and multiple transportation options, Collingdale should quickly return to a more stable market and remain a popular lower Delaware County housing option for years to come.

As always, let me know if you have any questions or may be looking to buy or sell in the area.

Be sure to stop by our Sunday December 6 Open House at 907 Morgan Avenue in the Aronimink section of Drexel Hill Upper Darby PA this Sunday from 12:00- 2:00 to get a better feel for the area!  Classic Spanish 4BR/1.5BA Spanish Colonial.  Only 4 Blocks to the Trolley!

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In the western portion of Upper Darby Township, the Aronimink section is one of the earliest local developments in Drexel Hill.

The Aronimink section originally was named after the Aronimink golf club.  The Aronimink Golf Club (for complete club history, be sure to check out their site's history page) was originally founded in 1896 in southwest Philadelphia and was named either from a alternative spelling of the Indian Chief who had lived in the original clubhouse or after another Indian word.  Quickly outgrowing its original site, the club moved in 1907 to a second location in Philadelphia and as it continued to grow it moved to Upper Darby Township in 1913 to 100 acres on a portion of the original Garrett Farm.

As the club grew into its new location, developers began to provide housing adjacent to the course.  The Aronimink Golf Estates grew on the area toward the north and the entire area to the north of the original site is now considered Aronimink.  By 1926, the club had again outgrown its facilities and moved to 300 acres obtained in Newtown Square.  The original site has since been redeveloped as the Drexelbrook Rental Apartment Community and the entire area has been developed into a mostly residential area with a commercial area centered on Burmont as the Aronimink Station Business District.

Today, Aronimink is generally considered the area north of Drexelbrook, south of Township Line Road, and west of Concord Av, although portions of several other developments are also included in this area.  The community contains a variety of homes from small apartments to twins to all sizes of single family homes.  It continues to be a popular area for both those working in Delaware County and those commuting to Philadelphia.  It is conveniently served by the SEPTA 101 Trolley with three area stops at the Aronimink Station (Burmont Rd), the Anderson Ave Station, and Drexelbrook Station (Wildell Rd).

Real estate pricing and activity has held up reasonably well in the immediate area.  Today, there are 31 properties on the market with an average list price of $268,000 and an additional 4 properties currently under contract averaging $369,000.  In 2009 year to date, 21 properties have sold for an average final price of $245,000.  Although down, this has held up better than we have seen in many areas.  Activity and pricing peaked with 53 sales averaging $270,000 in 2005.  Since then, there have been 43 sales at an average price of $255,000 in 2006, in 2007 - 36 sales at $270,000, and in 2008 - 38 sales averaging $261,000.

Overall, the Aronimink section of Drexel Hill continues to be one of the prime Philadelphia suburban Delaware County communities.  It offers immediate access to Route 1 and I-495 / I-95 to the west, quick access to I-76 north on Township Line Rd, close proximity to much of the Main Line, and easy rail access to the 69th Street Terminal and downtown Philadelphia beyond.

As always, if you need any additional information, have any questions, or may be looking for a home in the area, do not hesitate to contact me anytime.