Haverford Township continues to see solid home pricing with increasing sales activity.
Located in the northeastern part of Delaware County just to the west of the Blue Route (I-476), Haverford Township has been a very popular community along the Main Line for years. Haverford Township was first formed in 1684 from a portion of the original Welsh Tract grant of 1681. For decades it was a prime agricultural area with many mills and industry taking advantage of the local creeks. With the arrival of train and trolley lines, it has developed as a convenient suburb of Philadelphia offering quick access to the Blue Route, Philadelphia, Wilmington, The Philadelphia International Airport, and the Main Line.
On a relative basis, Haverford Township home sales pricing has remained steadier than much of Delaware County - avoiding the big drop and recovery seen in many areas of the county. Sales prices have remained within about a 10% range. In 2011, the average home sales price was $347,000. This dropped to $320,000 in 2012, then $328,000 in 2013, $337,000 in 2014, $359,000 in 2015, and $345,000 in 2016. Note that there is only a $2,000 difference in the average home sales price in 2011 to 2016. So far in 2017, the average sale price has been $357,000.
This fairly steady pricing may not last much longer. The number of homes listed per year has risen between 10 and 20% but the completed sales continue to rise more quickly. In 2011, there were 480 completed home sales. In 2012 there were 582 reported sales in the MLS, then 626 in 2013, 631 in 2014, 705 in 2015, and 943 in 2016. So far in 2017, there have been 138 completed sales with 162 additional properties currently under contract. The yearly numbers from 2011 to 2016 represent more than a 60% rise in completed sales. This has resulted in increasing price pressure (including increasing multiple offers) across the board which could begin to show up as rising prices as more homes settle over the next few months.
With a wide variety of housing choices, convenient location, stable to rising home sale pricing and sales activity, Haverford Township should remain a prime choice for homeowners for years to come.
Long & Foster Real Estate Inc – Devon, PA/Wilmington, DE
Office: 610-225-7400/Direct: 610-618-0808
(All statistics per the TrendMLS System and believed accurate but not guaranteed)