It's just about time for a quick Marcus Hook PA Homes Market Update with a bit of history.
Located just over the state border from northern Delaware along the Delaware River in lower Delaware County PA, Marcus Hook is one of the original industrial Pennsylvania river towns. This area between New Castle Delaware and Philadelphia PA was one of the original growth areas that drove our nation from its beginnings. The Swedes arrived first, followed by the Dutch, and finally the British including William Penn who landed just a few miles north along the Delaware River in Chester PA.
Agriculture was the original business at its founding, but Marcus Hook has always been a key trading/marketing area. In the 1700's it was an early port while traveling toward Philadelphia and at various points played roles in the Revolution, the Battle of 1812, the Pirate trade, and the road and rail development along the coast but all relied on its key location along the Delaware. Although at one point it was considered a resort area, over the ensuing years, Marcus Hook has become a major industrial area growing from fishing and shipping based industries toward major manufacturing and oil refinery based businesses. It has always benefitted from its key location in the center of the major industrial development between Philadelphia and Wilmington.
Today, it is home to two major refineries located on either side of the historic downtown area with a pleasant park along the riverfront. It's population peaked in the 1920s with over 5000 residents but today it is a community of approximately 2500 residents. It continues its history of community support with its strong resident involvement in its various boards, commissions, and committees and the local Marcus Hook Preservation Society.
Recent real estate activity has followed the trends seen in much of Delaware County. With approximately 730 residential properties listed in the tax records for Marcus Hook PA, there is a nice mix of mostly row and twin homes in the borough with a few singles found throughout. It is a very stable community with relatively low turnover of properties. With its long history, there are properties from the 1700s through the new single family homes being built close to the riverfront park.
Real estate activity peaked in 2006 when there were 37 sales at an average price of $78,000. For the next two years, prices continued a bit higher while activity mellowed with 33 sales averaging $87,000 in 2007 and 31 sales averaging $90,000 in 2008. In 2009 there were only 16 completed sales at an average sales price of $80,000. Today there are 31 homes on the market with an average asking price of $97,000, 4 homes under contract averaging $50,000, and 11 homes have sold in 2010 with an average sales price of $78,000.
With its prime location, industrial base, and community involvement, Marcus Hook PA should continue to be a stable home for years in the future.
Long & Foster Real Estate Inc - Newtown Square,PA/Bear, DE
Office: 610-359-3853/Cell: 610-618-0808 www.DelawareCountyPennsylvaniaHomes.com
(All statistics per the TrendMLS System and believed accurate but not guaranteed)