Middletown Township should continue to be a popular local housing choice with a wide variety of housing options, great amenities, and easy access to all the area has to offer.
Founded in 1686, Middletown Township is located just west of Media Borough in central western Delaware County PA. Penn State has a satellite campus off Route 352 toward the north of the township with the Tyler Arboretum and part of Ridley Creek State Park also to the north. The commercial/entertainment area is centered in Lima around the Granite Run Mall . The Elwyn Institute is located to the east and the original Franklin Mint Property which will anchor the redevelopment in the area is located to the west. Chester Creek forms most of the southern boundary of the township.
Middletown is conveniently located with Route 1 running basically east -west through the center of the township offering easy access throughout Delaware County and a quick connection to the Blue Route, I-476, to the east. Route 452 runs directly south from Route 1 at the Granite Run Mall heading towards I-95. Route 352 traverses the township from the southeast toward Chester to the northwest into West Chester and Chester County. Baltimore Pike takes you directly into downtown Media. The Elwyn SEPTA Regional Rail station is also located adjacent to Elwyn providing direct rail access to Media and downtown Philadelphia.
With a long history, Middletown covers a wide range of housing options from historic early homes, to condos, townhomes, and a wide variety of single family properties. Riddlewood is one of the larger single family developments just off Route 1 and Route 452. Over the last decade, there has been quite a bit of new infill construction. In addition, redevelopment of the Franklin Mint site should contain a wide mix of housing and commercial options.
The Middletown Township home sales activity and home prices have held up much better locally than seen in many other areas of the county. Home sales activity peaked in the 2003-2006 time frame with 154-174 home sales per year. This fell to a low of 104 -113 home sales per year between 2008 and 2011 but recovered to 124 sales in 2012, 157 in 2013, and 68 in 2014 year to date.
The average home price peaked in 2007 with an average sales price of $387,000. Prices ranged from $1,500,000 to $80,000. In 2011, the average sales price reached a low of $327,000. Since 2011, the average price has tracked the increase in sales with the average increasing to $329,000 in 2012, $341,000 in 2013, and $363,000 so far in 2014. In addition, there are currently 63 homes on the market with an average list price of $423,000 and 25 properties are currently under contract but not settled with an average asking price of $336,000.
With its central location, shopping around Granite Run Mall, educational opportunities, and direct access to the amenities of Media, Middletown Township should continue to be a popular housing choice with expected strong stable pricing. The local economy should continue to benefit from both the local redevelopment as well as the recovering economy throughout the region.
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)