Home sales in Ridley Park Borough PA continue to rise while prices remain steady.
In the 1870's, the Philadelphia, Wilmington, and Baltimore railroad was developing a new line into Chester. They hired an architect and planned a new community to develop along the new rail line. Ridley Park was carved out of the center of Ridley Township as that new development in the 1870's and was incorporated in 1887. Today, Ridley Park Borough is a great blend of stately old Victorians, newer single family homes, twins, condos, and apartments centered on a classic small downtown.
Since 2011, average home prices in the Borough have remained fairly constant. In 2011, the average price was $175,000. This rose to $192,000 in 2012, fell to $162,000 in 2013, then $172,000 in 2014, $182,000 in 2015, and $189,000 in 2016. The volume has been another story. There were 48 sales in 2011, rising to 49 in 2012, 60 in 2013, 79 in 2014, 90 in 2015, and 109 in 2016 - volume up 127% over the five years.
Today there are 20 homes on the market, 17 under contract, and there
have been 13 sales year to date. Settled prices have ranged from $70,000 to $230,000.
Ridley Park is mirroring what we have been seeing throughout southern Delaware County. Home sale activity has been increasing in most areas on a year to year basis but prices have not been following as aggressively. If activity continues to grow and the inventory of available homes for sale continues to shrink, we can expect to see stable or growing prices as we head for the future.
With its great location, classic downtown, wide range of housing options, and great transportation links, Ridley Park should remain a top choice in the area. This should lead to a continued stable to strong housing market.
Long & Foster Real Estate Inc – Devon, PA/Wilmington, DE
Office: 610-225-7400/Direct: 610-618-0808