Thornbury Township in Chester County PA continues to have solid home sales with rising prices.
Founded in 1687, Thornbury Township in Chester County has been a mainly rural area until recently with new residential development throughout the township. Unlike many local townships in Chester and Delaware Counties in Pennsylvania, Thornbury Township has not followed the general up and down home sale pricing trends seen throughout the area. Average prices have varied on a yearly basis but overall have managed to remain more stable than many local areas. This may be changing as prices look to move higher in 2017.
Between 2004 and 2016 the highest average sales price was $562,000 and the lowest average sales price was $442,000. These happened in adjacent years. In 2009, there were only 24 home sales at an average sales price of $544,000. In 2010, sales recovered nicely to 37 sales but prices dropped to an average low of $442,000. Seeing the activity, prices rose to an overall average high of $562,000 in 2011 but sales dropped to a low of 22 sales for the year. Since then, home sale prices have remained in a range of $478,000 to $540,000, and yearly sales have been between 31 and 44 sales per year.
Based on the numbers year to date in 2017, we may finally be in an uptrend. Currently there are 17 properties on the market with an average asking price of $616,000. Eight properties are under contract with an average list price of $601,000. There have also been 17 sales with an average sales price of $602,000 (96.79% of list price) with an average of 41 days on the market. If activity continues to be strong, average prices could reach a new high this year.
With its prime location on Route 926 and Route 202 providing easy access to West Chester, Wilmington, and all of Chester and Delaware Counties, Thornbury Townhip is well positioned to remain a popular housing choice for years to come. This should allow home sales activity and pricing to remain stable and strengthen going forward.
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)