As a buyer or seller, if you are trying to take advantage of the $8000 First Time Home Buyer Tax credit, eastern Upper Darby Township is one of the key areas in the county that you may want to keep your eyes on. Sales activity has fallen but remains stronger than in most areas of the county. Prices have also fallen, making this an excellent time to buy for buyers and a great opportunity to take advantage of the market if a seller.
In general, Upper Darby Township can be split into two areas by zip code: 19026/ Drexel Hill to the west and 19082/ Upper Darby to the east. Zip Code 19082 generally extends from the Philadelphia City border to the east out to Lansdowne Avenue on the west. This area contains the commercial hub and SEPTA rail lines centered around the 69th Street Terminal. The terminal itself is a major regional rail hub and acts as the main transfer point for the SEPTA 101 and 102 Trolleys, the Rt 100 High Speed Line to Norristown, and the SEPTA Market-Frankford line coming from Downtown Philadelphia. This is both a popular commuting station as well as a destination station for the local commercial activities. This terminal also links to many area bus lines.
Zip 19082 / Upper Darby is also home to many well known residential communities such as Stonehurst, Bywood, Highland Park, and Beverly Hills. This provides a great mix of housing options from smaller row homes, to twins, and larger single family homes. There are also a few condominiums in the area. All can take advantage of the great rail connections and the easy road links along State Rd, Lansdowne Avenue, West Chester Pike, and Township Line Road. It is also a short trip directly down to the Philadelphia International Airport.
Real Estate pricing and actvity in zip code 19082 has mirrored what we have seen in the rest of the county but has seen a bit greater volatility. Sales activity peaked in 2005 when there were 683 residential sales in the zip code with an average overall sales price of $103,000 - the first year the average sales price had exceeded $100,000.
Pricing continued to rise to an average home sales price of $116,000 in 2006, $120,000 in 2007, and $118,000 in 2008. Sales were declining during the same time period to 605 homes sold in 2006, 463 in 2007, and 285 in 2008. So far in 2009, we have seen 121 sales at an average price of $94,000 - falling to a price range that we last saw in 2004. Today, there are an additional 182 homes on the market listed for an average price of $125,000 and 58 homes are under contract with an average list price of $108,000.
With it's great location, easy rail and road access, and immediate proximity to Philadelphia, the Main Line, and the Airport, this area of eastern Upper Darby should remain popular. With an average price now less than $100,000, many first time home buyers will be able to take advantage of the historically low interest rates, good prices, and the $8000 credit to make purchases in the area. As the year progresses, Upper Darby could be a prime beneficiary of any first time home buyer activity as buyers try to take advantage of the $8000 First Time Home Buyer Credit before the scheduled expiration on November 30.
(All statistics per TrendMLS System and believed accurate but not guaranteed)