The Lawrence Park PA real estate market in Marple Township Broomall PA is holding up very well.
After taking a hit in both volume and pricing through 2008, Lawrence Park has stabilized with the average prices even increasing just slightly for year to date 2009. As seen in the previous Lawrence Park Update, prices in the community had fallen from an average of $317,000 with 38 sales in 2007 to an average of $302,000 with 20 sales in 2008. In 2009, there has been some improvement.
After having no sales in January and prices hitting a low of $274,000 with one sale in February, prices have risen slightly. 
In March there were 2 sales at $290,000, 1 sale in April for $295,000, 1 in May for $340,000, 3 in June at $303,000, and 4 in July for $312,000 for an average year-to-date sales price of $304,000. This average is expected to drift down a bit as there is one pending sale for $299,000 and there are currently 4 additional properties on the market with an average list price of $292,000. Generally prices weaken as we head toward the end of the year.
Unlike many areas in Delaware County PA, Lawrence Park has been able to maintain a relatively stable home pricing environment. As noted before with its prime location, great housing, and easy access, Lawrence Park should retain its reputation as a great place to live. This should continue to be reflected in a more stable real estate market with relatively consistent pricing as the economy continues to slowly recover.
As always, if you have any questions or need any additional information, please do not hesitate to contact me anytime.
(All statistics per the TrendMLS System and believed accurate but not guaranteed)
