In recent years, Edgmont PA has been one of the more relatively stable real estate areas of Delaware County.
Situated just to the west of Newtown Township in north-western Delaware County, Edgmont township is the last township in the county as you travel west along West Chester Pike. Although not strictly oriented north - south, generally Thornbury Township borders Edgemont to the west, Middletown Township to the south, Newtown & Upper Providence to the east, and Willistown Township Chester County to the north.
It is a largely semi-rural suburban area with only the one small village of Gradyville within its boundaries. It has quite a bit of commercial activity along Route 3 - West Chester Pike and some limited activity on Route 352 - Middletown Rd. These routes also offer quick access to West Chester to the west, Broomall and the Blue Route to the east, and Brookhaven/ Chester/ I-95 to the south. It is within easy commuting distance of much of Delaware and Chester Counties.
There is a wide range of home styles and real estate values throughout Edgmont Township. These range from the condos in Runnymeade Farms to the smaller eclectic mix of homes in Castle Rock on to the large new single family homes found in Brickhouse Farms and Summerhill. With this diversity, the area appeals to a broad cross-section of potential buyers. Today, there are listings ranging from condos beginning at $209,000 to large estate homes currently listed up to $2,599,900. It continues to be an active market with 59 homes currently on the market with an average asking rice of $839,000 and 6 properties currently under contract averaging $597,000.
Since 2001, the average sales prices in the area have ranged from a low of $460,000 in 2001 to a high (excepting 2007) of $584,000. In 2007, prices averaged $720,000 as several higher end developments settled quite a few properties and there were 61 properties sold during the year. Since then, 45 properties sold in 2008 with an average price of $530,000, 34 properties settled in 2009 averaging $550,000, and in 2010 year to date 2 properties have sold with an average price of $410,000. There continues to be quite a bit of new construction activity in the area which will continue to affect average pricing as these settle.
With its wide range of pricing, convenient location, and relatively stable values, Edgmont should continue to be a popular housing choice in the area. The township should continue to grow as new construction progresses and there is additional development in the adjacent areas. It is an ideal location for those commuting locally or needing reasonable access to Philadelphia, West Chester, and Wilmington DE.
As always should you be thinking of a move in the area, please feel free to contact me anytime.
Long & Foster Real Estate Inc - Newtown Square,PA/Bear, DE
Office: 610-353-1199/Direct: 610-359-3853/Cell: 610-618-0808