Average condominium prices continue to rise in Delaware County PA.
An interesting trend is appearing in the Delaware County sales statistics, average condo prices have continued to rise even as activity has slowed.
Delaware County has always had a wide range of condominium options throughout the county with prices ranging from well below $100,000 to an upper end "traditionally" in the $600,000 range with some few exceptions above the $1,000,000 level.
Like much of the county, the existing individual complexes have seen the same rise and fall in prices and activity seen throughout the housing market.
While the county wide average sales numbers have seen the same pattern, the average sales prices for all county condos have continued to rise at a steady pace. This reflects a variety of new high end projects that have been developed. Particularly with the addition of Terrazza in Newtown Square, Athertyn in Haverford, and Louella in Wayne, the new upscale developments are pushing the amenities and associated pricing to levels more often seen in the city. This is creating more options, more competition, better amenities, new standards, and better housing that will benefit the area for years.
So.. the next time you are in the market for a new home, before you make any firm decisions where you are going to live, please be sure to check out all your options. Even in this market, development continues and the new home options just might pleasantly surprise you.
Delaware County PA Condominium Sales Activity
Year Average Price Total Sales
2011 $230,000 29 June only
2011 $225,000 122 through June
2010 $222,000 310
2009 $211,000 365
2008 $192,000 377
2007 $190,000 508
2006 $180,000 475
2005 $178,000 485
2004 $160,000 499
2003 $139,000 483
Long & Foster Real Estate, Inc
Devon PA/Wilmington DE
Direct:610-618-0808 - Office:610-225-7400
(All statistics per the TrendMLS System and believed accurate but not guaranteed)