Havertown, PA

2008 is not over yet, but I'd like to shed some light on our local market in Haverford Township real estate. If you've been listening to the National Association of Realtors (NAR) advertising, you've heard the famous line repeated, "Every market is Local, talk to a Realtor". While national news focuses on the national averages, you might be pleasantly surprised to find out how our local Havertown real estate market has faired.

First of all I'd like to make one distinction. While a stock market graph looks like a plane nose diving, the real estate market graph continues to follow regular trends. As all the bad news of the stock market makes us feel like everything is sinking, this is not a fully direct correlation...there are too many other factors involved. Factors including the location of the town, who's moving into the area, and what type of industries represent large sectors of the area's population. Additionally, what type of appreciation has Havertown seen in comparison to the rest of the U.S. over the real estate boom?

I'm happy to say that Havertown finds itself in a good central location surrounded by a diverse job industry. Additionally,Havertown and the Philadelphia region experienced a much more moderate level of appreciation through the boom in comparison to surrounding metropolitan areas like Washington D.C. and New York City.

The following data was derived from TrendMLS.com, November 24th, 2008 and covers all of HaverfordTownship for sales between $0 and $999,999. I consider sales over 1 million to be unusual in our market, therefore not representative of a the majority of sales. Of the 477 sold properties this year so far, 5 were over 1 million dollars

As you can see 2007 and 2008 residential real estate sales in Haverford Township have stayed relatively equal. At times we've seen jumps and drops, but overall we can say that the average sold home in Havertown remains to fall right around the $300,000 mark.

While I wish this was the full story we have to look at the number of sales as well.

Here the graph shows that we've felt a bigger impact from a lack of sales. In 2007 Haverford Township had sold 651 units and in 2008 we are up to 482 as of November 24th. Unless Havertown experiences and incredible up rise in sales through December, I would predict that the number of sales will have declined by approximately 20%.

What does this mean for Haverford Township Residents looking to sell?

The current market is tricky, but workable. Less units are selling and there is quite a bit of competition. While average home sale prices have remained in tack, it will most likely take you longer to sell. On a positive note, if you've kept you home in great condition, made some improvements and maintained your systems, the market recognizes this and is willing to pay for the improvements. Spending some time or money giving your home a fresh coat of paint can make a world of difference.

What does this mean for Havertown home buyers?

You have a lot of inventory to sift through, but you can find some great deals. If your willing to role up your sleeves and get your hands a little dirty, Havertown offers well built homes that often need some updating, as residents tend to live in their homes for many years. Surprisingly, there have been some recent competitive bidding sections on the homes that are in great shape and priced right. You want to make sure your financing is in line in case that house pops up.

Overall, I think we can safely say that the Havertown real estate market is still intact while feeling a bit of a slow down due to the new mortgage regulations and current economy.

I'll keep you posted.

Tyler Wagner

As a kid, I remember riding my bike around Havertown with my brother and friends everywhere. We road to every ones houses, we road down to Oakmont to stop by Mapes, we road to Paddock Park to find some cool obstacles to jump...we had a blast. If you didn't have a bike, you walked, because you could actually walk from one side of Havertown to the other safely.

What I didn't realize until much later was that Havertown is unique in that it is set up for easy pedestrian travel. Being an older town, a majority of Haverford Township's neighborhoods connect in a grid like system. Additionally, with few expections, Havertown was developed when cars weren't the main means of transportation and sidewalks where essential to get to public transportation or the local shops.

So what's the big deal? Why are a couple 4ft x 4ft pavers all lined up in a row so important? Beyond allowing the Haverford Township community to simply go for a safe walk through many different neighborhoods, I think it builds community and encourages people to get out of their homes. If you drive around town any day of the week, you'll find people out and about, enjoying the day, walking, running, Mom's and Dad's pushing strollers, kids playing in parks, and neighbors out talking to neighbors.

Its maybe not the first thing you think of when you drive into Havertown, but next time you do, see what you think.

So you might be asking yourself, what's so great about this area known as Havertown? As I've called Havertown my home for almost my entire life, I'd like to share the ins and outs that make it a wonderful place to live. This is just part 1 of many so I would love to hear from you and get your feed back to create a true experience for all who are interested.

If your heading west out of Philadelphia, your probably driving down Walnut, past 69th Street and the Tower Theater and heading up Route 3 (West Chester Pike). You'll know you hit Haverford Township once you see the latest mural at Darby Road and West Chester Pike depicting Llanerch Crossing. If you take a slight right onto Darby Road, you'll run right through the Heart of Havertown.

To begin with, the area has been developing since the beginning of the 20th century, so you're going to find many homes between the ages of 50 to 100 years old. New construction occasionally pops up, but you'll most likely find Dutch Colonials, Red Brick Colonials built by Warner West, red brick capes, twins and the occasion split level, ranger and bungalow. You'll find older neighborhoods with beautiful tree lined streets, sidewalks, and great neighborhood parks tucked all over the township. Small businesses, restaurants and bars run along the main roads of Havertown and some back streets. Along the eastern boundary of the Havertown runs the Rt. 100 line, a.k.a. the P & W (Pig & Whistle). Check out the Pig & Whistle Deli just off the Beechwood Stop if your looking for a good hoagie.

As a Realtor from a family of Realtors, one of my favorite parts of Havertown is LOCATION, LOCATION, LOCATION. 20 to 25 minutes puts you everywhere...whether its the Philadelphia International Airport, the King of Prussia Mall, South Jersey, Philadelphia, Wilmington, West Chester, etc, give yourself just under a half an hour by car or public transportation and your there. Havertown is just off the Main Line, just outside the city and right next to the Blue Route (476). So if you work in any of these areas, Havertown offers a great central location. This is also one of many reasons residential home values have remained strong because of the diversity in jobs of the Havertown homeowner.

Part 2 - Value is coming soon...

Cheers,

Tyler Wagner

A great question as these boundaries seem to change all the time in Haverford Township. Here's a link to the registration page of Haverford Township Schools. Even with this map, I'd recommend calling and confirming as to whether specific addresses attend a particular elementary school. Boundaries sometimes change and sometimes occur directly down the middle of a street.

Boundaries Map for Haverford Township