Real Estate Values Increase Seen in Darby Borough

I have been recently focussing my attention on Darby Borough, in Delaware County, PA. This community in Southeastern Pennsylvania has shown a strong improvement in real estate values over the past 5 years, and out paced the County's increase by nearly a 2-1 margin.

2002:

• Average Residential Sales in Delaware County = $180,294
• Average Residential Sales in Darby Borough = $38,881
  
• Average Multi-family Sales in Delaware County = $104,794
• Average Multi-family Sales in Darby Borough = $39,740

2006

• Average Residential Sales in Delaware County = $251,743
• Average Residential Sales in Darby Borough = $68,549
  
• Average Multi-family Sales in Delaware County = $181,090
• Average Multi-family Sales in Darby Borough = $92,128

Using a compound interest calculator (I use this one) you can see that over the last 5 years (2002, 2003, 2004, 2005, 2006) the average annual appreciation of average sale prices breaks down as follows:

• Delaware County Residential: 6.9% appreciation per year
• Delaware County Multi-Family: 11.56% appreciation per year
• Darby Borough Residential: 12.00% appreciation per year
• Darby Borough Multi-Family: 18.31% appreciation per year

I may not have any fancy graphs or charts to prove it, but my recollection of high school math was that 12 was greater than 6.9 and that 18.31 was greater than 11.56. It seems to me that this boils down to good news for the hombuyer or investor: Real estate in Darby is a pretty solid investment.

The other side of this is the fact that because the average sale prices are considerably lower than the County overall, homes in Darby Borough are perfect for 1st time homebuyers, and even seniors on fixed income. The borough has excellent access to pubic transportation (SEPTA), including two trolley lines, several bus routes, and regional rail as well, not to mention the proximity to Philadelphia International Airport. (PHL)

If you are interested in buying a property in Darby, please contact me. I would love to help you find the right property for you.