Edgemont, PA

Here is information about residential houses that sold in Edgmont Township, Delaware County, Pennsylvania for January 2012.

The maximum sold price for a house was $407,500.

The minimum sold price for a house was $180,000.

The average sold price was $293,750.

The average amount of days on the market was 191.

2 residential houses sold in Edgmont Township, Delaware County in January 2012.


(Information from Trend MLS)

Edgmont Township, Delaware County, Pennsylvania Real Estate - Houses Sold In January 2012

The Arbors at Edgmont represent one of the newer home communities along West Chester Pike in Edgemont Delaware County PA.

The Arbors at Edgmont is a distinctive newer home community in a prime location in Edgmont Township Delaware County PA. The community is located just northeast of the intersection of the West Chester Pike with Providence Rd. This semi-rural site offers easy commuting into West Chester, Wilmington, much of the Main Line, eastern Delaware County, and Philadelphia beyond. The West Chester Pike/ Route 3 corridor is the primary east-west corridor extending from downtown Philadelphia to West Chester while Providence Rd offers easy access north to Malvern and the Main Line or south to south towards Media.

Built by Ryan Homes, The Arbors at Edgmont contain just 30 new single family home sites that were completed in 2005/2006. Ryan Homes was founded in 1948 in Pittsburgh and has become one of the 10 largest home builders in the country. Today, they have built over 300,000 homes throughout the mid-Atlantic region and are part of the NVR family.

The Arbors at Edgmont originally offered four basic home designs with multiple finishing options. The completed homes per the tax records ranged from approximately 2500 square feet to over 3500 square feet depending on design and options chosen. The original final sales prices varied from just over $450,000 to more than $600,000. Today there are 3 four bedroom homes currently on the market with an average asking price of $539,000.

If you are looking for quality built homes in a mostly country but convenient location with reasonable pricing, be sure to take a look at the Arbors at Edgmont.

David Henke
Long & Foster Real Estate Inc - Newtown Square,PA/Bear, DE
Office: 610-353-1199/Direct: 610-359-3853/Cell: 610-618-0808
www.DelawareCountyPennsylvaniaHomes.com

(All statistics per the TrendMLS System and believed accurate but not guaranteed)

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.

David Henke
Long & Foster Real Estate Inc - Newtown Square,PA/Bear, DE
Office: 610-353-1199/Direct: 610-359-3853/Cell: 610-618-0808
www.DelawareCountyPennsylvaniaHomes.com

Delaware County PA currently has a 245 day inventory of homes on the market at the current sales rate.

For those that may visit my website, I keep a running tab of the current active, pending, and sold statistics for Delaware County on the front page. I just wanted to note that today, day number 245 in 2009, the number of homes sold in Delaware County finally surpassed the number of homes currently for sale - hence the 245 days of inventory.

We can't get the exact day this happens each year from our MLS, but here are some interesting points to contemplate:

--We hit the same point in early August last year and at the end of July in 2007.
--Inventories both years were over 4200 homes versus the 3168 homes today.
--In 2006, with slightly higher inventory, we reached this point in early July.
--In 2005, 2004, and 2003, the sold homes passed those on the market in early to late June on lower inventories ranging from 2400-2900 homes for sale.
--Inventory dropped 26% in the last year as the market stabilized.
--Year-to-Date Sales dropped 15% from 2008 and 39% from the peak in 2005.

The last time we had this level of home sale activity was in 1995 when there were only 3032 home sales to this same date. This sales rate had grown to a peak of 5250 homes sales on this date in 2005 (+73% in the decade) and has subsequently fell 39% by this year.

Overall, the market in Delaware County PA has remained fairly stable. Prices have come down moderately, but we neither saw the peak nor trough experienced in other markets in the country. Sales activity has fallen driven by uncertainties across the economy. Short term we could see additional home sales strength due to both the expiration of the first time home buyer's incentives and the historically low interest rates. Long term, we can expect a stronger market as the sales pace and demand return to a more "normal" rate as the economy and confidence recover.

Time will tell. As always, let me know if you have any questions.

(All statistics per the TrendMLS System and believed accurate but not guaranteed)