Marcus Hook, PA

It's just about time for a quick Marcus Hook PA Homes Market Update with a bit of history.

Located just over the state border from northern Delaware along the Delaware River in lower Delaware County PA, Marcus Hook is one of the original industrial Pennsylvania river towns. This area between New Castle Delaware and Philadelphia PA was one of the original growth areas that drove our nation from its beginnings. The Swedes arrived first, followed by the Dutch, and finally the British including William Penn who landed just a few miles north along the Delaware River in Chester PA.

Agriculture was the original business at its founding, but Marcus Hook has always been a key trading/marketing area. In the 1700's it was an early port while traveling toward Philadelphia and at various points played roles in the Revolution, the Battle of 1812, the Pirate trade, and the road and rail development along the coast but all relied on its key location along the Delaware. Although at one point it was considered a resort area, over the ensuing years, Marcus Hook has become a major industrial area growing from fishing and shipping based industries toward major manufacturing and oil refinery based businesses. It has always benefitted from its key location in the center of the major industrial development between Philadelphia and Wilmington.

Today, it is home to two major refineries located on either side of the historic downtown area with a pleasant park along the riverfront. It's population peaked in the 1920s with over 5000 residents but today it is a community of approximately 2500 residents. It continues its history of community support with its strong resident involvement in its various boards, commissions, and committees and the local Marcus Hook Preservation Society.

Recent real estate activity has followed the trends seen in much of Delaware County. With approximately 730 residential properties listed in the tax records for Marcus Hook PA, there is a nice mix of mostly row and twin homes in the borough with a few singles found throughout. It is a very stable community with relatively low turnover of properties. With its long history, there are properties from the 1700s through the new single family homes being built close to the riverfront park.

Real estate activity peaked in 2006 when there were 37 sales at an average price of $78,000. For the next two years, prices continued a bit higher while activity mellowed with 33 sales averaging $87,000 in 2007 and 31 sales averaging $90,000 in 2008. In 2009 there were only 16 completed sales at an average sales price of $80,000. Today there are 31 homes on the market with an average asking price of $97,000, 4 homes under contract averaging $50,000, and 11 homes have sold in 2010 with an average sales price of $78,000.

With its prime location, industrial base, and community involvement, Marcus Hook PA should continue to be a stable home for years in the future.

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

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

Happy Easter!

Enjoy the Holiday!

And just a quick reminder that we now have less than 4 weeks to be able to place a contract on a home a still be able to take advantage of the $8000 Tax Credit (and it must settle by the end of June)!

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

Happy Labor Day!

Relax and Enjoy the Holiday with friends and family!

Go Phillies! Go Eagles! Go Flyers!

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

Located in southern Delaware County along the New Castle County DE border curve, Bethel Township is a convenient, popular, mostly residential community. It is bordered by Concord Township to the west and Aston and Upper Chichester to the north and east.

Bethel Township was incorporated from Concord Township in 1683. Founded as a largely agricultural community, it has been a traveling crossroads for years as the region has developed. Foulk Road (Rt 261) travels generally north-south through Bethel Township while Naamans Creek Rd runs east-west along the southern edge and the Conchester Highway (Rt 322) crosses the township to the north. With this easy access, Bethel has also become home to businesses such as the Booth's Corner Farmers Market originally founded in the 1930s.

More recently, the area has seen tremendous residential growth with multiple new home developments and several age restricted communities. As in any area impacted by new construction and growth, the real estate statistics are a bit more difficult to interpret here than in more stable areas. It is difficult at best to get a feel for the underlying sales pace as new communities are built. Pricing is also affected as the final recorded sales price on new homes can often be higher than the initial advertised asking prices reflecting additions and upgrades during construction. Both of these issues appear in the numbers for Bethel.

Going back to 2002, Bethel Township experienced 91 sales with an average final sales price of $259,000. This quickly rose over the next few years with 91 sales in 2003 at $322,000, 134 sales in 2004 at $399,000, 122 sales in 2005 at $424,000, and finally 109 sales in 2006 at an average final sales price of $476,000. From 2003 though 2006, the average final sales price ranged from 99.8-102.6% of the average asking price.

In 2007, the average sales price pulled back to $428,000 with 118 sales and then fell to $403,000 with 87 sales in 2008. So far this year, the average sales price has risen a bit to $434,000. Today, there are also an additional 54 homes on the market with an average asking price of $433,000 and 15 properties are under contract averaging $383,000.

Due to its great location, Bethel Township should continue to see additional growth, but with the market downturn, this should be accompanied by reduced new home construction in the short term. Due to the demand, pricing should remain fairly stable in the area, although the mix of sales could change quite a bit with reduced construction activity.

As always, please feel free to contact me anytime with questions or if you are considering moving in the area. (Also note: effective July 1, 2009, the US Postal Service has changed the Zip Code for the area from Marcus Hook 19061 to Garnet Valley 19060 so you may find businesses and properties listed under various addresses.)

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

Greetings from Marcus Hook Pennsylvania.

Incorporated on March 7, 1892, Marcus Hook is one of the original largely industrial Delaware River towns just south west of Philadelphia. Here we are visiting the Marcus Hook PA SEPTA R2 Regional Rail Station. This station is the southernmost and last train station on the SEPTA R2 Regional Rail line in Pennsylvania. The R2 line does continue for several more stations to Newark Delaware, but these stations have more limited service and no service on Sundays.

The station itself is located on the Northbound side of the tracks just to the west of the Market Street Bridge leading into downtown Marcus Hook. Just to the north of the tracks on the southbound side is Lower Chichester Township and Linwood PA. Marcus Hook is directly on the main Amtrak Northeast Corridor tracks but Amtrak does not stop here. The station is within easy walking distance of downtown Marcus Hook and has plenty of parking for commuters as well as space for drop off and pick up of passengers as seen the the attached video:

Most of the housing in town consists of row homes or twins with a few singles scattered about. This is one of the least expensive areas in Delaware County with prices rising from an average sale price of $78,000 in 2006, to $87,000 in 2007, and to $90,000 in 2008. There has only been one sale in 2009 for $87,000. Activity has declined slightly from 37 sales in 2006, to 33 in 2007, and 31 completed sales last year. Currently there are 10 properties for sale at an average list price of $104,000 with 3 properties under contract at $90,000 average price. There are also some new single family homes being built down by the park along the riverfront starting in the low $200s.

If you need any additional information or have any questions, please do not hesitate to contact me anytime.

David Henke

(All statistics from the TrendMLS System believed correct but not guaranteed)