About Tredyffrin's Chesterbrook

Chesterbrook is a great place to live, location allows easy access to many local towns and sights and the home owner and condo associations maintain each sub-development well. Prices have been fairly stable even whilst the market in general has been challenged and there always seem to be some buyers looking for homes for sale in Chesterbrook. King of Prussia Mall is only minutes away, the new Wegman's Supermarket in King of Prussia will be opening shortly and the proximity of Valley Forge National Park allows plenty of opportunity for exercise and recreation, if you want a quiet restaurant or coffee shop many of the local towns have these in large supply.

The loss of Genuardis in the shopping center has not seemed to hurt and whilst it is always hard to know exactly how many homes are for sale in Chesterbrook because some agents use the sub-development names rather than Chesterbrook in their listings as of this morning there were 31 homes for sale listed in Chesterbrook for sale.

Of these 31 homes, 2 were single family homes on Salomon Lane priced at $649,000 and $669,000; 7 were 2 bedroom apartments priced from $169,900 to $239,900 located in various places around Chesterbrook and the highest amount of homes for sale were townhouses again spread throughout Chesterbrook, some 2 bed, 3 bed and 4 bed homes priced from $219,500 to $350,000.

Each sub-development can be set up differently, some as condominiums and some as Home owner Associations, so monthly costs can vary depending on the style of ownership.

Among all these houses are opportunities for buyers in today's market with low interest rates hovering at or below 4% these homes offer the possibility to call somewhere home that you have complete control over where design and decoration are concerned. If you need help finding a home in the Chesterbrook area feel free to contact us, we have helped many buyers find homes in the Chesterbrook development we will be happy to help you find your dream home in our town.

May 2011 the market treats Chesterbrook kindly. In May itself there were 63 listings, 12 homes came on the market priced from $195,000-$425,000. 6 went pending, and 7 settled so about half the number of homes coming on went pending although the number of total homes on the market grew

As the number of homes grows, this does put pressure on prices and we are seeing constant price reductions every week to encourage buyers to make an offer. Does this work?

Many buyers are just waiting it out and seeing if there is another price reduction rather than making an offer. If a home is well staged, clean, updated with newer kitchen and bathrooms, clean carpets or wood floors some buyers are jumping in. But many are still sitting on the sidelines waiting.

Our view is until confidence returns to the economy, the job market strengthens prices will continue to be under pressure. The loss of Genuardis supermarket yet to be replaced by another, although the opening of the Wegmans in malvern and the future Wegmans in King of Prussia may causer this to take a long time has left a hole in the shopping district. The only way to counter this is as mentioned above to truly prepare your home for sale correctly ahead of time and price it aggresively at the start of the listing rather than trying to reach for a higher price at the beginning and end up chasing the market.

Now often Chesterbrook is a first time buyer development, so many of those selling are not in good positions necessarily if they bought in the last few years with prices having dropped. However, Chesterbrook is doing better than elsewhere in Tredyffrin Township and Chester County, where absorption rate is even lower than that mentioned above and with inventory growing at a faster rate.

The lowest interest rates we have seen for a long time make Chesterbrook a viable option for many buyers and we feel it still has many strengths and benefits. So it should be a consideration for anyone looking for a town home in the Tredyffrin Easttown School district.

If you are interested in values and figures for other developments in the T/E area please contact us.

Chesterbrook, PA

Over the last three months, closing out the end of 2010 sales in Chesterbrook have been slower than normal. 9 Townhomes sold and 10 apartments sold over this period.

Interestingly, the price per sq foot for both came to $142, however the townhomes gained a little more in ratio to their asking prices at 96% of asking price whilst apartments reached 93%. This implies there is a little more interest in the townhomes than apartments.

Garages in the townhomes did not affect price significantly, which in the past those with a garage obtained higher prices. Currently there are 12 townhomes on the market, of these 1 is under offer and 7 more are pending. There are 11 apartments for sale, with 4 of these under agreement and 3 more pending as well. This implies that the market seems to have picked up in the last monthand we have noticed more interest among buyers to get off the fence and take action with the concern that interest rates might rise in the near future.

Days on market for the townhomes was an average of 88 although this was a little skewed by two homes that had been on the market a long time, so if priced right and prepared for sale the actual days on market could be lower. For apartments it was an average of 103 days to market a property.

If you need help finding a home in Chesterbrook, or in getting your home sold, feel free to contact us or go to www.homesinchesterbrook.com for more information.

Landmark in Chesterbrook, PA

This is another well placed development in Chesterbrook with several homes backing up to woods and Open Space with access to the trail system that contains over 7 miles of trails and gives access to Valley Forge National Park. These homes have a New England feel and have two, three and four bedrooms with garages, several have walk out lower levels. end units with wrap around decks give the feel of much larger homes. There are two roads in here, Newport Drive and Wellfleet Lane.

Size varies from 1900 to 2500 square feet and prices have ranged from the low $300,000's to low $400,000's over the last two years. There have been a few homes in this development in the last year but they are few and far between. A 2 bedroom home sold for $320,000 in November of last year and there is currently a 4 bed 2 full bath and 2 half bath home pending listed at $444,900 on Newport Dr.

Access to the trail system and being close to open space make this a very desirable neighborhood.

Main Street Village

Whilst I love the homes in Main Street Village in Chesterbrook, PA, they are Victorian in style, spacious and well liked by owners. Here location is everything. This development is situated very close to the PA turnpike and the noise can be loud depending exactly where you are situated, especially with the proposed widening of the turnpike.

The homes offer a large variety of floor plans with two, three and four bedroom homes available, size ranges from about 1800 to 3000 square feet and prices over the last 24 months have ranged from $300,000 to $389,900, whilst there are 22 homes for sale in Chesterbrook as I write, none are available in Main Street Village.

Several of these homes have garages, a big plus in Chesterbrook where many townhomes have shared parking, this may have been a plan of the builders to offer garages to offset the location issues.

For more information on Chesterbrook Homes