Newtown Square, PA Real Estate News

By James Harner, James Harner Group - Philadelphia PA Real Estate
(Considering Selling Your Home? Call 610-310-7646 first)
Newtown Square Homes for Sale | Newtown Square are a Great Value in Delaware County Real Estate Are you looking for information on Newtown Square Homes? Fill out my form to receive our Free Newtown Square Homes Report Fill out my Wufoo form! Newtown Square Homes for Sale | The Real Facts You Need To Know Newtown Square is really a stunning town and it is swiftly turning out to be among the more popular areas in Chester County as more and more young families as well as individuals acquire Newtown Square Homes. With a population of approximately 11,700 it offers a superior convenience that is certainly associated with a greater population without being too busy, and is proud to host fantastic educational institutions, expanding industry and superb arts and culture! There is a growing mark...
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By David Henke, Realtor, Homes Just West of Philadelphia PA
(Long & Foster Real Estate, Inc)
  After a steep real estate decline in 2009, prices and activity for Newtown Square homes appear to be on the mend. In Newtown Square a decade ago, the average sales price for a home was $375,000 with a top price of $2,028,000 encompassing 176 sales for the year. 2001: 176 Sales: Avg price = $370,000, Top price = $2,028,000( including 14 sales greater than $1,000,000) By 2005, the average price had risen to $563,000 with a top price of $2,900,000 including 191 sales.  From 2005 through 2008 the average yearly prices were fairly steady ranging from $536,000 to $579,000 per year with top prices between $2,800,000 and $3,200,000 and yearly sales between 138 and 159 sales per year.  Then the statistics speak for themselves: 2007: 159 Sales: Avg price = $556,000, Top price = $3,200,000(inclu...
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By David Henke, Realtor, Homes Just West of Philadelphia PA
(Long & Foster Real Estate, Inc)
So now that the tax incentives have expired and the bulk of the settlements did make their original June settlement date goals, where are we today? Overall it looks like the tax incentives shifted the timing of many purchases but did not create a large boost in traffic. Looking at the statistics for 2010 year-to-date and comparing it to the same time frame last year, the numbers show several interesting trends.  (The numbers are based on July 3 statistics to allow for delayed sales reporting.)  In 2010, there were 620 pending home sales vs 852 pending in 2009 for a 27% drop.  At the same time, properties that had closed rose from 2135 in 2009 to 2600 in 2010 for a 21% jump in closed properties.  Combining both the pending and settled properties through July 3 for both years, we saw a 7....
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By David Henke, Realtor, Homes Just West of Philadelphia PA
(Long & Foster Real Estate, Inc)
Still wondering if now is the time to buy?  Confused on the available tax credits?  Questioning future interest rates? Today: - The $8000 Tax Credit For First-Time Homebuyers has been extended. - A New $6500 Tax Credit is available for move-up and repeat buyers. - Housing affordability is at an all time high. - Prices have moderated. - Mortgage rates are at historic lows. The President of Long & Foster, Jeff Detwiler, and Barry Redler CMO have put together a short video explaining some key points: If you are considering a move, now remains a great time to take advantage of this market and the available tax credits.  The combination of affordabilty, low interest rates, an expected increase in home inventory, and the available tax credits make this a unique opportunity to purchase on favo...
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By David Henke, Realtor, Homes Just West of Philadelphia PA
(Long & Foster Real Estate, Inc)
MERRY CHRISTMAS! Take this holiday to spend some time with your friends and family. Enjoy all the season has to offer. And Have a Very Prosperous and Happy New Year!
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By David Henke, Realtor, Homes Just West of Philadelphia PA
(Long & Foster Real Estate, Inc)
After five years of review and planning, Newtown Township has approved the revised plans for the development of the Ellis Preserve at Newtown Square. After years of work, meetings, and evolving plans, the Ellis Preserve Town Center is now closer than ever to fruition.  The township will still submit some additional conditions to BPG that must be addressed, and another builder is contesting the approval,  but the project looks like it should be proceeding. The Ellis Preserve at Newtown Square will include a mixture of office, retail and residential uses.  The Ellis Preserve Town Center should be a great addition to the township and provide a more traditional town center to the area.  In addition to the commercial center concentrated by the intersection of Routes 252 and West Chester Pike...
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By David Henke, Realtor, Homes Just West of Philadelphia PA
(Long & Foster Real Estate, Inc)
Burlap and Bean in Newtown Square is everything you wanted in a superior local coffee house - and more. Opened in November 2006, Burlap and Bean has quickly established itself as a great hub of activity in the local Newtown Square PA area.  The owners have committed themselves to running an enlightened establishment and are committed to the community - with even its own running team.  It is a family owned business dedicated to their motto of "Roasting Coffee ~ Brewing Harmony".  They are open six days of the week (closed on Sunday) and roast all their coffee on site so that it can be the freshest possible. Burlap and Bean Coffeehouse promotes global awareness through Fair Trade and is 100% Fair Trade Organic.  "The Fair Trade Label guarantees that a product was grown and traded in a soc...
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By David Henke, Realtor, Homes Just West of Philadelphia PA
(Long & Foster Real Estate, Inc)
  Luxury Home sales in Delaware County PA have continued to maintain their leisurely pace as we head into the summer.  As we have seen in many areas of the county, the Luxury Home sales rate (those homes listed for $1,000,000+) peaked in 2007 with 132 closed home sales with an average price of $1,737,000.  Average pricing has remained relatively consistent from 2003 through 2008 with pricing ranging from a low of $1,642,000 in 2006 to a high of $1,758,000 in 2004.  The actual highest individual home price peaked in 2005 with one $5,000,000 sale.  Since then we have seen the top price decline to $4,250,000 in 2006, $3,799,000 in 2007, $3,300,000 in 2008, and $2,200,000 so far this year. Year to date, we have seen 19 completed sales at an average final price of $1,836,000, a slight price ...
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By David Henke, Realtor, Homes Just West of Philadelphia PA
(Long & Foster Real Estate, Inc)
Located along Goshen Rd, just east of Willistown on the edge of Newtown Township lie the homes of two secluded but convenient communities of Springhouse and Echo Valley. The exclusive Springhouse community is one of the newest developments in Newtown Square consisting of only 17 homesites.  Built by Chip Vaughan and Mike Mirarchi, these homes define luxury in the area. Designed by architect Ann Capron with floor plans ranging from 5000 to over 8000 square feet and lots from just under an acre and up, they allow for an array of beautiful amenities to satisfy many tastes within this award winning community. Most of the homes were constructed between 2003 and 2005 with prices when new in the $1,750,000+ range with many variations depending on design, size, and amenities.  Today, two of the...
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By David Henke, Realtor, Homes Just West of Philadelphia PA
(Long & Foster Real Estate, Inc)
In this real estate environment, many people are anxious and confused by what they are hearing from their friends, family, and the media. Prices are going down...  Rates are going up...  I can't get a loan approved...  The FHA Inspectors will never pass my home...  There's too much inventory to sell now...  There's too little inventory to buy since no one will sell at these prices... You get the idea.  There is always an excuse not to do something on any given day in any given market. The reality, thankfully, is quite different: Prices are down. For buyers you can buy more for any given price range.  For sellers this is a great time to trade up, the leverage is working in your favor. Rates are down. This is good for everyone.  It makes the market more fluid, allows more people to enter ...
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By David Henke, Realtor, Homes Just West of Philadelphia PA
(Long & Foster Real Estate, Inc)
Recently I have received several questions from people from outside the area trying to understand exactly where the places are that I have mentioned in my blog. In general, they are all in the vicinity of Delaware County Pennsylvania which is located just west of Philadelphia. I recognize that this is not the most detailed answer, so to help visualize this, I am pleased to present my first Google map: View Larger Map This covers many of my location specific posts. This map is easier to look at if you first click on View Larger Map. Then, if you click on each place marker, the highlighted description text that pops up is linked back to the original blog post. For the most part, the red markers are for transportation, blue = Local Finds, green = specific communities, aqua = the foreclosur...
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By David Henke, Realtor, Homes Just West of Philadelphia PA
(Long & Foster Real Estate, Inc)
So - How are we doing today in the Suburban Philadelphia - Delaware County PA real estate market after the first two months of 2009? - basically OK The raw numbers don't look good.  The number of sales in January/ February 2009 declined by 28% compared to the November/ December 2008 rate, dropped by 33% compared to Jan/ Feb 2008, and by 47% compared to the average month in 2008.   This obviously does not look good but looks better when you recognize that there was a 22% drop for the same period as we went from 2007 to 2008.  In addition, after experiencing an average county wide price decline in Nov/ Dec by 8.5 % compared to the average 2008 price, the price has remained stable at $240,000 through the first two months of 2009.  There were also 1361 new listings in this period, down 26% ...
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By David Henke, Realtor, Homes Just West of Philadelphia PA
(Long & Foster Real Estate, Inc)
Earlier this week, I had the chance to stop by the Newtown Square Township offices and wanted to pass on these reminders from the township:Recycling continues to be a hot topic and recycling is mandatory in Newtown Township.  All paper, glass, plastics, and metals must be recycled.  The collection schedule remains the same.  Pickup for those areas east of 252 and north of West Chester Pike will be on the second and fourth Thursdays of the month.  The balance of the township will be on the first and third Thursdays of the month.  All items should be placed out the evening before or by 7:00 am that morning - any questions call Allied Waste on 610-205-5400.  In Delaware County, there are four hazardous waste collections scheduled: Marple Transfer Station - March 28, the Emergency Services ...
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By David Henke, Realtor, Homes Just West of Philadelphia PA
(Long & Foster Real Estate, Inc)
The numbers don't add up. After reviewing the November statistics in Delaware County Pennsylvania, just west of Philadelphia, there is really not enough local sales activity for the numbers to indicate any clear trends.  Depending on the area/township viewed, you could demonstrate the market moving in almost any direction desired.  Normally, you can look at detailed statistics at the township level and generalize for the county and vice versa - not accurate at this point.  So now it is probably better to look at the bigger picture. The important dynamic here is "How is the overall market doing?", "What impact has the overall economy had on the local activity?".   This is where we have seen some dramatic changes.  In Delaware County, PA for November, properties settled with a total value...
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By David Henke, Realtor, Homes Just West of Philadelphia PA
(Long & Foster Real Estate, Inc)
Based on the feedback from my last post, I thought it may be helpful to shed a little more light on the home pricing and activity in different areas in Delaware County by showing a quick comparison.  I chose two townships basically on either end of West Chester Pike (aka RT 3, the main east-west artery between Philadelphia and West Chester in Chester County).  Newtown Square (Newtown) is located at the intersection of Rt3 and Rt 252 in the upper west side of the county next to Chester County and has predominately single family homes.  Upper Darby is adjacent to Philadelphia to the east and has a broad variety of single family homes, rows, and twins. Delaware County statistics as reported from the TrendMLS system (information believed accurate but not guaranteed - subject to errors & omi...
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