Main Line and Philadelphia Real Estate Blog

Tredyffrin-Easttown School District Real Estate Statistics Oct 2016 - Oct 2017

Tredyffrin-Easttown School District Real Estate Market October 2017

This post is similar to those recently created for Lower Merion Township and Radnor Township. The charts below plot data from the spreadsheet above. The X axis is always a set of price ranges. The Y axis is either months of inventory, days on the market or the sold price to original list price ratio. The data is for Tredyffrin-Easttown School District for the referenced 1 year period.

A month of inventory is the number of houses sold in a month. The relevant formula is: 

Sales per Month = Sold in Period / 12

The formula for months of inventory is:

Months of Inventory = Currently Active / Sales per Month

The Months of Inventory chart clearly shows that the...

Radnor School District Real Estate Market October 2017

Radnor School District Real Estate Market October 2017

This post is similar to one just created for Lower Merion Township. The charts below plot data from the spreadsheet above. The X axis is always a set of price ranges. The Y axis is either months of inventory, days on the market or the sold price to original list price ratio. The data is for Radnor School District for the referenced 1 year period.

A month of inventory is the number of houses sold in a month. The relevant formula is: 

Sales per Month = Sold in Period / 12

The formula for months of inventory is:

Months of Inventory = Currently Active / Sales per Month

The Months of Inventory chart clearly shows that the supply rises significantly above $1400k. 

The Median Property Marketing Period graph shows a clear trend to a longer marketing period as the price range rises....

Lower Merion Real Estate Market Oct-2017

Lower Merion Real Estate Market October 2017

There is a lot said these days about a lack of inventory in the residential real estate market. But, as in many things real estate related, one has to look at the specific local market and price range. The charts below plot data from the spreadsheet above it. The first one plots months of inventory on the Y axis against price range on the X axis for Lower Merion School District for the referenced 1 year period. The second plots days on the market versus price range and the third plots the sold price to original list price ratio against price range. 

A month of inventory is the number of houses sold in a month. The value for a given price range is calculated by dividing the value in the 'Sold in Period' column--the period is12 months--by 12. This value is displayed in the 'Sales per Month' column. To get the current months of inventory for a given price range, the 'Currently Active' column is divided by the value in 'Sales per Month.'...

Bella Vista Home Sales Review 2016

Bella Villa Home Sales 2016

The number of homes sold in the Bella Vista neighborhood in Philadelphia decreased by approximately 2% in 2016 from 2015. There was a 13% drop in the number of properties offered for sale. See statistics, relevant graphs and further analysis below.

Bella Vista Philadelphia Real Estate Statistics 2016

Sales Breakdown by Property Type

Single/detached: 2
Twins/semi-detached: 1
Townhouses: 126
Unit/Flat: 24
Mobile Homes: 0

Sales breakdown by Property Category

Condominiums (usually unit/flat): 34 
Properties with Homeowner's Association (usually townhouses): 7
Other (usually singles and twins): 112
New Construction (could be of any type): 5

There are currently 36 properties for sale in the Bella Vista section of Philadelphia, less than 3 months supply, as 13 properties...

Art Museum Home Sales 2016

Art Museum  Property Sales 2016

The number of homes sold in the Art Museum neighborhood in Philadelphia decreased by approximately 16% in 2016 from 2015. There was a similarly sized drop in the number of properties offered for sale. See statistics, relevant graphs and further analysis below.

Art Museum Philadelphia Real Estate Statistics 2016

Sales Breakdown by Property Type

Single/detached: 2
Twins/semi-detached: 3
Townhouses: 158
Unit/Flat: 114
Mobile Homes: 0

Sales breakdown by Property Category

Condominiums (usually unit/flat): 124
Properties with Homeowner's Association (usually townhouses): 16
Other (usually singles and twins): 137
New Construction (could be of any type): 3

There are currently 56 properties for sale in Art Museum area of Philadelphia, less than 3 months supply, as 23 properties...

Northern Liberties Home Sales 2016

Northern Liberties Real Estate 2016

The number of homes sold in Northern Liberties increased by approximately 20% in 2016 from 2015. Since only 3.5% more homes were offered for sale, this indicates rising demand. See statistics and relevant graphs at the following link:

Northern Liberties Real Estate Statistics 2016

Sales Breakdown by Property Type

Single/detached: 2
Twins/semi-detached: 7
Townhouses: 211
Unit/Flat: 43
Mobile Homes: 0

Sales breakdown by Property Category

Condominiums (usually unit/flat): 62
Properties with Homeowner's Association (usually townhouses): 80
Other (usually singles and twins): 121
New Construction (could be of any type): 98

There are currently 93 properties for sale in Northern Liberties, about 4 months supply as 22 properties sold per month in 2016. A market with less than 6 month's...

Washington Square West Real Estate Summary 2016

Washington Square West Real Estate 2016

The amount of homes sold in Washington Square and Washington Square West declined by approximately 13% in 2016. This was primarily due to a 21% in the number of properties offered for sale. See statistics and relevant graphs at the following link:

Washington Square West Real Estate Statistics 2016

Sales Breakdown by Property Type

Single/detached: 1
Twins/semi-detached: 1
Townhouses: 72
Unit/Flat: 66
Mobile Homes: 0

Sales breakdown by Property Category

Condominiums (usually unit/flat): 86
Properties with Homeowner's Association (usually townhouses): 12
Other (usually singles and twins): 42
New Construction (could be of any type): 0

At the time of this post, there are 40 properties for sale in Washington Square and Washington Square West, about 3.5 months supply given that approximately...

Fishtown 2016 Real Estate Summary

Fishtown Real Estate Market summary 2016

The demand for residential real estate in Fishtown continued to be strong in 2016. See statistics and relevant graphs at the following link:

Fishtown Real Estate Statistics 2016

Sales Breakdown by Property Type

Single/detached: 15
Twins/semi-detached: 30
Townhouses: 584
Unit/Flat: 75
Mobile Homes:

Sales breakdown by Property Category

Condominiums (usually unit/flat): 89
Properties with Homeowner's Association (usually townhouses): 57
Other (usually singles and twins): 563
New Construction (could be of any type): 209

At the time of this post, there are 164 properties for sale in Fishtown, slightly less than 3 months supply given that approximately 59 properties sold per month in 2016. A market with less than 6 month's inventory is considered to be a seller's market. This is further confirmed...

Rittenhouse Square Real Estate Market 2016

Rittenhouse Square Real Home Sales 2016

The demand for residential real estate in Rittenhouse Square continued to be strong in 2016. See statistics and relevant graphs at the following link:

Rittenhouse Square Real Estate Statistics 2016

Sales Breakdown by Property Type

Single/detached: 3
Twins/semi-detached: 0
Townhouses: 73
Unit/Flat: 255
Mobile Homes:1

Sales breakdown by Property Category

Condominiums (usually unit/flat): 234
Properties with Homeowner's Association (usually townhouses): 45
Other (usually singles and twins): 53
New Construction (could be of any type): 7

At the time of this post, there are 145 properties for sale in Rittenhouse Square, slightly more than 3 months supply given that approximately 45 properties sold per month in 2016. A market with less than 6 month's inventory is considered to be a seller's market. This...

Phoenixville School District Home Sales 2016

Phoenixville School District Home Sales 2016

The demand for residential real estate in Phoenixville School District continued to be strong in 2016. See statistics and relevant graphs at the following link:

Phoenixville School District Real Estate Statistics 2016

Sales Breakdown by Property Type

Single/detached: 264
Twins/semi-detached: 77
Townhouses: 166
Unit/Flat: 21
Mobile Homes:12

Sales breakdown by Property Category

Condominiums (usually unit/flat): 37
Properties with Homeowner's Association (usually townhouses): 172
Other (usually singles and twins): 331
New Construction (could be of any type): 23

At the time of this post, there are 112 properties for sale in the school district, less than 3 months supply given that approximately 45 properties sold per month in 2016. This has been one of the hottest markets in the area, and though inventory...

Radnor School District Home Sales 2016

Radnor School District Real Estate summary 2016

Strong demand for residential real estate in Radnor School District continues in 2016. See statistics and relevant graphs at the following link:

Radnor School District Real Estate Statistics 2016

Sales Breakdown by Property Type

Single/detached: 267
Twins/semi-detached: 26
Townhouses: 18
Unit/Flat: 35

Sales breakdown by Property Category

Condominiums (usually unit/flat): 48
Properties with Homeowner's Association (usually townhouses): 50
Other (usually singles and twins): 238
New Construction (could be of any type): 8

At the time of this post, there are 110 properties for sale in the township, less than 4 months supply given that approximately 28 properties sold per month in 2016. The less-than-6-months inventory and the 6.9% rise in average prices to roughly $694k make this a seller's market. This is a theme...

Lower Merion Real Estate Summary 2016

Lower Merion Real Estate summary 2016

Strong demand for residential real estate in Lower Merion Township continues in 2016. See statistics and relevant graphs at the following link:

Lower Merion Township Real Estate Statistics 2016

Sales Breakdown by Property Type

Single/detached: 603
Twins/semi-detached: 95
Townhouses: 60
Unit/Flat: 150

Sales breakdown by Property Category

Condominiums (usually unit/flat): 171
Properties with Homeowner's Association (usually townhouses): 50
Other (usually singles and twins): 687
New Construction (could be of any type): 36

At the time of this post, there are 330 properties for sale in the township, less than 5 months supply given that approximately 75 properties sold per month in 2016. The less-than-6-months inventory and the 2.5% rise in average prices to roughly $615k make this a seller's market. The fact that more properties...

Tips to Save Energy and Add Value

When it comes to energy efficiency, look for smart features and expertise to help you save energy and money and add value to your home.

1. Begin with a Right-Sized Home.

If the home you buy is simply too large for you or your family’s needs or plans, you stand a good chance of wasting energy through excessive heating and cooling costs. If it’s too small, you’ll feel cramped and uncomfortable. It’s a big investment, so seek balance and buy it “right” from the outset. 

2. Purchase Energy Star Appliances Such as Your TV, Dishwasher, Washer and Dryer, and Microwave.

And especially the refrigerator, as it alone contributes about 10 percent of the energy use in a home. Also, unplug electronics not in use or turn off power strips to avoid phantom charges. 

3. Install Efficient Lighting Such as Compact Fluorescent (CLF) or LED Bulbs in Every Fixture.

Lighting accounts for about 6 percent of an energy bill each year.

4. Get...

So You're Looking for a Condo

Condominium living offers many benefits:

  • You don't have to concern yourself about exterior home maintenance anymore. Bye-bye lawn equipment and extension ladders.
  • You own a real estate asset that provides the same tax benefits and appreciation possibilities as any home.
  • There is frequently an enhanced sense of community in a condominium development versus a detached home neighborhood

But before you take the plunge, you owe it to yourself and your family to get answers to the 7 questions below.

  1. What is the financial health of the development? You have the right to examine the current financial statement of the condominium association of your prospective development. Your real estate agent can procure this for you. This is done after there is an agreement of sale in place and the agreement should allow you to exit the deal and receive back your earnest money if you are not satisfied with what you find. You want to look at the operating budget and see what kind of cash reserves exist. There...

Home Warranty Q&A

What is a home warranty and what does it cover?
A home warranty is essentially a service contract for home owners that, in its base version, commonly covers repair or replacement of appliances and heating and cooling systems. There may be more expensive versions of the warranty that offer more inclusive coverage. In addition, coverage of other items such as pools, hot tubs, septic systems, etc. may usually be added at an additional cost.

What do home warranties cost?
Basic plans cost in the mid $400s. Upgraded plans are closer to $600. Some companies charge more or less, depending on the size of the house or the part of the country your home is in. Home warranties are often purchased for homes that are being sold, but may also be purchased by homeowners that are not moving.

What's the difference between a home warranty and homeowner's insurance?
A home warranty covers appliances or mechanical systems in a home that fail due to normal wear and tear. For example, if your garage door opener, refrigerator...

Haverford Reserve Condos and Carriage Homes

The carriage homes and the condominium development at Haverford Reserve are a significant development in Haverford Township. The condominiums, known as Athertyn, are being constructed by Pohlig Builders. The carriage homes are being built by Guidi Homes and the Goldenberg Group. Building began in 2008 and continues in 2015. Relevant facts below:

  • This is a luxury development. The price of the least expensive condominium sold to date was in the mid $400s and the least expensive carriage home price was in the mid $600s. Price per square foot for recently sold condominiums at Athertyn is approximately $325. This is lower than the price per square foot at some other new or almost new developments such as Pembroke North in Wayne and Ardleigh in Ardmore, similar to the square foot price for recently sold units at Cambridge Square, another almost new building in Ardmore but more than the square foot price for units in older luxury buildings such as 100 Grays Lane and La Chanterelle in Haverford.

  • Condo fees at Athertyn vary by square footage of the unit as...

Does Real Estate Video Help to Sell Houses?

This is still an open question to many agents and brokers, judging from the low percentage of listings that feature videos of the property. The reason for this may be the cost of having a video made--$200 or more, still not a lot in my opinion--or perhaps it's the fact that most agents do not have the equipment or expertise to make videos themselves. I did not find any definitive studies of the subject online but found a few pages and documents below that addressed the utility of video in real estate or, more broadly, in any business.

The link below is to an article posted in 2012 concerning the use of video in selling homes costing less than $500k. It quotes the general manager of a company in Australia that owns the well known site, domain.com.au, who states that listings with a video receive 400% more enquiries than those that don't.

Videos for sub-500k homes

A more general recitation of statistics related to consumption of video,...

Ice Dams: Causes and Cures

Ice Dams: Causes and Cures

To say that that the Winter of 2014 has been rough in the northeastern US is to put it mildly. In Philadelphia, we've already had 58 inches of snow and could challenge the 2009-2010 record of 78 inches. Add frigid temperatures to the mix and you have the key ingredients for ice dams which can cause home damage, making them less salable as well as less inhabitable.

But what is an ice dam? It's the buildup of ice at the base of the roofline (see photos below), and frequently on top of gutters, that can impede the flow of melting water from the roof. This water can then seep under shingles and cause various kinds of damage to the interior and exterior of a home including: mold and mildew, wood rot, water stains and insulation damage. The weight of such dams can cause gutters to bend or even detach completely from the house.

...

Sell your Home with Photographs

It's an oft stated maxim that good quality photographs give a home for sale a competitive advantage in the Real Estate market. Below is research that backs up this statement.

There is a well-known study performed by Redfin Corp on Boston and Long Island sales in the 2009 - 2010 period. There was also a Wall Street Journal summary of the research. The study compares the difference between asking and final price of homes whose listing photos were created with a point-and-shoot camera versus those in which a Digital Single Lens Reflex (DSLR) was used. Properties that had the higher quality DSLR photos sold for more and were viewed more often than the point-and-shoot properties.

According to the 2012 NAR Profile of Buyers & Sellers 98% of homebuyers searching...

Copyright 2017 TREND, All Rights Reserved. Information deemed reliable but not guaranteed. The data relating to real estate for sale on this website appears in part through the TREND Internet Data Exchange program, a voluntary cooperative exchange of property listing data between licensed real estate brokerage firms in which Berkshire Hathaway Home Services Fox & Roach Realtors participates, and is provided by TREND through a licensing agreement. The information provided by this website is for the personal, non-commercial use of consumers and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Data last updated: 11/18/2017. Some properties which appear for sale on this website may no longer be available because they are under contract, have sold or are no longer being offered for sale. Some real estate firms do not participate in IDX and their listings do not appear on this website. Some properties listed with participating firms do not appear on this website at the request of the seller. This home sale information is not to be construed as an appraisal and may not be used as such for any purpose. TREND MLS is the (or a) provider of this home sale information and has compiled content from various sources. Some properties represented may not have actually sold due to reporting errors.