Community Corner
Where Is Real Estate Thriving on the Main Line?
Patch brings you the best and worst performing towns and townships for the first half of 2011.
While the Main Line in a long-term view is one of the most stable submarkets of the Philadelphia region, it has been negatively affected by the economic downturn of the past five years. But the numbers are slowly inching back up.
In the nine municipalities Prudential Fox and Roach categorizes as the Main Line in its Home Expert Market Report:
- Median home prices increased 11.5 percent to $375,000 from the first half of 2010 to 2011.
- Home sales decreased 7.5 percent to 1,036 homes sold in the first half of 2011.
- The average number of days a home remained on the market increased from 77 days in the first half of 2010 to 97 days.
Note that in analyzing data on a township by township basis the numbers can “swing wildly” because one large transaction or the sell out of a new construction project can have a big impact on the small amount of transactions, said Steve Storti, senior vice president of marketing for Prudential Fox and Roach.
Find out what's happening in Haverford-Havertownwith free, real-time updates from Patch.
Check back Tuesday on Radnor Patch to read the detailed numbers on Radnor's housing market performance.
January through June 2011 vs. January through June 2010
Find out what's happening in Haverford-Havertownwith free, real-time updates from Patch.
By Township
Number of Home Sales
Highest
Radnor 46.8 percent increase
Malvern 25 percent increase
Newtown 6.2 percent decrease
Lowest
Narberth 30.8 percent decrease
Willistown 22.7 percent decrease
Tredyffrin 14.1 percent decrease
Median Price of Properties Sold
Highest
Willistown 11.9 percent increase
Haverford 4.6 percent increase
Radnor 1.3 percent increase
Lowest
Easttown 19.5 percent decrease
Malvern 16.9 percent decrease
Lower Merion 3.4 percent decrease
By Main Line Area
Number of Home Sales
Highest
Villanova 60 percent increase
Bryn Mawr 18.8 percent increase
Merion Station 14.8 percent increase
Lowest
Ardmore 36.9 percent decrease
Wynnewood 28.3 percent decrease
Gladwyne 14.3 percent decrease
Median Price of Properties Sold
Highest
Merion Station 24.1 percent increase
Villanova 17.9 percent increase
Ardmore 14.3 percent increase
Lowest
Bala Cynwyd 25.2 percent decrease
Gladwyne 23.9 percent decrease
Wynnewood 12.1 percent decrease
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