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 Bryn Mawr-Gladwynewith free, real-time updates from Patch.
January through June 2011 vs. January through June 2010
By Township
Number of Home Sales
Find out what's happening in Bryn Mawr-Gladwynewith free, real-time updates from Patch.
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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