So I recently posted how Radnor single family homes price per sq foot had increased in the last quarter, but you may be wondering how does that compare to other Main Line townships.
Well over the last five quarters I have been tracking several of these and the numbers are below. I like price per square foot for several reasons, although many residential buyers ignore it to determine price for a property it is more reliable as an indicator than median or average price of homes sold because it is less affected by one or two high value sales.
Main Line Townships Price per sq ft History
|Township/Qtr||Qtr 3 2010||Qtr 4 2010||Qtr 1 2011||Qtr 2 2011||Qtr 3 2011|
As can be seen prices have gone up and down in the region as we have moved through the housing crisis over the last year, however, overall they have not moved as dramatically as other areas in the country. The Philadelphia suburbs hold many of the features that buyers want in today's market, with good employment options, good transportation, good schools, strong communities and a solid and varied housing base providing plenty of choice for buyers in all price brackets.
Days on market has definitely got longer in all townships, noticeably longer in some more than others but foreclosures and short sales have been much lower locally than other areas of the country.
Whilst these numbers give a general indication for a township, to arrive at a more specific price for a home that is going on the market or that is for sale, you need to use more local data than all sales in a township.