Paxon Chase Real Estate Update

Real estate prices and activity remain fairly steady in Paxon Chase.

Paxon Chase is a great home community built in the mid 1980s containing approximately 40 townhomes and 69 single family homes. Located off Paxon Hollow Rd in Marple Township, Paxon Chase offers a nice blend of semi rural living while being in close proximity to major transportation/commuting corridors. This location also affords plenty of entertainment and dining options in Media, the Main Line, and Philadelphia.

Route 320 is minutes to the east and Route 252 is just moments to the west with both providing easy access to the Blue Route (I-476), West Chester Pike, Baltimore Pike and Route 1. With I-95 just down the Blue Route, residents can easily travel toward Philadelphia, Wilmington, and beyond.  It is also convenient to both the Philadelphia International Airport and multiple rail options.

The community was developed in the 1980's. The single family homes were primarily built between 1984 and 1986 while the townhomes along Trout Run Mews were completed in 1987. The single family homes are predominately between 2000 and 3000 square feet with a few ranging over 4000 sq ft usually with 4+ bedrooms. The three bedroom townhomes were on average slightly smaller averaging between 2128 and 2511 sq ft with four units containing 2740 square feet.

Paxon Chase is one of the more stable communities in the area resulting in a relatively slow turnover in properties and more stable pricing. Prices peaked in 2007 as seen in much of the area but have remained fairly stable. The average single family home pricing eased to $438,000 in 2010 versus a $487,000 peak in 2007 but rebounded in 2011 with one closed sale for $473,000. The townhomes saw prices bottom in 2009 with three sales averaging $291,000 but have since recovered into the low $300,000 range. The leisurely pace of sales combined with the variation in individual properties could explain much of this volatility. 

Today there are currently 4 properties on the market: one townhome for $345,000 and three single family homes with an average asking price of $491,000.

With it's relatively stable pricing, great location, and variety of housing options, Paxon Chase should remain a great housing choice in the area for years to come.

Paxon Chase Real Estate Activity Details:

Year:  Townhomes |Avg Price | Single Family |Avg Price
2006:          2            $365,000       1                  $479,000
2007:          1            $365,000       2                  $487,000
2008:          0              ---                1                  $463,000
2009:          3            $291,000       2                  $478,000
2010:          1            $332,000       1                  $438,000
2011:          1            $330,000       1                  $473,000

(excludes one $735,000 sale in 2011)