Folcroft PA home prices continue to rise but sales activity has eased.
First settled in the 1600s as part of New Sweden, Folcroft was one of the earliest developments in what is now southeastern Delaware County Pennsylvania. Folcroft was incorporated as a separate Borough in 1922. Originally a farming area, today it is a convenient residential suburb to Philadelphia containing a nice selection of over 2500 row, twin, and single family homes. It's location provides quick access to Philadelphia, the Philadelphia International Airport, and all areas north and south along I-95. In addition, it is a stop on the Philadelphia Media/Elwyn Regional Rail line with direct service to downtown Philadelphia.
Folcroft is a popular residential area with the average area home sale prices recovering nicely from the recession. Sales activity reached a recent low with only 43 home sales in 2012. Average prices reached a low the following year at only $67,000. Since then sales activity and prices have been in a general uptrend with 120 sales in 2018 at an average sales price of $112,000. From the recent lows, these numbers represent a 67% increase in the average price with 2.7 times the sales.
In 2019, the market has continued to be strong but the sales pace is running a bit behind 2018. To date, there have been 21 sales with an average sales price of $124,000. In addition, there are currently 15 properties on the market with an average list price of $128,844, and 16 properties are under contract with an average list price of $121,000.
With Folcroft's ideal location, a strong local housing market, and continued growth in jobs and housing in the Philadelphia region overall, the real estate market in Folcroft looks to continue to be a great housing choice that should be included in any local search.
David Henke
Long & Foster Real Estate Inc – Devon, PA/Wilmington, DE
Office: 610-225-7400/Direct: 610-618-0808
http://www.DelawarePAHomes.com
(All statistics per the Bright MLS System and believed accurate but not guaranteed)
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