Special offer

Homes Sales in Gristmill Run, Towamencin Township, Lansdale PA - 2005 - 2011

By
Real Estate Agent with Keller Williams Real Estate - Montgomeryville AB066108

Homes Sales in Gristmill Run, Towamencin Township, Lansdale PA - 2005 - 2011Since the price peaks of 2006, home prices have declined throughout the country.  Montgomery County PA is no exception, and average prices are 15-20% off their peaks.  But looking at averages throughout a county as large as Montgomery County don't always provide an accurate picture of what is happening in some communities or developments; some pockets have held up better than others.

Let's look specifically at Gristmill Run; this is a development of 160 beautiful single family homes in Towamencin Township built in the early-1990's.  Most of the homes are 4BR/2.5BA colonials with full basements and 2-car garages, situated on cul-de-sacs with relatively small lots (0.15 - 0.4 acres) but abundant open space throughout the development.  Nicely situated, Gristmill Run is relatively close to the Lansdale exit of the PA Turnpike, Route 309 and Septa's R-5 regional rail line making it good for commuting.  Gristmill Run is part of the well-known North Penn School District, plus shopping, parks and recreation are easily accessible.

In 2005, nine homes in Gristmill Run sold with prices ranging from $335K - $429K and an average price of $397K and 23 days on the market. Prices peaked in 2006 with the highest sale in the development at $452K.  On average, seven homes sell each year.  In 2011, six homes have sold ranging from $365K - $390K; one home is currently on the market in Gristmill Run at $355K.

So the average prices of homes sold in Gristmill Run is currently 8.1% off peak; whereas, if you look compare Q306 average prices in Montgomery County to Q211, the county as a whole is 17.4% off peak.

The days on market for home sales in Gristmill Run peaked in 2010 at 91 days.

Homes Sales in Gristmill Run, Towamencin Township, Lansdale PA - 2005 - 2011

Gristmill Run in Lansdale PA is an excellent example of a development that has outperformed the market.  Gristmill Run is a desirable community in large part due to the location, design and layout of the development and the style of homes.  Pride of ownership shows throught the community as owners take excellent care of their homes, lawns, and landscaping.  From neighboghood BBQ's in the summer to a trick-or-treaters heaven at Halloween to festive lights at Christmas to huge snowmen in the dead of winter, drive through Gristmill Run in any season and see why it has beaten the odds.

 

Contact Scott Loper, Associate Broker, Realtor®, RE/MAX Realty Group at 215-513-1333 for help buying or selling a home in Lansdale, Harleysville, Hatfield, Souderton, Skippack, Collegeville, North Wales and the surrounding areas of Montgomery County of Pennsylvania. To Search for Homes For Sale in Montgomery County Click Here.

Homes Sales in Gristmill Run, Towamencin Township, Lansdale PA - 2005 - 2011 - Copyright © 2011, The Scott Loper Team, All rights reserved.

Posted by

 

If you enjoy reading our blog, please SUBSCRIBE.

The Scott Loper Team

Scott & Lisa Loper

Scott Loper Team at Keller Williams Real Estate

 

Comments (2)

Joan Cox
House to Home, Inc. - Denver Real Estate - 720-231-6373 - Denver, CO
Denver Real Estate - Selling One Home at a Time

Lisa, great market report for Gristmill Run, and with these interest rates, hopefully will see sales well into the winter months!

Sep 19, 2011 05:03 AM
The Scott Loper Team Bux-Mont Premier Properties
Keller Williams Real Estate - Montgomeryville - Lansdale, PA

Thanks Joan! I think the interest rates are spurring activity. The DOM are down for 2011.

Lisa

Sep 19, 2011 04:41 PM