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Tredyffrin Township~Town Home Condo 2nd Quarter Market Report

Tredyffrin Township Pa Town Home-Condominium ~ 2nd Quarter Market Report*

It’s interesting to take a closer look at the Chester County, Tredyffrin TownshipTown Home and Condominium real estate market. Some of the Town Home Communities in Tredyffrin Township are Chesterbrook, Arbordeau, Old Forge Crossing, Daylesford Lake, Paoli Point, Woodgate and Paoli Woods.  Each Community has unique features and price points but they all share a great school system, convenient location and easy commuting. The Town Home and Condominium market is primarily a First Time Buyer and a Downsizing niche market.

The Average Sold Price for Town Homes and Condos in Tredyffrin peaked in August of 2007 at $325,778, creating a 9% drop in the average sold price between August of 2007 and June of June 2008 at $296,331.

The Median Sold Price peaked in August of 2007 at $346,000 and June of 2008 at $264,000, representing a 23.7% decline.

The following chart illustrates the Absorption Rate for Town Homes and Condos in Tredyffrin as of the 2nd Quarter of 2008 providing a very graphic picture of the effect of the residual inventory in considering the Absorption Rate. The residual inventory plays such Read the rest of this entry »

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