Havertown 19083 real estate prices (Darby, Darby Township: apartments, foreclosures, houses)

[delmont]

I don't live in Havertown, but I have family there and I'm interested in moving to the area in the next year or two. RE prices have always been relatively reasonable with the high end being maybe in the 400K+ range. 500K+ was rare indeed and I doubt if many, or any, actually sold at that price. Looking at Zillow today, I see several at 500K+ and one at nearly 700K. On the other hand, there seem to be many foreclosures and auctions. Quick question:
Is something happening in 19083 real estate: is it becoming more MainLine with its new 'restaurant row'?
One more:
Why are there so many foreclosures? Is it just a case by case thing?

Thanks in advance!

[mslhu]

I don't know about the foreclosures, but when we sold our Havertown house a couple of years ago, we had multiple offers that included kickers that would automatically increase the offer if someone else outbid it. I think people began to realize it was an ideal community--that suburban feel with great schools and close to both the city and the Main Line, but without the Main Line prices.

[Flyers Girl]

I live in Havertown, in the Oakmont section. I love living here. There are many factors that go into the price disparity that you mentioned. Recognizing that this is a generalization, I would say that the majority of houses going for $500K or more are newer construction or brand new altogether. The property you see that's going for close to $800K is a commercially zoned building suitable for a doctor's or some other type of office, with three attached apartments as well. The building itself is over 3,500 sf and there is tons of parking in the back, including garages for 8 cars.

All that said, the majority of quality homes in Havertown are going to fall anywhere between $250K (for a twin) to $425K. The outliers are just that. The reasons for the higher prices can also generally be attributed to more bedrooms (most of Havertown is populated with 3-bedroom homes, although 4- and 5-bedrooms do exist). Keep in mind, too, that the closer you get to the Lower Merion Twp border (the Beechwood section, for example), the higher the prices may be. Also, don't forget that there is a small, postage-stamp sized section of Upper Darby Township with a Havertown post office (just on the other side of Route 1). Those prices are going to be lower, but the taxes will be much, much higher.

As for the foreclosures, I think that's just a sign of the times and not particular to Havertown. Out of the 65 current listings in Havertown, I see only four currently in foreclosure or already foreclosed (amounting to 4% of listings). The others that you see are in pre-foreclosure, which simply means that the homeowners are in arrears more than a few months. If you add in the pre-foreclosures, the total is 28. Definitely a high percentage (43%), but not indicative, IMO, of the stability of the town.

I'm a huge Havertown booster, so feel free to ask me anything about living in this great area!