Ambler Real Estate News
It is hard to believe that we only have three months left in 2009! If the calender didn’t aptly bring this to light, I would have deduced the impending winter due to the seemingly abrupt need for a wool poncho and slippers while writing this. Anyway… I thought it would be a good time to bring you up to speed on the current happenings in Ambler real estate and a brief recap of events since the beginning of the year.
As of today there are 19 homes for sale in Ambler; 12 single homes, 1 twin and 6 row homes, ranging in price from $174,900-369,900. Since January 1, 2009 40 homes have sold in the borough, priced from $60,000-395,000, 10 homes are currently pending settlement. Of these 40 homes, 20 were single homes, 6 were twins and 14 were row homes. The average days on market for homes in Ambler since the beginning of the year is 86.3, pretty much on par with last year at 86.6, but a far cry from the peak of the market in 2005 at 28 days. 86 days may sound somewhat dismal, but I can assure you it is possible to sell a home in this market in a reasonable amount of time. I have seen several properties in Ambler go under contract within a few weeks. My average days on the market for my listings is currently 18 with an average list to sale price ratio of 98%, this means that homes are still selling in a short period of time and at or close to list price. It is extremely important for homes to be priced properly, aggressively marketed and show well (hopefully better than the competition).
The aforementioned information is based only on resale homes, which until recently was pretty much all Ambler had to offer. Ambler is known for its history and beautiful older homes (my personal favorites) dating as far back as 1732 (corner of Mattison and North Streets). New construction is a term rarely, if ever, associated with Ambler. As Inspector Clouseau would say (in his best french accent) “Not anymore!” A first for downtown Ambler is Station Square, a new townhouse development on South Main Street. Although some are confused by the location, WB Homes did it right. The townhouses are well crafted with great attention to detail and thoughtful modern amenities. Many people have asked me “Why would they build next to the train tracks and who would want to live there?” The location and community are geared towards those who commute and lead the all too common “busy” life style. Just 2 blocks from the train station, it is like city living but in the calm and comfort of the suburbs. It seems they made a good decision as they have already sold 23 of 58 homes/lots. There are 7 different models to choose from, all named after stops along the R5, ranging in price from $310,600-354,00 (not including upgrades to the standard options).
It is still a buyers market by far, but the inventory of homes is slowly decreasing and sale prices seem to be holding steady, some areas have even shown signs of an increase. Fortunately foreclosures have not had a huge impact in our area, unlike many other parts of the country. I am optimistic with regard to the future of home sales and values in Ambler and look forward to an exciting fall!