Well, there is little doubt the tax credit provided a fairly significant boost for the real estate market, the Liongate Community included.  As real estate professionals, we have noticed a “slowdown” since the credit expired April 30.  This was not unexpected as it was fairly obvious that a number of May/June buyers moved their purchase earlier to take advantage of the tax credit.  We expect this to resolve itself in the very near future.  In fact, I have noticed an increase in buyer interest in the last couple weeks.
 
So what about our area of specific interest, the Liongate Community.  There were 10 homes sold in Liongate in the last six months.  Not bad, but most of that time was during the “tax credit period”.  SINCE THE TAX CREDIT EXPIRED, 2 homes have gone under contract.  Bottom line, the Liongate Community experiences a fairly steady demand.  Yes, there was an uptick in activity during the tax credit period, a slowdown immediately following (May), but homes are still selling in Liongate!
 
Currently there are 8 townhomes listed for sale.  If you are considering selling your Liongate home, now might be a good time to give The Kim Wood Team a call.
 
For a slightly broader “look” at the real estate market surrounding the Liongate Community, check out John Lauber’s excellent analysis of the Uwchlan township posted below.

“How’s the market?” is one of the most common questions we hear as real estate agents. The chart below shows the past year, ending in June, 2010. As you can see, Uwchlan township, which Liongate is a part of, has had steady sales for the past year. With the activity in March and April, as the tax credit ended, shows an increase in listings and eventually solds (see June) as sellers tried to get their home on the market and let buyers take advantage. Those under contract listings, became June’s solds as the original settlement date of June 30, 2010 approached (note: that was recently extended for settlements only to the end of September, 2010).

The days on market has remained remarkably low compared to Chester County and it could be considered a “normal” market, as the current absorption rate for Uwchlan township is only 6 months of inventory (i.e. 6 months to sell all current inventory with no new listings). Anything between 5 and 8 is generally considered a normal market. Chester County is still tilted towards a buyer’s market.

If you would like even more detailed information regarding your property, especially as it pertains to the Liongate community, feel free to contact us.

Check out the chart below:

Is the Market picking up?
Are Homes Selling?

The answer is “YES” ! Real Estate Market Statistics is very local. At the time of this post, here is the latest activity for Liongate Community according to the MLS.

Currently there are 6 Townhomes listed for sale in the MLS within the Liongate Community*. The average list price is $218,417 and the average time the property has been marketed is 74 days.

14 Townhomes sold within the Liongate Community* in the past 12 months with an average sold price of $214,387. The homes were being marketed on average of 69 days.

*Agents who are not thorough and don’t include the neighborhood specifically in the listing do not allow for people to search by neighborhood. (This includes buyers, not just other agents). This information does not include any listings or sold properties that are excluded from listings in the MLS.