NORRISTOWN, PA – The ribbon-cutting ceremony was a casual affair at the 24-unit Arbor Mews townhouse project Thursday on DeKalb Street.
Nine of the 24 townhouses have been sold and two more are under deposit, said Sarah Peck, the president of Progressive Housing Ventures.
“We will have purchase settlements twice a week from mid-May to mid-June with the homeowners moving in shortly after that. Seven of the buyers are first-time homebuyers and four qualified for at least one grant to help with the townhouse purchase.”
Construction for the overall project is expected to be complete in late fall or early next year.
Location of Lansdale in Montgomery County (Photo credit: Wikipedia)
Editor’s note: This is the desired effect of revitalization in case anybody in Pottstown Borough government cares!
One in a continuing series spotlighting real estate markets in this region’s communities.
If you’ve been house-hunting and Lansdale is on your list of possibilities, consider setting aside Saturday to give this Montgomery County borough the once-over.
Don’t expect to be alone, though, because June 1 from 10 a.m. to 4 p.m. is Lansdale Day, which typically attracts up to 5,000 people downtown, from Green Street to Cannon Avenue, to a fund-raiser for the Rotary of North Penn.
Even without the lure of a day of fun along West Main Street, a lot of people – especially younger ones and first-time buyers in search of affordable housing – have been heading to Lansdale lately.
A bright spot in the Pennsylvania housing market is York County. During the fist six months of 2010, York County home sales increased a whopping 18% while the median sale price decreased $8,900 dollars.
All but two York County school districts saw increases in home sales. The largest increase was 63% in the Dover SD of York County. Central York had a 35% increase, Hanover Public increased 25% while York City, South Western and Red Lion had 23% increases in home sales.
The federal tax credits for new home buyers has certainly helped sales and attributed to the decrease in the median sale price because of the number of first time buyers who typically purchase homes in a lower price range.
The tax credit program ended in June and according to the Realtors Association of York & Adams Counties most buyers have already settled even though the deadline for settlement was extended to September. Time will tell if this trend can be sustained without the tax incentive.