From Carlinos to The Milkboy: Ardmore Housing Market is Nuanced and Eclectic, Classy and Funky

Like Milkboy Music/Coffee: Ardmore is Eclectic and Nuanced

One of the reasons I really like Ardmore is that it is supremely well located and it is emerging on many levels. Long talked about development of transit/retail center in downtown is approaching fruition and numerous business with a progressive vibe are choosing Ardmore and the word is spreading. Recent arrivals include Tired Hands Brew Pub at Ardmore/Lancaster Ave. and several places along Rittenhouse Place including Barbaco Peruvian grill. Multiple higher-end townhouse developments have sprung up and are springing up in Ardmore and nearby Haverford. Priced in the 500-600s, these new construction residences are emblematic of developers obvious confidence in the area, as well as a positive indicator regarding the direction of property values.

Granted, like most every community along the Main Line, Ardmore is eclectic and nuanced. There are high-end, upscale neighborhoods from 500k to one million, there are upper middle class neighborhoods with homes priced 300-500k, there middle/working class neighborhoods at 200-300k, and there is a lower valued section which includes some subsidized housing and 100-150k homes, many needing work and only about 1000 or so square feet in size.

In terms of Risk/Reward/Resale, the bottom line is that middle class Ardmore is a very stable and mature, area in a well-established dynamic location shoe-horned amongst two great public school districts, several fine private schools, colleges, parks, and a myriad of excellent shopping/dining/ transit options, all within 20 minutes of Center City Philadelphia. 

I believe Ardmore - primarily in the 150-350k range is a high quality of life, Low Risk home investment with average or above market resale rewards in the short term (4-7 years), as well as excellent potential for above average returns in the long term (8-12 years). Whether it's the highly desirable Lower Merion School District or the up and coming Haverford School District, Ardmore offers a relatively secure (crime is not unheard of), quality lifestyle that is in demand for families. Its proximity to culture, city and emerging nightlife will continue to see it attracting professionally-minded couples and singles.

Basically with Ardmore, you pick your price point and desired neighborhood. If you want to be a Mainline "gentrifying pioneer" and live in the relatively small under-income section of Ardmore, there are very well-priced opportunities. Due to the very low entry cost and position in Lower Merion township, the risks of not reselling at or above market returns is small. This is true thoughout the middle class options, as well.

What has yet to establish a track record are resale values of the higher-end new construction condos and townhouses. Two such developments - Ardmore Crossing (400k), which borders a lower income section of Ardmore, and Sibley Avenue's somewhat newer and upscale Cambridge Square (500-700k) by the Ardmore Farmers Market -have each seen significant reductions in value since pre-boom and boom levels. Nevertheless, I believe the continuing development of this market is evidence that demographics/plans/trends show there will be consumers to support this market. 

Whether your price point is a $150,000 row home, quaint $250,000 twin, $450,000 condo/single family home, or one of the newer $500,000 and up town-house options near Lancaster Avenue, I believe there is a tide rising in Ardmore which will lift property values at or above average for the Western suburbs of Philadelphia.