Lower Merion School District Enrollments and the Penn Alexander Catchment Property Bubble

Officials: Retrofitting LMHS can address future space issues

Despite major renovations in recent years, enrollment at Lower Merion's two high schools is projected to exceed capacity by 2019, if not sooner.. The prevailing option to handle the overflow is to develop and repurpose existing space in Lower Merion High School's old "A" building. Students who graduate from Welsh Valley Middle School - and who have typically been funnelled to Harriton High School - will get the option to choose Lower Merion High School in future years.

It is expected enough students will opt for LM and its enhanced capacity, so that no brand new construction will be required at either school. Ultimately, the lives of few are bound to be upended by this relatively featherweight redistricting. Both high schools are excellent and, if anything, the commutes of some students may even be slightly shortened by the opportunity to choose Ardmore over Rosemont.

But the situation bears watching. The expected surge in high-school population is already being felt at the

LMSD Enrollment Bulletins

elementary and middle school levels, and the School Board has already approved classroom expansion projects at Gladwyne, Penn Valley and Welsh Valley. Hopefully, affordable modifications of existing school facilities - not acrimonious redistricting - will continue to be a viable solution for enrollment expansion. As a parent, property owner and Realtor, confidence in  the quality and stability of our Lower Merion public schools is one of several core reasons to continue believing in our community's prosperity.

But just a few miles away in University City,  infatuation with high-quality, affordable public education  is exceeding sustainablility and has created a mini real estate bubble that may be about to pop. The Penn Alexander School - which serves public school grades K-8 in a Catchment Zone running (E-W) from 40th to 47th Streets and (N-S) from Sansom to (roughly) Baltimore Ave - opened in 2001 and receives substantial financial and institutional support from its prestigious neighbor, the University of Pennsylvania. In its decade-plus existence, the school has emerged as possibly the city's finest for its age group and has caused a clamor for home ownership within the boundaries of its catchment zone. It's estimated that $100,000 - $150,000 in value has been added to homes whose addresses qualify for attendance in the school.

Paying a premium for a home with a guaranteed spot in a great public school is one thing, but how much is it worth to NOT be guaranteed a slot, but only participation in a lottery to get a slot in the school? This is the question home-buyers and Realtors had to ask when school officials determined, in early 2013, that enrollment in Penn Alexander School was no longer a given right of property ownership within the catchment boundaries.

On one hand, the lottery system and statistics ostensibly ensure that nearly every child applying for admission will be accepted, but what of the family that spends an extra $125,000 and then draws the short stick and is left out? Very few kids/families will be affected, but the uncertainty is a harsh reality for those who paid, or are considering paying a premium to buy into the Penn Alexander School catchment.

In Lower Merion, our home values are also buttressed by the desirability of the quality of public education available to residents. We are fortunate to be in a more stable and sustainable position than our University City neighbors. But the time could come when too much love for our schools could actually start to erode, rather than enhance Lower Merion's charmed relationship between home values and quality education.

Click Here to view Lower Merion School District's Info Page on Enrollment Plans

May's Lower Merion Home Sales - Fast, Above Ask!

1205 Weymouth: Sold in 3 Days for $42,000 above Asking Price

Decent bones but a major updating overhaul was in order for this Wynnewood/Penn Wynne split-level, on Weymouth Rd. Located only a block from Manoa Park, it hit market at a very attractive price of $419,000 and incited a fast and fierce bidding war. When the dust settled, the winning bid was $455,000 and it was said buyers waived thier mortgage contingency... Of the 54 Lower Merion houses that sold in May for under a million, this was one 24 that went under contract in 10 days or less after  listing, and also one of the 14 homes that sold above ask price.


May 2013: Lower Merion Township Homes Sold under $1 Million, with Days on Market*

Sold For	Street Address	Town	Bed	Bath	Sq Ft	Listed For	Mkt*
$360,000	124 Sutton Rd	Ardmore	3	1.1	1,640	$379,900	10
$363,500	111 Simpson Rd	Ardmore	5	3	2,179	$349,900	4
$470,000	506 E Spring Ave	Ardmore	3	2.1	2,128	$459,900	2
$630,000	144 Sutton Rd	Ardmore	4	3.2	3,531	$629,995	287
$762,500	217 Kent Rd	Ardmore	6	3.1	2,810	$799,000	20
$205,000	310 Parsons Ave	BalaCynwyd	4	1	1,836	$239,900	237
$260,299	19 W Dartmouth Rd	BalaCynwyd	5	2.1	2,711	$290,000	3
$263,900	734 Consh. St Rd.	BalaCynwyd	3	1.1	1,360	$259,900	5
$410,000	126 Ashland Ave	BalaCynwyd	3	2.2	1,982	$429,900	36
$414,000	110 Union Ave	BalaCynwyd	3	2.1	1,715	$425,000	7
$420,000	134 Cynwyd Rd	BalaCynwyd	5	3	2,116	$415,000	18
$500,000	125 David Rd	BalaCynwyd	3	2	2,307	$500,000	23
$519,000	126 Cynwyd Rd	BalaCynwyd	5	2.1	1,760	$519,000	5
$530,000	131 Ashland Ave	BalaCynwyd	4	2.1	3,054	$544,900	63
$540,000	107 Clwyd Rd	BalaCynwyd	4	3.1	2,480	$549,000	148
$635,662	135 Ashland Ave	BalaCynwyd	4	2.1	3,054	$544,900	102
$865,000	108 Cornell Rd	BalaCynwyd	5	3	4,007	$899,000	158
$950,000	95 W Levering Mill	BalaCynwyd	6	3.1	3,730	$949,900	9
$260,000	1039 Rees Ave	Bryn Mawr	4	1.1	1,783	$289,000	248
$879,000	1410 Orchard Way	Bryn Mawr	4	3.1	2,698	$879,000	10
$939,000	872 Roscommon Rd	Bryn Mawr	4	2.1	3,139	$939,000	4
$264,000	858 Summit Grove	BrynMawr	4	2.1	1,390	$269,000	7
$545,000	1201 Rose Glen Rd	Gladwyne	2	1.1	1,230	$595,000	202
$850,000	1125 Club House	Gladwyne	4	3.2	4,854	$869,000	7
$720,000	304 Mill Creek Rd	Haverford	5	5.1	3,696	$749,000	14
$387,000	15 Orchard Rd	Merion	3	2.1	1,867	$399,900	30
$535,000	233 1/2 Hamilton Rd	Merion	4	2.2	2,356	$549,000	32
$674,000	271 N Bowman Ave	Merion	4	3.1	3,284	$699,000	6
$556,000	501 Putnam Rd	Merion	4	3.1	2,392	$549,000	8
$242,000	505 Homewood Ave	Narberth	3	1	1,340	$255,000	182
$263,000	504 Beechwood Ln	Narberth	3	1	1,160	$268,900	303
$320,000	39 Sabine Ave	Narberth	3	1	1,169	$325,000	4
$390,000	401 Dudley Ave	Narberth	5	1.2	1,992	$389,900	8
$520,000	135 Merion Ave	Narberth	4	2.2	2,330	$529,000	35
$532,000	3 Langdon Ln	Narberth	4	2.1	2,200	$519,900	3
$630,000	410 Grove Pl	Narberth	5	2.1	3,200	$710,000	55
$391,000	1244 Greentree Ln	Penn Valley	4	3	2,473	$375,000	10
$657,500	825 Bryn Mawr Ave	Penn Valley	5	2.2	4,224	$729,000	207
$110,000	2 Overbrook Pkwy	PennWynne	4	2.1	2,317	$120,000	1
$230,000	109 Rock Glen Rd	PennWynne	3	1	1,224	$244,900	27
$286,000	233 Harrogate Rd	PennWynne	3	2.1	1,364	$279,500	20
$295,000	1424 Greywall Ln	PennWynne	3	1.2	1,588	$298,500	12
$377,500	1523 Powder Mill Ln	PennWynne	3	2	1,633	$385,000	2
$502,000	109 Overbrook Pk	PennWynne	4	2.1	2,293	$499,000	5
$450,000	308 Saybrook Rd	Villanova	3	3.1	2,971	$500,000	323
$100,000	1447 Manoa Rd	Wynnewood	2	1	1,638	$130,000	37
$455,000	1205 Weymouth Rd	Wynnewood	4	2.1	3,082	$419,000	3
$575,000	223 Gypsy Ln	Wynnewood	5	4.1	2,974	$589,000	36
$635,000	427 Ballytore Cir	Wynnewood	3	2.1	3,300	$675,000	359
$635,100	318 Hathaway Ln	Wynnewood	5	3	2,784	$635,000	4
$735,000	505 Foxglove Ln	Wynnewood	4	2.2	2,784	$749,900	13
$750,000	267 Hathaway Ln	Wynnewood	6	3.1	2,714	$799,000	60
$861,000	247 Hathaway Ln	Wynnewood	6	3.1	3,372	$849,000	6

For Photos and Details on Each of the Above Listing Click  Here

(If link is expired emai request to Ted@R5Realty.com)