Luxury condos continue to dominate the Center City real estate market as demand increases, but the suburbs remain a competitive market all their own. We asked brokers with Prudential Fox & Roach Realtors—Selma Glanzberg (336 Conshohocken State Road, Gladwyne, 610-896-7400) and Michael Sivel (14 W. Evergreen Ave., 215-247-3750)—to tell us about stellar suburban neighborhoods.
What are some of the top neighborhoods in the suburbs right now?
SELMA GLANZBERG: The Main Line, where a large portion of my business comes from, has fabulous public houses and private schools.
MICHAEL SIVEL: Chestnut Hill. The neighborhood [has been] rated as one of the top urban communities in the US by Forbes. There is easy access to parks and recreation and a lot of activity on Germantown Avenue with retail and restaurants.
How important is new construction?
MS: Chestnut Hill has older housing stock but the character of the homes is really appealing in the marketplace—many have been rehabbed, though. Most are single-family residences with a Normandy-style stone construction and a slate roof. Elsewhere, there’s a strong desire for new construction or new construction that’s resold.
SG: It’s very important. But if it’s not new construction, then it should be in good condition with a brand-new kitchen. Everyone has a wish list but buyers still need to realize that they have to compromise.
What are some of the hottest suburban properties right now?
SG: One listing I have right now is truly the perfect house. It’s located in Penn Valley and everything is customized work. The home has a wine cellar, a workout area, a massage room, and room for the pool. It’s priced right under $2 million.
MS: I have a listing for a home in Whitpain that looks like it [belongs] in Aspen. It’s set on more than three acres with a double-sided stone fireplace, game room, wine cellar, and home theater. The home covers over 9,000 square feet. At $2.9 million, it is one of the best deals in the Philly area.