Town By Town: It's small; it's quiet
One in a continuing series spotlighting real estate markets in the region's communities. When you look at a map of Bucks County, what you first notice about Riegelsville is that it's up there.
One in a continuing series spotlighting real estate markets in the region's communities.
When you look at a map of Bucks County, what you first notice about Riegelsville is that it's up there.
That's simply a reference to the geography of this quaint little borough on the Delaware River, 63 miles north of Philadelphia but just 10 miles south of Easton.
"It's a quiet place," says Frank Dolski, an agent with Coldwell Banker Hearthside Real Estate in Lahaska.
"It has a few businesses, an inn, antiques shops, but it is only one square mile, just a tad smaller than Chalfont Borough," which is 1.6 square miles yet has a population nearly six times larger, Dolski says.
The inn, built in 1838 by borough founder Benjamin Riegel, is on Delaware Road near the three-span suspension bridge, built in 1904 by John A. Roebling's Sons of New York, that connects Riegelsville with Pohatcong Township across the river in Warren County, N.J.
In fact, if you're looking for a nice weekend drive, come up the New Jersey side on Route 29 from Trenton, so you can cross the bridge a couple of times for fun.
(It's no longer a toll bridge - the much-more trafficked spans on the Delaware provide the money for upkeep. And the speed limit is just 15 mph.)
As you might imagine, Riegelsville, with just 864 residents and 403 housing units, is not a hotbed of real estate activity.
"Not a lot of houses, only 380 families, no new construction to speak of," says Dolski.
In the 1960s, Riegelsville annexed about 300 undeveloped acres that officials believe is key to growth here.
At the same time, the borough is acquiring land to keep as open space. That includes 17 acres obtained a few years ago from a trust overseen by St. Lawrence Church for use as open space and eventually as a trail between Spring Hill Road and Fern Road to the south.
Borough officials might call Riegelsville Bucks County's best-kept secret, but it's on the main roads: Route 611, which connects with both the Pennsylvania Turnpike heading south and Interstate 78 heading north to Easton.
Borough Park is adjacent to the Delaware Canal trail along the Pennsylvania side of the river.
It was the canal, in fact, that gave Riegelsville its start as a manufacturing town, and stone foundations of some long-gone factories are in the woods near the trail.
"You are closer to the Lehigh Valley than to Philadelphia, and that is a fast-growing area, especially where employment is concerned," Dolski says.
Children here attend the Palisades School District in Bucks County, the result of several years of effort by parents to opt out of Easton Area School District.
In all 2015, there were just 12 homes sold in Riegelsville, although since November six have gone to settlement, real estate data show.
The average price in 2015 was $192,052, which Dolski says represented a decline of 26 percent from the average of $258,000 in 2014, when 10 houses went to settlement.
"You have to understand that 12 houses isn't much of a sample on which to judge settled prices," he notes.
Average price for the six houses that closed since November was $197,583, with a median price of $230,000 (half sold for more, half for less).
Average days on market have declined substantially here, from 181 in 2014 to 97 in 2015, a drop of 47 percent. To Dolski, that indicates "sellers are pricing their houses more aggressively, if selling time has fallen that much in a year."
Of the 11 houses currently for sale, the average list price is $388,645, he says.
Those homes include one not too far from the Riegelsville Inn listed for $425,000. It was built in 1990 but redesigned to take advantage of views of the Delaware.
There are ranchers and Colonial-style houses, and a brick twin for sale for less than $200,000.
Benjamin Riegel's house on Delaware Road, which is privately owned, is on the National Register of Historic Places. Houses built for executives of Riegel Paper Co. in the mid- to late 19th century make up Mansions Row along Easton Road. Most have been restored and are worth a visit.
Combine that with a visit to the 26th annual Fall Rollout Car Show on Nov. 6, which raises funds for a host of local organizations, including the fire company, the emergency medical service, and the library.
215-854-2472 @alheavens