1:
                     U.S. SECURITIES AND EXCHANGE COMMISSION
                           Washington, DC  20549

                                FORM 10-QSB


[X] QUARTERLY REPORT UNDER SECTION 13 OR 15(d) OF THE SECURITIES
                     EXCHANGE ACT OF 1934
      For the quarterly period ended April 30, 2001.

[ ] TRANSITION REPORT UNDER SECTION 13 OR 15(d) OF THE SECURITIES
                     EXCHANGE ACT OF 1934

      For the transition period from ........... to ...........

                 Commission File No. 33-85102-01

                  SEVEN FIELDS DEVELOPMENT (PA), INC.
         (Name of small business issuer in its charter)

     PENNSYLVANIA                           25-1752570
(State of Incorporation)     (I.R.S. Employer Identification No.)

  2200 Garden Drive, Suite 200, Seven Fields, PA  16046-7846
           (Address of principal executive office with Zip Code)

                 Issuer's telephone number (724) 776-5070

Check whether the issuer (1) has filed all reports required to be
filed by Sections 13 or 15(d) of the Exchange Act during the
preceding 12 months (or for such shorter period that the
registrant was required to file such reports), and (2) has been
subject to such filing requirements for the past 90 days.

  Yes  XX            No ____

                   APPLICABLE ONLY TO CORPORATE ISSUERS

     State the number of shares outstanding of each of the
issuer's classes of common equity, as of the latest practicable
date:
     As of April 30, 2001 there were 2,905,514 shares of the
         issuer's $1.00 par value common stock outstanding.
                                Transitional Small Business
Disclosure Format
  Yes ____           No  XX
      SEVEN FIELDS DEVELOPMENT (PA), INC. AND SUBSIDIARIES


                       Form 10-QSB


The following financial information is provided in response to
Items 1 and 2 of Form 10-QSB.

Item I  -  Financial Statements






<PAGE>
           SEVEN FIELDS DEVELOPMENT (PA), INC. AND SUBSIDIARIES
            CONSOLIDATED STATEMENT OF NET ASSETS IN LIQUIDATION
                AS OF APRIL 30, 2001 AND OCTOBER 31, 2000

                                 ASSETS
   <TABLE>


          2001            2000
<S>
      <C>              <C>
Cash
    $    37,821   $     12,380
Temporary investments                                  2,133,762
   1,859,367
  Total Cash & Temporary Investments    $ 2,171,583   $ 1,871,747

Accounts and notes receivable, net of
  allowances of $12,268
21,372        641,426
Capitalized development costs
       3,304,043
Capitalized house construction costs,
   4,706,445
Prepaid expenses and deposits
        259,709
Property not currently under
  development
2,075,027      2,355,000

Property, Buildings &
  Equipment
Equipment and furnishings
        $   459,573
Accumulated Depreciation
             (324,290)

  Total Property, Buildings and
    Equipment, Net of Accumulated
      Depreciation
___________    $   135,283


      Total Assets                                               $
4,267,982    $13,273,653
</TABLE>
[FN]




               See Notes To Financial Statements
<PAGE>






       SEVEN FIELDS DEVELOPMENT (PA), INC. AND SUBSIDIARIES
             STATEMENT OF NET ASSETS IN LIQUIDATION
           AS OF APRIL 30, 2001 AND OCTOBER 31, 2000

             LIABILITIES AND NET ASSETS IN LIQUIDATION
                          LIABILITIES


<TABLE>
 <CAPTION>

     2001           2000
<S>
 <C>             <C>
Accrued estimated cost of liquidation     $  760,000  $   760,000
Accounts payable and accrued expenses  126,715       400,466
Accrued estimated costs related to
  developed lots and buildings sold             839,969
1,599,719
Mortgages payable
                55,000
Customer deposits and advances
266,728
General unsecured subordinated debt -
  minority investors
432,215    1,734,094


  Total Liabilities
$2,158,899  $ 4,816,007

  Net Assets in Liquidation                        $2,109,083  $
8,457,646

</TABLE>
 [FN]










               See Notes to Financial Statements

<PAGE>






          SEVEN FIELDS DEVELOPMENT (PA), INC. AND SUBSIDIARIES
       CONSOLIDATED STATEMENT OF OPERATIONS (GOING CONCERN BASIS)
                FOR THE THREE MONTHS ENDED APRIL 30, 2000


      2001
Gross Revenue
Rental income                                              $
14,500
Fees & other operating income                          6,967
Developed lot and house sales                    1,911,703
                                                                 $
1,933,170
Costs & Expenses
Cost of Developed Lots &
  Houses Sold                                             $
1,718,673

Cost of Water Assets &
  Office Building Sold                                    $
11,205

Other Operating Expenses*                        $     92,878

General & Administrative Expenses*        $    239,683

Depreciation Expense                                  $      16,597


     Operating Income (Loss)                       $   (145,866)



Interest Expense*
(16)
Interest Income                                             $
16,783

Loss Before Provision
   for Income Taxes                                       $
(129,099)

Provision for Income Taxes                        $     (5,376)

Net Loss                                                         $
 (134,475)

Net Income Per Share,
  Basic and Fully Diluted
  (.04)

Weighted Average Number of shares          2,905,514

* See details on following page.

               See Notes to Financial Statements
 <PAGE>
         SEVEN FIELDS DEVELOPMENT (PA), INC. AND SUBSIDIARIES
       CONSOLIDATED STATEMENT OF OPERATIONS (GOING CONCERN BASIS)
                  DETAILS OF OTHER OPERATING EXPENSES,
        GENERAL AND ADMINISTRATIVE EXPENSES, AND INTEREST EXPENSE
               FOR THE THREE MONTHS ENDED APRIL 30, 2000


Other Operating Expenses
Payroll, payroll taxes and benefits         $     155,458
Repairs & maintenance                                    50,067
                                                              5,240
Insurance
  25,050
Property taxes
  2,700
Other operating supplies & services              14,121

Total Other Operating Expenses            $     252,636

  Less Costs Capitalized To
  Development and House Construction    (159,758)

      Net Operating Expenses                     $      92,878

General And Administrative Expenses
Payroll, payroll taxes and benefits         $     105,247
Professional fees
32,978
Other general and administrative
  expenses
113,458
Total General and Administrative
 Expenses                                                   $
251,683

  Less Costs Capitalized To
    Development and Construction                  (12,000)

  Net General and Administrative
      Expenses                                              $
239,683

Interest Expense
  Total Interest Expense                            $       1,216

  Less Interest Capitalized to
    Development and House
    Construction
(1,200)
  Net Interest Expense                              $          16

[FN]
                    See Notes to Financial Statements
<PAGE>
         SEVEN FIELDS DEVELOPMENT (PA), INC. AND SUBSIDIARIES
 CONSOLIDATED STATEMENTS OF CHANGES IN NET ASSETS IN LIQUIDATION
     FOR THE THREE AND SIX MONTH PERIODS ENDED APRIL 30, 2001
<TABLE>
         <CAPTION>
                                                              Three
              Six

Months             Months
        <C>
<S>                   <S>
Net Assets in Liquidation,
  Beginning Balance                         $   6,525,477    $
8,457,646

Capitalized development & house
  construction costs incurred           $       1,820        $
1,319,145

Cost of lots and houses sold
  (9,609,606)

Payments on Accounts Receivable        (4,993)
(620,054)

Cost of equipment, furnishings
  & prepaid items sold
             (394,992)

Transfer & reduction of liabilities
  and customer deposits                        278,285
1,026,478

Payoff of remaining mortgage
          55,000

Normal changes in accounts payable and
   accrued expenses                                 (17,266)
         273,751

    299,836

Distribution to shareholders                   905,655
 1,301,879

  Return of capital distribution
    to shareholders                             $  (4,416,394)
 $  (6,348,563)

Net Assets in Liquidation,
  April 30, 2001                                    $   2,109,083
     $   2,109,083

</TABLE>
         [FN]

                     See Note To Financial Statements
         <PAGE>
                       SEVEN FIELDS DEVELOPMENT (PA), INC. AND
SUBSIDIARIES
                  CONSOLIDATED STATEMENT OF CASH FLOW
               FOR THE SIX MONTHS ENDED APRIL 30, 2000

Cash Flows From Operating Activities:
Net income
$   757,288
              505,288
                                                          45,247
  (1,122,273)
Capitalized house construction
 costs incurred
(4,234,802)
Cost of lots & houses sold                                4,394,219

Changes in other assets & liabilities:
 Other assets
    (306,468)
                                                  (175,259)
Net Cash Flows Used In
Operating Activities                                           $
(136,760)

Cash Flows From Investing Activities:
Additions to property, buildings and
equipment
$   (50,207)
Payments on notes receivable                              121,348

Sale of property, buildings & equipment           1,306,157
Total Cash Flows Provided By
Investing Activities                                            $
1,377,298

Cash Flows From Financing Activities:
Repayment of investor debt                              $
(169,811)
Return of capital distribution
(828,074)
Repayments of existing mortgages                    (866,970)
Total Cash Flows Used In
  Financing Activities
$(1,864,855)

Net Decrease in Cash and
 Temporary Investments                                     $
(624,317)
Cash & Temporary Investments,
 Beginning of Period                                           $
1,252,305
Cash & Temporary Investments,
 End of Period
  $   627,988

Interest Expense Included in Net
 Income Above
$        16
         Interest Paid & Included in Capitalized
 Development & House Construction Costs          7,792
    Total Interest Paid
$     7,808

[FN]
                    See Notes to Financial Statements
<PAGE>


          SEVEN FIELDS DEVELOPMENT (PA), INC. AND SUBSIDIARIES
              CONSOLIDATED STATEMENT OF RETAINED EARNINGS
                FOR THE SIX MONTHS ENDED APRIL 30, 2000


Retained earnings - beginning                             $
7,009,192

Net income for the six months ended April 30             757,288

Retained earnings - ending                                    $
7,766,480

<PAGE>




































          SEVEN FIELDS DEVELOPMENT (PA), INC. AND SUBSIDIARIES
       CONSOLIDATED STATEMENT OF OPERATIONS (GOING CONCERN BASIS)
                FOR THE SIX MONTHS ENDED APRIL 30, 2000


     2000
Gross Revenue
Rental income                                       $     30,798
Fees & other operating income                     7,980
Water revenue                                               6,259
Developed lot & house sales                  5,101,030
Sale of water assets & office building   2,700,000
                                                            $
7,846,067
Costs & Expenses
Cost of Developed Lots &
  Houses Sold                                              $
4,534,490

Cost of Water Assets &
  Office Building Sold                                   $
1,323,369

Other Operating Expenses*                       $    208,026

General & Administrative Expenses*       $    519,574

Depreciation Expense                                 $     45,247


     Operating Income                                    $
1,215,361

Interest Expense*                                             (16)

Interest Income                                             $
47,231

Income Before Provision
   for Income Taxes                                       $
1,262,576
        Provision for Income Taxes                        $
(505,288)

Net Income                                                    $
757,288

Net Income Per Share,
  Basic and Fully Diluted                                    .22

Weighted Average Number of shares             2,905,514

[FN]
* See details on following page.



                    See Notes to Financial Statements
<PAGE>




         SEVEN FIELDS DEVELOPMENT (PA), INC. AND SUBSIDIARIES
       CONSOLIDATED STATEMENT OF OPERATIONS (GOING CONCERN BASIS)
                  DETAILS OF OTHER OPERATING EXPENSES,
        GENERAL AND ADMINISTRATIVE EXPENSES, AND INTEREST EXPENSE
            FOR THE SIX MONTHS ENDED APRIL 30, 2000


2000
Other Operating Expenses
Payroll, payroll taxes and benefits     $ 324,729
Repairs & maintenance                            92,174
Utilities
14,462
Insurance                                                    50,100
Property taxes                                               6,215
Other operating supplies & services      28,631

Total Other Operating Expenses          $ 516,311

  Less Costs Capitalized To
 Development and House Construction   (308,285)

      Net Operating Expenses                  $ 208,026

General And Administrative Expenses
Payroll, payroll taxes and benefits        $ 238,144
Professional fees                                          93,635

Other general and administrative
  expenses
211,795
        Total General and Administrative
  Expenses                                                $ 543,574

  Less Costs Capitalized To
    Development and Construction          (24,000)

  Net General and Administrative
      Expenses                                          $ 519,574

Interest Expense
  Total Interest Expense                          $   7,808

  Less Interest Capitalized to
    Development and House
    Construction                                            (7,792)

  Net Interest Expense                            $      16

[FN]

                    See Notes to Financial Statements
<PAGE>

                    SEVEN FIELDS DEVELOPMENT (PA), INC.
                NOTES TO CONSOLIDATED FINANCIAL STATEMENTS
           FOR THE SIX MONTHS ENDED APRIL 30, 2001 AND 2000

Basis of Presentation

The financial statements included herein have been prepared by the
Registrant, without audit, for filing with the Securities and
Exchange
Commission pursuant to the rules and regulations of said
commission. The
financial information presented herein, while not necessarily
indicative
of results to be expected for the year, reflects adjustments
comprising
normal recurring accruals which in the opinion of the Registrant
are
necessary for the fair statement of the results for the periods
indicated. This financial information should be read in conjunction
with
financial statements and notes thereto included in the Registrant's
Annual Report for the two years in the period ended October 31,
2000.

For comparative purposes certain 2000 amounts have been
reclassified to
conform to the presentation adopted in 2001.

Note 1 Business And Operations

The Company's major activities prior to January 2, 2001 were the
development of its undeveloped property located in Seven Fields
Borough,
Butler County, PA, and prior to November 1999 the operation of the
municipal water service in Seven Fields Borough.  Prior to January
1998,
the Company also rented townhouses located in Seven Fields Borough.
Since 1987, the Company sold these townhouses as individual
residences
and in January 1998 sold the remaining 65 townhouses in a bulk
sale.  All
of these activities focus on the single goal of maximizing the
assets of
the Company and ultimately distributing such assets to its
Investors in
complete liquidation at the earliest appropriate time.
Since the bankruptcy Reorganization in 1987, the Company has sold
four
rental properties, repaid five million dollars of debt other than
Company
Debt, and returned approximately $24 million to its Investors.

Liquidation Plan

On January 2, 2001 the Company consummated the sale of all of its
remaining residential properties at Seven Fields, Butler County,
Pennsylvania and Nevillewood, Allegheny County, Pennsylvania to
Hanna
Holdings, Inc. ("HANNA").

Effective January 2, 2001, with the consummation of the sale of its
residential real estate assets to HANNA, the Company ceased





                    SEVEN FIELDS DEVELOPMENT (PA), INC.
                NOTES TO CONSOLIDATED FINANCIAL STATEMENTS
           FOR THE SIX MONTHS ENDED APRIL 30, 2001 AND 2000

Note One (Continued)

all operating activities.  All of its employees except certain
officers
and board members terminated their employment with the Company.
All
former employees of the Company were offered employment with HANNA
at the
time of this sale.

The above described sale of these remaining residential realty
assets
effectively concludes thirteen years of development, construction,
and
disposal followed by repayment to the Company's debtholders and
shareholders with the proceeds of such sales.

With the conclusion of this sale the Company's principal assets
consist
of cash and temporary investments which it intends except for
amounts
required to be withheld for meeting its other liabilities and the
estimated expenses of liquidation and dissolution, to distribute to
the
holders of its general
unsecured debt and common stock, and two remaining commercial
parcels
that it expects to sell during 2001.

The Plan Of Reorganization And The Company Subsequent to November
7, 1987


The following summary of the Plan applies to Seven Fields PA's
operating
subsidiary, the Trust, and not to the capital structure of Seven
Fields
PA, since the reorganization which was consummated in 1995 resulted
in
the exchange of 83% of the Investor Debt and Stock for common stock
of
Seven Fields PA.

The Plan on November 7, 1987, transferred 100% ownership of the
Debtors
from the four former stockholders to the more than 2,600 Investors,
merged the four debtors into the surviving corporation, removed the
former shareholders from involvement in the management or ownership
of
the reorganized company, and required the repayment in full of all
debt,
secured and unsecured, to creditors on the same terms as agreements
then
in existence.  The Plan also, despite assets with a fair market
value far
less than the obligation of the Company to the Investors, did not
reduce
the face amount of the Company's obligation to those Investors.
The
liability to the Investors, representing 95% of the Investors'
claims,
remained a general unsecured debt of the Company and the Company
waived
discharge of such debt.  These non-discharged debts are
subordinated to
any existing liens and priorities and any future secured debt, and
the
claimant-creditor, his heirs, assigns or successors, may not file
suit or
take any judgement, or undertake any collection activities.



                    SEVEN FIELDS DEVELOPMENT (PA), INC.
                NOTES TO CONSOLIDATED FINANCIAL STATEMENTS
           FOR THE SIX MONTHS ENDED APRIL 30, 2001 AND 2000

Note One (Continued)

The general, unsecured debt issued to the Investors bears no
interest and
is subordinate to existing and future secured debt.  As indicated
above,
the Plan specified that this debt would be paid as soon as
possible.  The
repayment of this debt, subsequent to the reorganization in 1995,
occurs
at the Trust level, which requires the Trust to make all such
repayments
of the Investor Debt on a pro-rata basis to all of the debt
holders.
Seven Fields PA, through its subsidiary Seven Fields DEL, holds the
debt
interest of those investors who accepted the exchange offer (83%).
As a
result of maintaining this intercompany debt structure, as
repayments of
the Debt are made by the Trust to Seven Fields PA, Seven Fields PA
intends to distribute such amounts to its shareholders as return of
capital distributions.  As repayment of Investor Debt occurs at the
Trust
level, 83% of such repayments will be made to Seven Fields PA, so
that on
a consolidated basis, for every $100 distribution, $17 will
represent a
repayment of Investor Debt and $83 will represent a return of
capital
distribution to the common stockholders of the Company.

Since, at October 31, 2000, the Company could reasonably estimate
the
funds that will be available to distribute to the debt holders, the
Company reduced its general unsecured debt by $6,805,356 to
$1,734,094 in
accordance with its adoption of the liquidation basis of accounting
at
October 31, 2000.  As a result of this adjustment to reduce the
general
unsecured debt to the amount estimated to be paid on such debt, the
Company has increased its shareholder equity by $6,805,356 to
$8,457,646,
the amount that the Company's management believes will be
distributed to
the Company's shareholders prior to liquidation and dissolution.
With
the adoption of liquidation accounting at October 31, 2000,
shareholders'
equity is renamed net assets in liquidation and adjustments to net
assets
in liquidation are recorded to reflect conversion of assets and
liabilities on a going concern basis of accounting (primarily
historic
cost) to net assets in liquidation (primarily the fair market value
of
assets and the amounts at which liabilities are estimated to be
settled).












          SEVEN FIELDS DEVELOPMENT (PA), INC. AND SUBSIDIARIES
               NOTES TO CONSOLIDATED FINANCIAL STATEMENTS
            FOR THE SIX MONTHS ENDED APRIL 30, 2001 AND 2000


Note 2 Summary of Significant Accounting Policies

As a result of the imminency of complete liquidation, the Company
adopted
the liquidation basis of accounting effective October 31, 2000.
This
basis of accounting is considered appropriate when, among other
things,
liquidation of a company seems imminent and the net realizable
value of
assets are reasonably determinable.  Under this basis of
accounting,
assets are valued at their estimated net realizable values and
liabilities are valued at their estimated settlement amounts. The
conversion from the going concern to liquidation basis accounting
has
required management to make significant estimates and judgements.
In
order to record assets at estimated net realizable values and
liabilities
at estimated settlement amounts under liquidation basis accounting
on
October 31, 2000, the Company recorded the following adjustments
(1)
recorded estimated net profit from the sale of the remaining
residential
real estate to HANNA and the two remaining commercial parcels in
the
amount of $476,054, (2) recorded the estimated cost of liquidation
and
dissolution in the amount of $760,000, (3) recorded a net reduction
in
the Company's general unsecured debt of $6,805,356 to reflect the
total
residual amount of funds available for final repayment of such
debt.

Additionally, during the fiscal years preceding the adoption of
liquidation basis accounting, the Company has attempted to estimate
and
accrue for obligations related to its responsibilities to various
governmental agencies and others relating to its activities as a
developer and home builder.

On December 15, 2000, the Company distributed $2,328,393 to
debtholders
and shareholders and on February 9, 2001, an additional $5,322,040
was
distributed.  The latter amount represents substantially all of the
proceeds from the HANNA transaction, except those amounts necessary
to
fund its obligations during the liquidation period.

The amount and timing of any future distributions on the debt and
stock
subsequent to the distribution of most of the HANNA proceeds will
depend
upon a variety of factors including, but not limited to the actual
proceeds from the sale of the two remaining commercial parcels and
any
other net assets, the ultimate settlement amount of the Company's
liabilities and obligations, and the actual costs incurred in
connection
with carrying outthe plan of liquidation.







          SEVEN FIELDS DEVELOPMENT (PA), INC. AND SUBSIDIARIES
               NOTES TO CONSOLIDATED FINANCIAL STATEMENTS
                       FOR THE SIX MONTHS ENDED APRIL 30, 2001 AND
2000


Note 2 Continued


It is possible, that at some date before the liquidation plan has
been
completed that the Company will form a liquidating trust and the
remaining net assets will be transferred to the trust so as to more
efficiently facilitate the plan of liquidation.  If such a
liquidating
trust is utilized any assets remaining at the conclusion of the
liquidation plan would be distributed by the trust as a final
payment on
the balance of the general unsecured debt, and as a final return of
capital to the Company's stockholders.

Principles of Consolidation

The consolidated financial statements include Seven Fields PA,
Seven
Fields DEL, Seven Fields Management, Inc., and Seven Fields
Development
Company.  Inter company accounts and transactions are eliminated in
the
consolidated financial statements.

Use of Estimates

The presentation of the Company's financial statements requires
management to make estimates and assumptions that affect the
amounts
reported at the date of the financial statements for assets,
liabilities,
revenues and expenses and disclosures of contingencies.  Actual
results
could differ from those estimates.  The Company makes significant
estimates related to common area development costs that it expects
to
incur in the future, and costs to complete specific subdivision of
lots
from which lots are being sold.  In recording the liquidation
adjustments
upon adoption of liquidation accounting at October 31, 2000, the
Company's management made significant estimates related to the
disposition of the Company's remaining properties, settlements of
its
liabilities and the costs to be incurred upon dissolution.

Cash And Cash Equivalents (Cash And Temporary Investments)

For purposes of the statement of cash flows, the Company considers
all
highly liquid investments, not otherwise restricted, with a
maturity of
three months or less at the time of purchase to be cash
equivalents.





          SEVEN FIELDS DEVELOPMENT (PA), INC. AND SUBSIDIARIES
               NOTES TO CONSOLIDATED FINANCIAL STATEMENTS
           FOR THE SIX MONTHS ENDED APRIL 30, 2001 AND 2000

Note 2 Continued

Minority Interest

Seven Fields PA owns, through its subsidiary Seven Fields DEL, 83%
of the
outstanding shares of the Trust resulting in a 17% minority
interest.
Under generally accepted accounting principles, it is not
appropriate to
reflect a negative (i.e. a debit balance) minority interest in a
balance
sheet.  Therefore, in the balance sheet of Seven Fields PA there is
no
minority interest reflected because there is a capital deficiency
in the
Trust.  Similarly, there is no minority interest provision
reflected in
Seven Fields PA's statement of operations because of such capital
deficiency.  Although 17% of any future earnings of the Trust will
accrue
to the benefit of the minority shareholders of the Trust, no such
minority interest will be reflected in the statement of operations
so
long as the Trust continues to have capital deficiency, and as a
result a
negative minority interest.

Under the liquidation basis of accounting adopted by the Company at
October 31, 2000, a minority interest is also not reflected in the
statement of net assets in liquidation or the statement of changes
in net
assets in liquidation because although the general unsecured debt
is
reduced to the amount at which it is estimated by the Company's
management that it will be settled, the obligation by the Company
continues to exist to pay to the debt holders any funds that may
come
available in the future as the Company proceeds to the point of
complete
liquidation and dissolution.  Therefore, at the subsidiary (Trust)
level
if changes occur to management's liquidation adjustment estimates
during
the period subsequent to October 31, 2000, any such adjustments
will
adjust the settlement amount of the general unsecured debt prior to
adjusting net assets available for distributions to the Trust'
shareholders.  And because the size of this debt is so large, it is
clear
that there will never be sufficient net assets so as to create a
positive
net equity in the trust.

Earnings Per Share

Earnings per share have been calculated to exclude the effect of
the
earnings which accrue to the benefit of the minority shareholders,
although under generally accepted accounting principles such
minority
interests may not be reflected in the balance sheet or statement of
operations so long as the capital deficiency exists in the Trust.





          SEVEN FIELDS DEVELOPMENT (PA), INC. AND SUBSIDIARIES
               NOTES TO CONSOLIDATED FINANCIAL STATEMENTS
           FOR THE SIX MONTHS ENDED APRIL 30, 2001 AND 2000

The computation of earnings per share for the three months ended
April
30, 2000:



   Net Loss                                  $  (134,475)
   Less Net Loss Accruing to
     Minority Interest In Trust                   22,341

   Net Income (Loss) Applicable to
     Seven Fields PA Shareholders            $  (112,134)

   Weighted Average Shares Outstanding         2,905,514

   Earnings per Share, Basic and Diluted            (.04)


The computation of earnings per share for the six months ended
April 30,
2000:



   Net Income                                $   757,288
   Less Net Income Accruing to
     Minority Interest In Seven
     Fields Development Company                  125,812

   Net Income Applicable to
     Seven Fields PA Shareholders            $   631,476

   Weighted Average Shares Outstanding         2,905,514

   Earnings per Share, Basic and Diluted             .22













         SEVEN FIELDS DEVELOPMENT (PA), INC. AND SUBSIDIARIES
               NOTES TO CONSOLIDATED FINANCIAL STATEMENTS
        FOR THE SIX MONTH PERIOD ENDED APRIL 30, 2001 AND 2000


Part I - Item 2 Management Discussion and Analysis of Financial
Condition
and Results of Operations

Pursuant to an agreement signed in December, 1999, the sale to
Hanna
Holdings, Inc. occurred on January 2, 2001, generating gross
proceeds of
nearly $6.8 million.  Assets sold included the remaining
residential
developed lots for nearly $2.9 million, completed and under
construction
dwelling units at Seven Fields and Nevillewood for almost $3.6
million
and home construction equipment, plans, and prepaid expenses for
nearly
$300,000.  The Company paid Hanna Holdings, Inc. over $449,000 for
future
development liabilities associated with the lots purchased and
forwarded
almost $182,000 for customer deposits on lot and house agreements.
Additionally, selling costs associated with the transaction were
over
$87,000.  Therefore, net proceeds available from the transaction
were
approximately $6.1 million.

Pursuant to the same agreement, a 40 acre undeveloped parcel south
of
Route 228 was sold to Hanna Holdings, Inc. in December, 2000 for
$580,000
and a real estate sales center building was sold in the prior
fiscal year
for $425,000.

In December, 2000, the Company repaid over $2.3 million of general
unsecured debt and as a distribution on its shares, and in February
2001,
the Company repaid an additional $5.3 million.

Part II - Item 1     Legal Proceedings

None.
















         SEVEN FIELDS DEVELOPMENT (PA), INC. AND SUBSIDIARIES
               NOTES TO CONSOLIDATED FINANCIAL STATEMENTS
        FOR THE SIX MONTH PERIOD ENDED APRIL 30, 2001 AND 2000


Part II - OTHER INFORMATION

Item 6.       Exhibits and Other Reports on Form 8-K

    (a) Exhibits
              None

    (b) Reports on Form 8-K
              No reports on Form 8-K were filed during the  quarter
ended
April 30, 2001.




                                SIGNATURES


Pursuant to the requirements of the Securities Exchange Act of
1934, the
Registrant has duly caused this report to be signed on its behalf
by the
undersigned thereunto duly authorized.



                     Seven Fields Development(PA), Inc.



Date: June 11, 2001

By: PAUL VOYTIK, PRESIDENT
   Paul Voytik, President



Date:June 11, 2001

By: LYNN HOFFMAN-KYLE, CHIEF FINANCIAL OFFICER
   Lynn Hoffman-Kyle, Chief Financial Officer