Is Reading, MA a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since April 2023
Since last year, Reading has remained a Seller's Market.
Key Takeaway
Reading is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Reading, MA
How much do homes in Reading, MA cost?
Median Sold Price
$803,000
$425/sqft
Based on all homes sold in the last 12 months.
Difference Since April 2023
Key Takeaway
Homes in Reading have sold for 4.8% more than they did a year ago.
Summary: The median home sold price in Reading was $803,000 in April 2024, up 4.8% from last year, and the median price per square foot was $425.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $428.7K | $416.2K | -2.9% |
| 2 Bedrooms | $545K | $639.9K | +17.4% |
| 3 Bedrooms | $750K | $791.5K | +5.5% |
| 4 Bedrooms | $1.0M | $930K | -8.4% |
| 5+ Bedrooms | $955K | $1.2M | +28.8% |
Summary: Reading housing prices by bedroom type for April 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 2.9%, 2 bedroom homes increased by 17.4%, 3 bedroom homes increased by 5.5%, 4 bedroom homes decreased by 8.4%, and 5+ bedroom homes increased by 28.8%.
Median Sold Price Compared To Nearby Cities
| Wakefield | $679.9K | $725K | +6.6% |
| Reading | $766K | $803K | +4.8% |
| Lynnfield | $900K | $940K | +4.4% |
| Wilmington | $674.1K | $700K | +3.8% |
| North Reading | $682.5K | $705K | +3.3% |
Housing Supply in Reading, MA
How many homes are available in Reading, MA?
Number of Homes For Sale
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 71 | 82 | +15.5% |
Summary: The Reading real estate market had 82 homes for sale in April 2024, a 15.5% increase compared to March 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 5 | 7 | +40.0% |
| 2 Bedrooms | 17 | 19 | +11.8% |
| 3 Bedrooms | 26 | 25 | -3.8% |
| 4 Bedrooms | 15 | 22 | +46.7% |
| 5+ Bedrooms | 8 | 9 | +12.5% |
Summary: The Reading housing inventory by bedroom type for April 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 40%, 2 bedroom homes increased by 11.8%, 3 bedroom homes decreased by 3.8%, 4 bedroom homes increased by 46.7%, and 5+ bedroom homes increased by 12.5%.
Number of Homes Sold
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 15 | 26 | +73.3% |
Asking Price vs. Sold Price
8 Homes Were Sold
Under Asking
1 Home Was Sold
At Asking
17 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Reading, you could pay more than the asking price. 65.4% of homes here sold above asking price last month.
Summary: A total of 26 homes were sold or pending in Reading in April 2024, up by 73.3% month-over-month. Of the 26 sold homes, 31% were sold under asking, 4% were sold at asking, and 65% were sold over asking.
Days on Market for Reading, MA
How long does it take to sell a home in Reading, MA?
Average Sale Time
| Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|
| 31 Days | 28 Days | -10.7% |
Summary: Homes in Reading had an average of 28 days on market in Apr 2024, down by 10.7% compared to last year.
Breakdown of Home Sale Times
20 Homes Were Sold
Under 30 Days
4 Homes Were Sold
In 30 - 90 Days
2 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Reading are selling fast, if you're buying plan to act quickly.
Summary: During April 2024, 26 homes were sold in Reading; 77% of homes were sold within 30 days, 15% of homes were sold within 30 to 90 days, and 8% of homes were sold over 90 days.
