Is North Reading, MA a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since March 2023
Since last year, North Reading has remained a Seller's Market.
Key Takeaway
North Reading is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in North Reading, MA
How much do homes in North Reading, MA cost?
Median Sold Price
$705,000
$401/sqft
Based on all homes sold in the last 12 months.
Difference Since March 2023
Key Takeaway
Homes in North Reading have sold for 2.7% more than they did a year ago.
Summary: The median home sold price in North Reading was $705,000 in March 2024, up 2.7% from last year, and the median price per square foot was $401.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $419.9K | $487.7K | +16.1% |
| 2 Bedrooms | $577K | $592.9K | +2.8% |
| 3 Bedrooms | $700K | $750K | +7.1% |
| 4 Bedrooms | $1.0M | $1.1M | +12.2% |
| 5+ Bedrooms | $1.1M | $1.4M | +29.0% |
Summary: North Reading housing prices by bedroom type for March 2024 compared to the previous year: The home price of 1 bedroom homes increased by 16.1%, 2 bedroom homes increased by 2.8%, 3 bedroom homes increased by 7.1%, 4 bedroom homes increased by 12.2%, and 5+ bedroom homes increased by 29%.
Median Sold Price Compared To Nearby Cities
| Middleton | $789.9K | $825K | +4.4% |
| Reading | $768K | $800K | +4.2% |
| Wilmington | $677K | $700K | +3.4% |
| North Reading | $686.1K | $705K | +2.7% |
| Lynnfield | $915K | $922.5K | +0.8% |
Housing Supply in North Reading, MA
How many homes are available in North Reading, MA?
Number of Homes For Sale
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 30 | 36 | +20.0% |
Summary: The North Reading real estate market had 36 homes for sale in March 2024, a 20.0% increase compared to February 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 6 | 7 | +16.7% |
| 2 Bedrooms | 10 | 11 | +10.0% |
| 3 Bedrooms | 6 | 10 | +66.7% |
| 4 Bedrooms | 6 | 5 | -16.7% |
| 5+ Bedrooms | 2 | 3 | +50.0% |
Summary: The North Reading housing inventory by bedroom type for March 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 16.7%, 2 bedroom homes increased by 10%, 3 bedroom homes increased by 66.7%, 4 bedroom homes decreased by 16.7%, and 5+ bedroom homes increased by 50%.
Number of Homes Sold
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 7 | 9 | +28.6% |
Asking Price vs. Sold Price
3 Homes Were Sold
Under Asking
0 Homes Were Sold
At Asking
6 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in North Reading, you could pay more than the asking price. 66.7% of homes here sold above asking price last month.
Summary: A total of 9 homes were sold or pending in North Reading in March 2024, up by 28.6% month-over-month. Of the 9 sold homes, 33% were sold under asking, 0% were sold at asking, and 67% were sold over asking.
Days on Market for North Reading, MA
How long does it take to sell a home in North Reading, MA?
Average Sale Time
| Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|
| 24 Days | 33 Days | +35.2% |
Summary: Homes in North Reading had an average of 33 days on market in Mar 2024, up by 35.2% compared to last year.
Breakdown of Home Sale Times
7 Homes Were Sold
Under 30 Days
1 Home Was Sold
In 30 - 90 Days
1 Home Was Sold
Over 90 Days
Key Takeaway
Many homes in North Reading are selling fast, if you're buying plan to act quickly.
Summary: During March 2024, 9 homes were sold in North Reading; 78% of homes were sold within 30 days, 11% of homes were sold within 30 to 90 days, and 11% of homes were sold over 90 days.
