Is 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, 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
$800,016
$423/sqft
Based on all homes sold in the last 12 months.
Difference Since March 2023
Key Takeaway
Homes in Reading have sold for 4.2% more than they did a year ago.
Summary: The median home sold price in Reading was $800,016 in March 2024, up 4.2% from last year, and the median price per square foot was $423.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $426.2K | $390K | -8.5% |
| 2 Bedrooms | $542.5K | $630K | +16.1% |
| 3 Bedrooms | $750K | $783K | +4.4% |
| 4 Bedrooms | $962.5K | $912.5K | -5.2% |
| 5+ Bedrooms | $1.0M | $1.2M | +14.3% |
Summary: Reading housing prices by bedroom type for March 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 8.5%, 2 bedroom homes increased by 16.1%, 3 bedroom homes increased by 4.4%, 4 bedroom homes decreased by 5.2%, and 5+ bedroom homes increased by 14.3%.
Median Sold Price Compared To Nearby Cities
| Wakefield | $675K | $715K | +5.9% |
| 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 Reading, MA
How many homes are available in Reading, MA?
Number of Homes For Sale
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 53 | 65 | +22.6% |
Summary: The Reading real estate market had 65 homes for sale in March 2024, a 22.6% increase compared to February 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 3 | 5 | +66.7% |
| 2 Bedrooms | 11 | 16 | +45.5% |
| 3 Bedrooms | 20 | 26 | +30.0% |
| 4 Bedrooms | 13 | 12 | -7.7% |
| 5+ Bedrooms | 6 | 6 | 0.0% |
Summary: The Reading housing inventory by bedroom type for March 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 66.7%, 2 bedroom homes increased by 45.5%, 3 bedroom homes increased by 30%, 4 bedroom homes decreased by 7.7%, and 5+ bedroom homes remained the same.
Number of Homes Sold
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 13 | 14 | +7.7% |
Asking Price vs. Sold Price
5 Homes Were Sold
Under Asking
2 Homes Were Sold
At Asking
7 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Reading, you could pay more than the asking price. 50% of homes here sold above asking price last month.
Summary: A total of 14 homes were sold or pending in Reading in March 2024, up by 7.7% month-over-month. Of the 14 sold homes, 36% were sold under asking, 14% were sold at asking, and 50% 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
| Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|
| 56 Days | 34 Days | -38.9% |
Summary: Homes in Reading had an average of 34 days on market in Mar 2024, down by 38.9% compared to last year.
Breakdown of Home Sale Times
8 Homes Were Sold
Under 30 Days
5 Homes Were Sold
In 30 - 90 Days
1 Home Was Sold
Over 90 Days
Key Takeaway
Many homes in Reading are selling fast, if you're buying plan to act quickly.
Summary: During March 2024, 14 homes were sold in Reading; 57% of homes were sold within 30 days, 36% of homes were sold within 30 to 90 days, and 7% of homes were sold over 90 days.
