Is Reading, MI a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since Last Month
Since last month, 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, MI
How much do homes in Reading, MI cost?
Median Sold Price
$88,750
$87/sqft
Based on all homes sold in March 2024.
Difference Since Last Month
Key Takeaway
Homes in Reading have sold for 8.2% more than they did a month ago.
Summary: The median home sold price in Reading was $88,750 in March 2024, up 8.2% from last month, and the median price per square foot was $87.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | - | N/A |
| 2 Bedrooms | $101.5K | $112.5K | +10.8% |
| 3 Bedrooms | $61.5K | $65K | +5.7% |
| 4 Bedrooms | - | - | N/A |
| 5+ Bedrooms | - | - | N/A |
Summary: Reading housing prices by bedroom type for March 2024 compared to the previous month: The home price of 1 bedroom homes did not change, 2 bedroom homes increased by 10.8%, 3 bedroom homes increased by 5.7%, 4 bedroom homes did not change, and 5+ bedroom homes did not change.
Housing Supply in Reading, MI
How many homes are available in Reading, MI?
Number of Homes For Sale
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 13 | 14 | +7.7% |
Summary: The Reading real estate market had 14 homes for sale in March 2024, a 7.7% increase compared to February 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 0 | 0 | 0.0% |
| 2 Bedrooms | 3 | 1 | -66.7% |
| 3 Bedrooms | 7 | 7 | 0.0% |
| 4 Bedrooms | 3 | 6 | +100.0% |
| 5+ Bedrooms | 0 | 0 | 0.0% |
Summary: The Reading housing inventory by bedroom type for March 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes decreased by 66.7%, 3 bedroom homes remained the same, 4 bedroom homes increased by 100%, and 5+ bedroom homes remained the same.
Number of Homes Sold
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 4 | 4 | 0.0% |
Asking Price vs. Sold Price
3 Homes Were Sold
Under Asking
1 Home Was Sold
At Asking
0 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Reading, you may be able to get a good deal. 75% of homes here sold below asking price last month.
Summary: A total of 4 homes were sold or pending in Reading in March 2024, the same as the previous month. Of the 4 sold homes, 75% were sold under asking, 25% were sold at asking, and 0% were sold over asking.
Days on Market for Reading, MI
How long does it take to sell a home in Reading, MI?
Average Sale Time
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 149 Days | 65 Days | -56.4% |
Summary: Homes in Reading had an average of 65 days on market in Mar 2024, down by 56.4% compared to last month.
Breakdown of Home Sale Times
1 Home Was Sold
Under 30 Days
2 Homes Were Sold
In 30 - 90 Days
1 Home Was Sold
Over 90 Days
Key Takeaway
Avg time on Rocket Homes in Reading has remained consistent over time.
Summary: During March 2024, 4 homes were sold in Reading; 25% of homes were sold within 30 days, 50% of homes were sold within 30 to 90 days, and 25% of homes were sold over 90 days.
