Is Northwest Reading, PA 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, Northwest Reading has remained a Seller's Market.
Housing Prices in Northwest Reading, PA
How much do homes in Northwest Reading, PA cost?
Median Sold Price
$157,000
$93/sqft
Based on all homes sold in the last 12 months.
Difference Since April 2023
Summary: The median home sold price in Northwest Reading was $157,000 in April 2024, up 17.2% from last year, and the median price per square foot was $93.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | Apr 2023 | Apr 2024 | CHANGE |
---|---|---|---|
1 Bedroom | - | - | N/A |
2 Bedrooms | $94K | $120K | +27.7% |
3 Bedrooms | $125K | $157K | +25.6% |
4 Bedrooms | $130K | $150K | +15.4% |
5+ Bedrooms | $143.5K | $165K | +15.0% |
Summary: Northwest Reading housing prices by bedroom type for April 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes increased by 27.7%, 3 bedroom homes increased by 25.6%, 4 bedroom homes increased by 15.4%, and 5+ bedroom homes increased by 15%.
Median Sold Price Compared To Nearby Neighborhoods
Queen Anne Historic District | $125.4K | $150K | +19.6% |
Northwest Reading | $134K | $157K | +17.2% |
Centre Park Historic District | $143K | $160K | +11.9% |
Northmont | $167.5K | $183.5K | +9.6% |
Housing Supply in Northwest Reading, PA
How many homes are available in Northwest Reading, PA?
Number of Homes For Sale
Mar 2024 | Apr 2024 | CHANGE |
---|---|---|
51 | 43 | -15.7% |
Summary: The Northwest Reading real estate market had 43 homes for sale in April 2024, a 15.7% decrease compared to March 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Mar 2024 | Apr 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 0 | 0 | 0.0% |
2 Bedrooms | 1 | 1 | 0.0% |
3 Bedrooms | 10 | 7 | -30.0% |
4 Bedrooms | 11 | 8 | -27.3% |
5+ Bedrooms | 29 | 27 | -6.9% |
Summary: The Northwest Reading housing inventory by bedroom type for April 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes remained the same, 3 bedroom homes decreased by 30%, 4 bedroom homes decreased by 27.3%, and 5+ bedroom homes decreased by 6.9%.
Number of Homes Sold
Mar 2024 | Apr 2024 | CHANGE |
---|---|---|
15 | 11 | -26.7% |
Asking Price vs. Sold Price
3 Homes Were Sold
Under Asking
3 Homes Were Sold
At Asking
5 Homes Were Sold
Over Asking
Summary: A total of 11 homes were sold or pending in Northwest Reading in April 2024, down by 26.7% month-over-month. Of the 11 sold homes, 27% were sold under asking, 27% were sold at asking, and 45% were sold over asking.
Days on Market for Northwest Reading, PA
How long does it take to sell a home in Northwest Reading, PA?
Average Sale Time
Apr 2023 | Apr 2024 | CHANGE |
---|---|---|
31 Days | 24 Days | -22.2% |
Summary: Homes in Northwest Reading had an average of 24 days on market in Apr 2024, down by 22.2% compared to last year.
Breakdown of Home Sale Times
8 Homes Were Sold
Under 30 Days
2 Homes Were Sold
In 30 - 90 Days
1 Home Was Sold
Over 90 Days
Summary: During April 2024, 11 homes were sold in Northwest Reading; 73% of homes were sold within 30 days, 18% of homes were sold within 30 to 90 days, and 9% of homes were sold over 90 days.