Is Outlet District, 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, Outlet District has remained a Seller's Market.
Key Takeaway
Outlet District is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Outlet District, PA
How much do homes in Outlet District, PA cost?
Median Sold Price
$125,000
$98/sqft
Based on all homes sold in the last 12 months.
Difference Since April 2023
Key Takeaway
Homes in Outlet District have sold for 10.9% more than they did a year ago.
Summary: The median home sold price in Outlet District was $125,000 in April 2024, up 10.9% from last year, and the median price per square foot was $98.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | - | N/A |
| 2 Bedrooms | $65K | $100K | +53.8% |
| 3 Bedrooms | $89.9K | $120K | +33.5% |
| 4 Bedrooms | $120K | $132.5K | +10.4% |
| 5+ Bedrooms | $140K | $147.5K | +5.4% |
Summary: Outlet District 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 53.8%, 3 bedroom homes increased by 33.5%, 4 bedroom homes increased by 10.4%, and 5+ bedroom homes increased by 5.4%.
Median Sold Price Compared To Nearby Neighborhoods
| East Reading | $105K | $139.9K | +33.2% |
| Northwest Reading | $134K | $157K | +17.2% |
| Northeast Reading | $124.9K | $140K | +12.0% |
| Outlet District | $112.7K | $125K | +10.9% |
Housing Supply in Outlet District, PA
How many homes are available in Outlet District, PA?
Number of Homes For Sale
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 34 | 23 | -32.4% |
Summary: The Outlet District real estate market had 23 homes for sale in April 2024, a 32.4% 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 | 3 | 2 | -33.3% |
| 3 Bedrooms | 14 | 13 | -7.1% |
| 4 Bedrooms | 9 | 2 | -77.8% |
| 5+ Bedrooms | 8 | 6 | -25.0% |
Summary: The Outlet District 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 decreased by 33.3%, 3 bedroom homes decreased by 7.1%, 4 bedroom homes decreased by 77.8%, and 5+ bedroom homes decreased by 25%.
Number of Homes Sold
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 9 | 9 | 0.0% |
Asking Price vs. Sold Price
4 Homes Were Sold
Under Asking
2 Homes Were Sold
At Asking
3 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Outlet District, you may be able to get a good deal. 44.4% of homes here sold below asking price last month.
Summary: A total of 9 homes were sold or pending in Outlet District in April 2024, the same as the previous month. Of the 9 sold homes, 44% were sold under asking, 22% were sold at asking, and 33% were sold over asking.
Days on Market for Outlet District, PA
How long does it take to sell a home in Outlet District, PA?
Average Sale Time
| Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|
| 34 Days | 14 Days | -56.5% |
Summary: Homes in Outlet District had an average of 14 days on market in Apr 2024, down by 56.5% compared to last year.
Breakdown of Home Sale Times
7 Homes Were Sold
Under 30 Days
2 Homes Were Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Outlet District are selling fast, if you're buying plan to act quickly.
Summary: During April 2024, 9 homes were sold in Outlet District; 78% of homes were sold within 30 days, 22% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.
