Is Reading, PA 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, PA
How much do homes in Reading, PA cost?
Median Sold Price
$234,427
$142/sqft
Based on all homes sold in the last 12 months.
Difference Since March 2023
Key Takeaway
Homes in Reading have sold for 56.3% more than they did a year ago.
Summary: The median home sold price in Reading was $234,427 in March 2024, up 56.3% from last year, and the median price per square foot was $142.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $141K | $136.5K | -3.2% |
| 2 Bedrooms | $133.7K | $195K | +45.8% |
| 3 Bedrooms | $165K | $240K | +45.5% |
| 4 Bedrooms | $150K | $305.2K | +103.5% |
| 5+ Bedrooms | $140K | $176K | +25.7% |
Summary: Reading housing prices by bedroom type for March 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 3.2%, 2 bedroom homes increased by 45.8%, 3 bedroom homes increased by 45.5%, 4 bedroom homes increased by 103.5%, and 5+ bedroom homes increased by 25.7%.
Median Sold Price Compared To Nearby Cities
| Reading | $150K | $234.4K | +56.3% |
| Wyomissing | $285K | $335K | +17.5% |
| Cumru Township | $230K | $265K | +15.2% |
| Kenhorst | $218K | $210K | -3.7% |
Housing Supply in Reading, PA
How many homes are available in Reading, PA?
Number of Homes For Sale
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 685 | 715 | +4.4% |
Summary: The Reading real estate market had 715 homes for sale in March 2024, a 4.4% increase compared to February 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 6 | 6 | 0.0% |
| 2 Bedrooms | 50 | 54 | +8.0% |
| 3 Bedrooms | 274 | 284 | +3.6% |
| 4 Bedrooms | 208 | 211 | +1.4% |
| 5+ Bedrooms | 147 | 160 | +8.8% |
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 increased by 8%, 3 bedroom homes increased by 3.6%, 4 bedroom homes increased by 1.4%, and 5+ bedroom homes increased by 8.8%.
Number of Homes Sold
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 133 | 145 | +9.0% |
Asking Price vs. Sold Price
40 Homes Were Sold
Under Asking
48 Homes Were Sold
At Asking
57 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Reading, you could pay more than the asking price. 39.3% of homes here sold above asking price last month.
Summary: A total of 145 homes were sold or pending in Reading in March 2024, up by 9.0% month-over-month. Of the 145 sold homes, 28% were sold under asking, 33% were sold at asking, and 39% were sold over asking.
Days on Market for Reading, PA
How long does it take to sell a home in Reading, PA?
Average Sale Time
| Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|
| 19 Days | 20 Days | +9.9% |
Summary: Homes in Reading had an average of 20 days on market in Mar 2024, up by 9.9% compared to last year.
Breakdown of Home Sale Times
117 Homes Were Sold
Under 30 Days
21 Homes Were Sold
In 30 - 90 Days
7 Homes Were 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, 145 homes were sold in Reading; 81% of homes were sold within 30 days, 14% of homes were sold within 30 to 90 days, and 5% of homes were sold over 90 days.
