Is West 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, West Reading has remained a Seller's Market.
Key Takeaway
West Reading is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in West Reading, PA
How much do homes in West Reading, PA cost?
Median Sold Price
$236,000
$174/sqft
Based on all homes sold in the last 12 months.
Difference Since April 2023
Key Takeaway
Homes in West Reading have sold for 23.9% more than they did a year ago.
Summary: The median home sold price in West Reading was $236,000 in April 2024, up 23.9% from last year, and the median price per square foot was $174.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | - | N/A |
| 2 Bedrooms | $120K | - | N/A |
| 3 Bedrooms | $189K | $230K | +21.7% |
| 4 Bedrooms | $193.5K | $236K | +22.0% |
| 5+ Bedrooms | $237K | $255K | +7.6% |
Summary: West 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 did not change, 3 bedroom homes increased by 21.7%, 4 bedroom homes increased by 22%, and 5+ bedroom homes increased by 7.6%.
Median Sold Price Compared To Nearby Cities
| Reading | $172.4K | $235.6K | +36.7% |
| West Reading | $190.4K | $236K | +23.9% |
| Wyomissing | $280K | $338.1K | +20.8% |
| Cumru Township | $230K | $265K | +15.2% |
Housing Supply in West Reading, PA
How many homes are available in West Reading, PA?
Number of Homes For Sale
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 9 | 9 | 0.0% |
Summary: The West Reading real estate market had 9 homes for sale in April 2024, the same as March 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 1 | 1 | 0.0% |
| 2 Bedrooms | 0 | 0 | 0.0% |
| 3 Bedrooms | 6 | 6 | 0.0% |
| 4 Bedrooms | 2 | 2 | 0.0% |
| 5+ Bedrooms | 0 | 0 | 0.0% |
Summary: The West 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 remained the same, 4 bedroom homes remained the same, and 5+ bedroom homes remained the same.
Number of Homes Sold
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 3 | 2 | -33.3% |
Asking Price vs. Sold Price
0 Homes Were Sold
Under Asking
0 Homes Were Sold
At Asking
2 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in West Reading, you could pay more than the asking price. 100% of homes here sold above asking price last month.
Summary: A total of 2 homes were sold or pending in West Reading in April 2024, down by 33.3% month-over-month. Of the 2 sold homes, 0% were sold under asking, 0% were sold at asking, and 100% were sold over asking.
Days on Market for West Reading, PA
How long does it take to sell a home in West Reading, PA?
Average Sale Time
| Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|
| 4 Days | 65 Days | +1367.7% |
Summary: Homes in West Reading had an average of 65 days on market in Apr 2024, up by 1367.7% compared to last year.
Breakdown of Home Sale Times
1 Home Was Sold
Under 30 Days
0 Homes Were Sold
In 30 - 90 Days
1 Home Was Sold
Over 90 Days
Key Takeaway
Many homes in West Reading are selling fast, if you're buying plan to act quickly.
Summary: During April 2024, 2 homes were sold in West Reading; 50% of homes were sold within 30 days, 0% of homes were sold within 30 to 90 days, and 50% of homes were sold over 90 days.
