Is 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, 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
$235,666
$142/sqft
Based on all homes sold in the last 12 months.
Difference Since April 2023
Key Takeaway
Homes in Reading have sold for 36.7% more than they did a year ago.
Summary: The median home sold price in Reading was $235,666 in April 2024, up 36.7% from last year, and the median price per square foot was $142.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $141K | $136.5K | -3.2% |
| 2 Bedrooms | $156K | $187.9K | +20.5% |
| 3 Bedrooms | $191.4K | $240.5K | +25.7% |
| 4 Bedrooms | $199.5K | $303.6K | +52.2% |
| 5+ Bedrooms | $144.9K | $180.6K | +24.6% |
Summary: Reading housing prices by bedroom type for April 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 3.2%, 2 bedroom homes increased by 20.5%, 3 bedroom homes increased by 25.7%, 4 bedroom homes increased by 52.2%, and 5+ bedroom homes increased by 24.6%.
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% |
| Kenhorst | $213.7K | $212.5K | -0.6% |
Housing Supply in Reading, PA
How many homes are available in Reading, PA?
Number of Homes For Sale
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 541 | 498 | -7.9% |
Summary: The Reading real estate market had 498 homes for sale in April 2024, a 7.9% decrease compared to March 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 5 | 1 | -80.0% |
| 2 Bedrooms | 51 | 64 | +25.5% |
| 3 Bedrooms | 238 | 212 | -10.9% |
| 4 Bedrooms | 153 | 137 | -10.5% |
| 5+ Bedrooms | 94 | 84 | -10.6% |
Summary: The Reading housing inventory by bedroom type for April 2024 compared to the previous month: The inventory of 1 bedroom homes decreased by 80%, 2 bedroom homes increased by 25.5%, 3 bedroom homes decreased by 10.9%, 4 bedroom homes decreased by 10.5%, and 5+ bedroom homes decreased by 10.6%.
Number of Homes Sold
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 171 | 144 | -15.8% |
Asking Price vs. Sold Price
44 Homes Were Sold
Under Asking
35 Homes Were Sold
At Asking
65 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Reading, you could pay more than the asking price. 45.1% of homes here sold above asking price last month.
Summary: A total of 144 homes were sold or pending in Reading in April 2024, down by 15.8% month-over-month. Of the 144 sold homes, 31% were sold under asking, 24% were sold at asking, and 45% 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
| Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|
| 15 Days | 24 Days | +62.9% |
Summary: Homes in Reading had an average of 24 days on market in Apr 2024, up by 62.9% compared to last year.
Breakdown of Home Sale Times
114 Homes Were Sold
Under 30 Days
23 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 April 2024, 144 homes were sold in Reading; 79% of homes were sold within 30 days, 16% of homes were sold within 30 to 90 days, and 5% of homes were sold over 90 days.
