Is Reading, MA a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since May 2023
Since last year, Reading has remained a Seller's Market.
Housing Prices in Reading, MA
How much do homes in Reading, MA cost?
Median Sold Price
$777,500
$432/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Summary: The median home sold price in Reading was $777,500 in May 2024, up 0.3% from last year, and the median price per square foot was $432.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $430K | $439.9K | +2.3% |
2 Bedrooms | $560K | $639.9K | +14.3% |
3 Bedrooms | $750K | $773.5K | +3.1% |
4 Bedrooms | $989.4K | $915K | -7.5% |
5+ Bedrooms | $997K | $1.2M | +21.9% |
Summary: Reading housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes increased by 2.3%, 2 bedroom homes increased by 14.3%, 3 bedroom homes increased by 3.1%, 4 bedroom homes decreased by 7.5%, and 5+ bedroom homes increased by 21.9%.
Median Sold Price Compared To Nearby Cities
Lynnfield | $870K | $1.0M | +14.9% |
Wakefield | $675K | $725K | +7.4% |
Wilmington | $669.9K | $700K | +4.5% |
Reading | $775K | $777.5K | 0.3% |
North Reading | $694.2K | $694.7K | 0.1% |
Housing Supply in Reading, MA
How many homes are available in Reading, MA?
Number of Homes For Sale
Apr 2024 | May 2024 | CHANGE |
---|---|---|
81 | 88 | +8.6% |
Summary: The Reading real estate market had 88 homes for sale in May 2024, a 8.6% increase compared to April 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 8 | 4 | -50.0% |
2 Bedrooms | 20 | 21 | +5.0% |
3 Bedrooms | 23 | 24 | +4.3% |
4 Bedrooms | 22 | 32 | +45.5% |
5+ Bedrooms | 8 | 7 | -12.5% |
Summary: The Reading housing inventory by bedroom type for May 2024 compared to the previous month: The inventory of 1 bedroom homes decreased by 50%, 2 bedroom homes increased by 5%, 3 bedroom homes increased by 4.3%, 4 bedroom homes increased by 45.5%, and 5+ bedroom homes decreased by 12.5%.
Number of Homes Sold
Apr 2024 | May 2024 | CHANGE |
---|---|---|
29 | 24 | -17.2% |
Asking Price vs. Sold Price
3 Homes Were Sold
Under Asking
4 Homes Were Sold
At Asking
17 Homes Were Sold
Over Asking
Summary: A total of 24 homes were sold or pending in Reading in May 2024, down by 17.2% month-over-month. Of the 24 sold homes, 13% were sold under asking, 17% were sold at asking, and 71% were sold over asking.
Days on Market for Reading, MA
How long does it take to sell a home in Reading, MA?
Average Sale Time
May 2023 | May 2024 | CHANGE |
---|---|---|
29 Days | 24 Days | -16.4% |
Summary: Homes in Reading had an average of 24 days on market in May 2024, down by 16.4% compared to last year.
Breakdown of Home Sale Times
20 Homes Were Sold
Under 30 Days
2 Homes Were Sold
In 30 - 90 Days
2 Homes Were Sold
Over 90 Days
Summary: During May 2024, 24 homes were sold in Reading; 83% of homes were sold within 30 days, 8% of homes were sold within 30 to 90 days, and 8% of homes were sold over 90 days.