Is West Reading, PA 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, 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
$237,250
$186/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Key Takeaway
Homes in West Reading have sold for 21.4% more than they did a year ago.
Summary: The median home sold price in West Reading was $237,250 in May 2024, up 21.4% from last year, and the median price per square foot was $186.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | - | N/A |
| 2 Bedrooms | - | - | N/A |
| 3 Bedrooms | $190.4K | $230.1K | +20.8% |
| 4 Bedrooms | $195.5K | $236K | +20.7% |
| 5+ Bedrooms | $237K | $252.5K | +6.5% |
Summary: West Reading housing prices by bedroom type for May 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 20.8%, 4 bedroom homes increased by 20.7%, and 5+ bedroom homes increased by 6.5%.
Median Sold Price Compared To Nearby Cities
| Reading | $180K | $239.9K | +33.3% |
| West Reading | $195.5K | $237.2K | +21.4% |
| Wyomissing | $282.5K | $330K | +16.8% |
| Cumru Township | $230.1K | $265K | +15.2% |
Housing Supply in West Reading, PA
How many homes are available in West Reading, PA?
Number of Homes For Sale
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 10 | 11 | +10.0% |
Summary: The West Reading real estate market had 11 homes for sale in May 2024, a 10.0% increase compared to April 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 0 | 0 | 0.0% |
| 2 Bedrooms | 0 | 0 | 0.0% |
| 3 Bedrooms | 7 | 9 | +28.6% |
| 4 Bedrooms | 2 | 0 | -100.0% |
| 5+ Bedrooms | 1 | 2 | +100.0% |
Summary: The West Reading housing inventory by bedroom type for May 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes remained the same, 3 bedroom homes increased by 28.6%, 4 bedroom homes decreased by 100%, and 5+ bedroom homes increased by 100%.
Number of Homes Sold
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 2 | 6 | +200.0% |
Asking Price vs. Sold Price
2 Homes Were Sold
Under Asking
1 Home Was Sold
At Asking
3 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in West Reading, you could pay more than the asking price. 50% of homes here sold above asking price last month.
Summary: A total of 6 homes were sold or pending in West Reading in May 2024, up by 200.0% month-over-month. Of the 6 sold homes, 33% were sold under asking, 17% were sold at asking, and 50% 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
| May 2023 | May 2024 | CHANGE |
|---|---|---|
| 4 Days | 9 Days | +121.7% |
Summary: Homes in West Reading had an average of 9 days on market in May 2024, up by 121.7% compared to last year.
Breakdown of Home Sale Times
6 Homes Were Sold
Under 30 Days
0 Homes Were Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in West Reading are selling fast, if you're buying plan to act quickly.
Summary: During May 2024, 6 homes were sold in West Reading; 100% of homes were sold within 30 days, 0% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.
