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.
Key Takeaway
Reading is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
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
Key Takeaway
The sold price of homes in Reading has remained the same since last year.
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
Key Takeaway
If you're buying a home in Reading, you could pay more than the asking price. 70.8% of homes here sold above asking price last month.
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
Key Takeaway
Many homes in Reading are selling fast, if you're buying plan to act quickly.
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.
