$7,006 Closing Credit*
$590,000
1,300 SqFt
2 Beds
•2 Full Baths
#73317300, Valerie Previte, Listing Office: William Raveis R.E. & Home Services
Is Reading, MA a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since November 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
$787,666
$449/sqft
Based on all homes sold in the last 12 months.
Difference Since November 2023
+$8,666(+1.1%)
Key Takeaway
Homes in Reading have sold for 1.1% more than they did a year ago.
Summary: The median home sold price in Reading was $787,666 in November 2024, up 1.1% from last year, and the median price per square foot was $449.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Nov 2023 | Nov 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $408.7K | $475K | +16.2% |
| 2 Bedrooms | $630K | $640K | +1.6% |
| 3 Bedrooms | $783K | $765K | -2.3% |
| 4 Bedrooms | $900K | $955K | +6.1% |
| 5+ Bedrooms | $1.2M | $1.2M | +5.4% |
Summary: Reading housing prices by bedroom type for November 2024 compared to the previous year: The home price of 1 bedroom homes increased by 16.2%, 2 bedroom homes increased by 1.6%, 3 bedroom homes decreased by 2.3%, 4 bedroom homes increased by 6.1%, and 5+ bedroom homes increased by 5.4%.
Median Sold Price Compared To Nearby Cities
| North Reading | $666K | $730K | +9.6% |
| Wilmington | $675.5K | $729.9K | +8.1% |
| Wakefield | $703.8K | $760K | +8.0% |
| Lynnfield | $915K | $955K | +4.4% |
| Reading | $779K | $787.6K | +1.1% |
Housing Supply in Reading, MA
How many homes are available in Reading, MA?
Number of Homes For Sale
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 90 | 71 | -21.1% |
Summary: The Reading real estate market had 71 homes for sale in November 2024, a 21.1% decrease compared to October 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 3 | 3 | 0.0% |
| 2 Bedrooms | 20 | 18 | -10.0% |
| 3 Bedrooms | 32 | 26 | -18.8% |
| 4 Bedrooms | 27 | 16 | -40.7% |
| 5+ Bedrooms | 8 | 8 | 0.0% |
Summary: The Reading housing inventory by bedroom type for November 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes decreased by 10%, 3 bedroom homes decreased by 18.8%, 4 bedroom homes decreased by 40.7%, and 5+ bedroom homes remained the same.
Number of Homes Sold
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 24 | 25 | +4.2% |
Asking Price vs. Sold Price
8 Homes Were Sold
Under Asking
2 Homes Were Sold
At Asking
15 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Reading, you could pay more than the asking price. 60% of homes here sold above asking price last month.
Summary: A total of 25 homes were sold or pending in Reading in November 2024, up by 4.2% month-over-month. Of the 25 sold homes, 32% were sold under asking, 8% were sold at asking, and 60% 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
| Nov 2023 | Nov 2024 | CHANGE |
|---|---|---|
| 17 Days | 28 Days | +66.6% |
Summary: Homes in Reading had an average of 28 days on market in Nov 2024, up by 66.6% compared to last year.
Breakdown of Home Sale Times
18 Homes Were Sold
Under 30 Days
5 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 November 2024, 25 homes were sold in Reading; 72% of homes were sold within 30 days, 20% of homes were sold within 30 to 90 days, and 8% of homes were sold over 90 days.
