The Long & Foster Market Minute

Focus On: Northwest and Northeast Reading Housing Market June 2021

Zip Code(s): 19601 and 19604
Units Sold
63
Active Inventory
55
Median Sale Price
$107,000
Days On Market
18
Up
Vs. Year Ago
Down -7%
Vs. Year Ago
Up
Vs. Year Ago
Down -44%
Vs. Year Ago

Units Sold
There was an increase in total units sold in June, with 63 sold this month in Northwest and Northeast Reading Real Estate. This month's total units sold was higher than at this time last year.

Active Inventory
Versus last year, the total number of homes available this month is lower by 4 units or 7%. The total number of active inventory this June was 55 compared to 59 in June 2020. This month's total of 55 is higher than the previous month's total supply of available inventory of 47, an increase of 17%.

Median Sale Price
Last June, the median sale price for Northwest and Northeast Reading Homes was $75,000. This June, the median sale price was $107,000, an increase of $32,000 compared to last year. The current median sold price is higher than in May.

Median sale price is the middle sale price in a given month. The same number of properties are above & below the median.


New Listings
74
Current Contracts
54
Sold Vs. List Price
100.1%
Months of Supply
0.9
Up 35%
Vs. Year Ago
Down -13%
Vs. Year Ago
Up 3.6%
Vs. Year Ago
Down -35%
Vs. Year Ago

Months of Supply
In June, there was 0.9 months of supply available in Northwest and Northeast Reading, compared to 1.3 in June 2020. That is a decrease of 35% versus a year ago.

Months of supply is calculated by dividing current inventory by current sales. It indicates how many months would be needed to sell all of the inventory available at the current rate of demand.

New Listings & Current Contracts
This month there were 74 homes newly listed for sale in Northwest and Northeast Reading compared to 55 in June 2020, an increase of 35%. There were 54 current contracts pending sale this June compared to 62 a year ago. The number of current contracts is 13% lower than last June.

Sale Price to List Price Ratio
In June, the average sale price in Northwest and Northeast Reading was 100.1% of the average list price, which is 3.5% higher than at this time last year.

Days on Market
This month, the average number of days on market was 18, lower than the average last year, which was 32, a decrease of 44%.

The Long & Foster Market Minute Northwest and Northeast Reading are defined as properties listed in zip code/s 19601 and 19604.
*Detached, Attached, and Condo varies by local area Multiple Listing Service (MLS) definition. For more information regarding your specific market, contact one of Long & Foster's knowledgeable and experienced sales associates.
REALTOR, Equal Opportunity HousingInformation included in this report is based on data supplied by BRIGHTMLS and its member Association(s) of REALTORS, who are not responsible for its accuracy. Does not reflect all activity in the marketplace. Information contained in this report is deemed reliable but not guaranteed, should be independently verified, and does not constitute an opinion of BRIGHTMLS or Long & Foster Real Estate, Inc.