The Long & Foster Market Minute

Focus On: Reading Housing Market June 2021

Zip Code(s): 19601, 19604, 19611, 19602 and 19603
Units Sold
94
Active Inventory
105
Median Sale Price
$106,500
Days On Market
16
Up
Vs. Year Ago
Up 13%
Vs. Year Ago
Up 33%
Vs. Year Ago
Down -45%
Vs. Year Ago

Units Sold
There was an increase in total units sold in June, with 94 sold this month in 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 higher by 12 units or 13%. The total number of active inventory this June was 105 compared to 93 in June 2020. This month's total of 105 is higher than the previous month's total supply of available inventory of 89, an increase of 18%.

Median Sale Price
Last June, the median sale price for Reading Homes was $79,900. This June, the median sale price was $106,500, an increase of $26,600 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
114
Current Contracts
81
Sold Vs. List Price
100.3%
Months of Supply
1.1
Up 31%
Vs. Year Ago
Down -19%
Vs. Year Ago
Up 3.3%
Vs. Year Ago
Down -25%
Vs. Year Ago

Months of Supply
In June, there was 1.1 months of supply available in Reading, compared to 1.5 in June 2020. That is a decrease of 26% 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 114 homes newly listed for sale in Reading compared to 87 in June 2020, an increase of 31%. There were 81 current contracts pending sale this June compared to 100 a year ago. The number of current contracts is 19% lower than last June.

Sale Price to List Price Ratio
In June, the average sale price in Reading was 100.3% of the average list price, which is 3.2% higher than at this time last year.

Days on Market
This month, the average number of days on market was 16, lower than the average last year, which was 29, a decrease of 45%.

The Long & Foster Market Minute Reading are defined as properties listed in zip code/s 19601, 19604, 19611, 19602 and 19603.
*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.