Posted on December 22, 2023 by Lexi Gonzalez

Reading Ranked 5th Largest Registered Home Price Increase in 3rd Quarter of 2023

by Reading-Berks Association of REALTORS®

Reading Ranked 5th Largest Registered Home Price Increase in 3rd Quarter of 2023

More than 80% of metro markets (182 out of 221) posted home price gains in the third quarter of 2023 as the 30-year fixed mortgage rate ranged from 6.81% to 7.31%, according to the National Association of REALTORS’ (NAR) latest quarterly report. 11% of the 221 tracked metro areas registered double-digit price increases over the same period, up from 5% in the second quarter.

Reading, PA recorded a 14.7% gain, 5th in the nation with the highest home price appreciation after the metro areas of Fond du Lac, WI (18.9%); Hickory-Lenoir-Morganton, NC (17.1%); Oshkosh-Neenah, WI (15.2%); and Green Bay, WI (14.8%).

“For anyone from South Central PA, it’s no surprise Reading was named the 5th largest in price gains in the nation recently,” said Jason Burkholder, 2023 Reading-Berks Association of REALTORS President. “The Reading area offers a large range of housing styles, prices, ranges, and sizes.  With a strong economy and a track record of growth, home buyers feel safe planting their roots here because they can tell the communities here are on the rise.”

The median sale price for an existing single-family home in Reading for the third quarter was $271,200.

“The area is attractive for anyone who wants to experience a vibrant walkable city with easy suburban commutes and a wide variety of ways to enjoy parklands and natural surroundings,” says Burkholder. “If you’re looking to make a move, there is no doubt Berks County and the surrounding areas have exactly what you’re looking for in your next home.”

The Reading-Berks Association of REALTORS® is the voice for real estate in Berks County.

The Reading-Berks Association of REALTORS® is a professional trade association for licensed real estate practitioners. Membership in the organization is voluntary and consists of both residential and commercial agents and brokers, as well as industry affiliates. R-BAR’s membership currently consists of approximately 1200+ real estate licensees and only REALTOR® members are authorized to use the trademark term, REALTOR®.

The Reading-Berks Association of REALTORS® promotes a high standard of professionalism, advocates for private property rights, and strives to improve the quality of life in our communities.

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