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Neighborhoods in Reading with the most expensive home sales

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June 3, 2022
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Neighborhoods in Reading with the most expensive home sales

After home prices climbed by a record-setting 16.9% nationwide in 2021, the market was met with another stunning statistic in April 2022: 11 American metros now have a median home sold price of more than $500,000. The half-million dollar average sale price metric comes from an OJO Labs survey of March home sales. Nationwide, the median sales price of a home reached $392,750 as of mid-April 2022.

In historically wealthy cities and those with more modest home prices, the trajectory is the same: Prices keep going up even as mortgage rates spike. Causes for the price jumps are mirrored across the country. A long-term housing shortage that began after the Great Recession was exacerbated by supply chain disruptions that made it harder to source construction material, which affected virtually all housing markets. Another factor that has driven up prices is the rise of investors that have entered the market. In many regions including Charlotte, North Carolina, investment firms are buying up huge swaths of single-family homes.

In smaller cities and towns, traditionally lower population numbers were met with a swell of households moving away from big cities during the coronavirus pandemic, driving competition up for housing. Record-low mortgage rates were another reason for an exploding number of buyers, although rising rates don’t seem to be doing much to slow bidding wars in many metros.

Real estate platform ZeroDown analyzed its data on home listings to determine the most expensive neighborhood in Reading, based on homes sold between March 18, 2022 and April 18, 2022. Neighborhoods are ranked by the median home price per square foot.

Read on to see your city’s most expensive neighborhoods or see the national story which features neighborhoods in 20 metros here.

#10. Outlet District
- Median Home Price: $125,117 ($71 per square foot)
- Median Rent: $870
- Population: 14,494
- Walk Score: 81
- Bike Score: 58

#9. 6th Ward / Ricktown Arts District
- Median Home Price: $369,906 ($74 per square foot)
- Median Rent: $769
- Population: 3,871
- Walk Score: 82
- Bike Score: 61

#8. East Reading
- Median Home Price: $129,963 ($95 per square foot)
- Median Rent: $937
- Population: 7,540
- Walk Score: 18
- Bike Score: 9

#7. Hampden Heights / College Heights
- Median Home Price: $197,009 ($101 per square foot)
- Median Rent: $1,003
- Population: 4,731
- Walk Score: 57
- Bike Score: 36

#6. Glenside
- Median Home Price: $161,944 ($104 per square foot)
- Median Rent: $741
- Population: 9,344
- Walk Score: 44
- Bike Score: 35

#5. Centre Park Historic District
- Median Home Price: $267,000 ($106 per square foot)
- Median Rent: $851
- Population: 2,073
- Walk Score: 76
- Bike Score: 54

#4. Millmont
- Median Home Price: $136,900 ($110 per square foot)
- Median Rent: $813
- Population: 4,577
- Walk Score: 15
- Bike Score: 25

#3. Northmont
- Median Home Price: $175,081 ($117 per square foot)
- Median Rent: $986
- Population: 1,411
- Walk Score: 43
- Bike Score: 34

#2. Callowhill Historic District
- Median Home Price: $185,165 ($120 per square foot)
- Median Rent: $688
- Population: 1,648
- Walk Score: 92
- Bike Score: 49

#1. Oakbrook / Wyomissing Park
- Median Home Price: $200,186 ($144 per square foot)
- Median Rent: $737
- Population: 4,450
- Walk Score: 39
- Bike Score: 29

This story originally appeared on ZeroDown and was produced and distributed in partnership with Stacker Studio.

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