Long known for excellent schools, small town feel and a central location near Logan Airport and commuter routes, Reading has recently joined the ranks of North Shore town boasting homes for sale in excess of $1 million dollars.
Currently - buildable lots wth or without existing homes are attracting 8, 10 or more offers, often cash, and somtimes wildly in excess of listing prices as deeper pocketed builders target Reading for their next projects. So far these upscale projects have been concentrated on the North and West sides of Town - but values and homes sizes are also rising in areas like Van Norden where residents enjoy easy access to the Birch meadow area. Birchmeadow is home to Reading Memorial high School, Coolidge Middles School and Birch Meadow Elementary school, The YMCAand also hosts Reading Town Day and multiple sporting events throughout the year.
The North End of Reading has seen consistent housing upgrades since the opening of Wood End Elementary School in the Early 2000's and is mostly zoned for half acre lots which can generally support larger 3500-4500 sq foot homes with attached garages.
Correspondingly, lot prices have been rising dramatically from just about $300,000 a year ago to a recent high of $390,000 for a 1 acre lot on Curtis Street. That builder is reportedly expected to be constructing a $1million dollar spec home which will eclipse the neighbors - but is not out of line for other gracious West Side homes.
Currently there are two Million plus properties available on Dividence Road with direct access to Wood End School and one home in the Woburn Street Historic District. (See link below.) Opportunities are under development on other North Side properties as well. Key differences in this area abutting acres of Town Forest include access to natural gas and proximity to wetlands which requires adherence to Aquifer District rules and sometimes a very creative approach to be successful.
Properties under $1million are also selling well with 4 homes in the $800-$1million price range having closed in 2014 and a half dozen Under Agreement.
This SOLD HerrickHomeTeam listing is destined to be transformed into a Million Dollar Spec Home in 2014.