Is Berkeley, IL a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Berkeley is a seller's market

Buyer's
Market

Difference Since May 2023

Since last year, Berkeley has remained a Seller's Market.

Key Takeaway

Berkeley is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.

Housing Prices in Berkeley, IL

How much do homes in Berkeley, IL cost?

Median Sold Price

$270,000

$218/sqft

Based on all homes sold in the last 12 months.

Difference Since May 2023

-$13,000(-4.6%)

Key Takeaway

Homes in Berkeley have sold for 4.6% less than they did a year ago.

Summary: The median home sold price in Berkeley was $270,000 in May 2024, down 4.6% from last year, and the median price per square foot was $218.

Median Sold Price By Bedroom Count

# BEDSMay 2023May 2024CHANGE
1 --
N/A
2 $210K$248.9K
+18.5%
3 $285K$282K
-1.1%
4 $295K$307.5K
+4.2%
5+ $362.5K-
N/A

Summary: Berkeley housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes increased by 18.5%, 3 bedroom homes decreased by 1.1%, 4 bedroom homes increased by 4.2%, and 5+ bedroom homes did not change.

Median Sold Price Compared To Nearby Cities

Northlake
+16.0%
Hillside
+5.6%
Bellwood
+1.3%
Elmhurst
+1.0%
Berkeley
-4.6%

Housing Supply in Berkeley, IL

How many homes are available in Berkeley, IL?

Number of Homes For Sale

Apr 2024May 2024CHANGE
1214+16.7%

Summary: The Berkeley real estate market had 14 homes for sale in May 2024, a 16.7% increase compared to April 2024.

Homes For Sale By Bedroom Count

# BEDSApr 2024May 2024CHANGE
1 00
0.0%
2 43
-25.0%
3 69
+50.0%
4 11
0.0%
5+ 11
0.0%

Summary: The Berkeley housing inventory by bedroom type for May 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes decreased by 25%, 3 bedroom homes increased by 50%, 4 bedroom homes remained the same, and 5+ bedroom homes remained the same.

Number of Homes Sold

Apr 2024May 2024CHANGE
550.0%

Asking Price vs. Sold Price

0 Homes Were Sold
Under Asking

3 Homes Were Sold
At Asking

2 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Berkeley, expect to pay close to the asking price. 60% of homes here sold near the asking price last month.

Summary: A total of 5 homes were sold or pending in Berkeley in May 2024, the same as the previous month. Of the 5 sold homes, 0% were sold under asking, 60% were sold at asking, and 40% were sold over asking.

Days on Market for Berkeley, IL

How long does it take to sell a home in Berkeley, IL?

Average Sale Time

May 2023May 2024CHANGE
15 Days5 Days-64.7%

Summary: Homes in Berkeley had an average of 5 days on market in May 2024, down by 64.7% compared to last year.

Breakdown of Home Sale Times

5 Homes Were Sold
Under 30 Days

0 Homes Were Sold
In 30 - 90 Days

0 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

Many homes in Berkeley are selling fast, if you're buying plan to act quickly.

Summary: During May 2024, 5 homes were sold in Berkeley; 100% of homes were sold within 30 days, 0% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.

Housing Market Reports are calculated by Rocket Homes Real Estate and based on information from the MLS.

Report Updated 1 Day Ago

Newest Listings in Berkeley, IL

Nearby Markets to Berkeley, IL

What housing markets are near Berkeley, IL?