Is Berkeley, VA a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since May 2023
Since last year, Berkeley has remained a Seller's Market.
Housing Prices in Berkeley, VA
How much do homes in Berkeley, VA cost?
Median Sold Price
$424,165
$214/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Summary: The median home sold price in Berkeley was $424,165 in May 2024, up 2% from last year, and the median price per square foot was $214.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
---|---|---|---|
1 Bedroom | - | - | N/A |
2 Bedrooms | - | $225K | N/A |
3 Bedrooms | $380K | $390.7K | +2.8% |
4 Bedrooms | $450K | $464.9K | +3.3% |
5+ Bedrooms | $558K | $485K | -13.1% |
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 did not change, 3 bedroom homes increased by 2.8%, 4 bedroom homes increased by 3.3%, and 5+ bedroom homes decreased by 13.1%.
Median Sold Price Compared To Nearby Cities
Livingston | $463.6K | $545.4K | +17.7% |
Spotsylvania | $430K | $465.6K | +8.3% |
Lee Hill | $436.9K | $451.9K | +3.4% |
Berkeley | $416K | $424.1K | +2.0% |
Partlow | $475K | $415.2K | -12.6% |
Housing Supply in Berkeley, VA
How many homes are available in Berkeley, VA?
Number of Homes For Sale
Apr 2024 | May 2024 | CHANGE |
---|---|---|
116 | 105 | -9.5% |
Summary: The Berkeley real estate market had 105 homes for sale in May 2024, a 9.5% decrease compared to April 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 0 | 0 | 0.0% |
2 Bedrooms | 3 | 1 | -66.7% |
3 Bedrooms | 54 | 42 | -22.2% |
4 Bedrooms | 44 | 44 | 0.0% |
5+ Bedrooms | 15 | 18 | +20.0% |
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 66.7%, 3 bedroom homes decreased by 22.2%, 4 bedroom homes remained the same, and 5+ bedroom homes increased by 20%.
Number of Homes Sold
Apr 2024 | May 2024 | CHANGE |
---|---|---|
39 | 24 | -38.5% |
Asking Price vs. Sold Price
6 Homes Were Sold
Under Asking
7 Homes Were Sold
At Asking
11 Homes Were Sold
Over Asking
Summary: A total of 24 homes were sold or pending in Berkeley in May 2024, down by 38.5% month-over-month. Of the 24 sold homes, 25% were sold under asking, 29% were sold at asking, and 46% were sold over asking.
Days on Market for Berkeley, VA
How long does it take to sell a home in Berkeley, VA?
Average Sale Time
May 2023 | May 2024 | CHANGE |
---|---|---|
17 Days | 33 Days | +96.0% |
Summary: Homes in Berkeley had an average of 33 days on market in May 2024, up by 96% compared to last year.
Breakdown of Home Sale Times
16 Homes Were Sold
Under 30 Days
6 Homes Were Sold
In 30 - 90 Days
2 Homes Were Sold
Over 90 Days
Summary: During May 2024, 24 homes were sold in Berkeley; 67% of homes were sold within 30 days, 25% of homes were sold within 30 to 90 days, and 8% of homes were sold over 90 days.