Is Berkeley, CA 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.
Key Takeaway
Berkeley is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Berkeley, CA
How much do homes in Berkeley, CA cost?
Median Sold Price
$1,367,200
$898/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Key Takeaway
Homes in Berkeley have sold for 8.9% less than they did a year ago.
Summary: The median home sold price in Berkeley was $1,367,200 in May 2024, down 8.9% from last year, and the median price per square foot was $898.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $767.5K | $674K | -12.2% |
| 2 Bedrooms | $1.2M | $1.1M | -10.5% |
| 3 Bedrooms | $1.5M | $1.5M | -3.0% |
| 4 Bedrooms | $2.0M | $1.8M | -7.1% |
| 5+ Bedrooms | $2.2M | $2.4M | +7.9% |
Summary: Berkeley housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 12.2%, 2 bedroom homes decreased by 10.5%, 3 bedroom homes decreased by 3%, 4 bedroom homes decreased by 7.1%, and 5+ bedroom homes increased by 7.9%.
Median Sold Price Compared To Nearby Cities
| Emeryville | $672K | $700K | +4.2% |
| Briones | $913.5K | $920K | +0.7% |
| Oakland | $888.1K | $877.5K | -1.2% |
| Albany | $1.1M | $1.0M | -4.0% |
| Berkeley | $1.5M | $1.3M | -8.9% |
Housing Supply in Berkeley, CA
How many homes are available in Berkeley, CA?
Number of Homes For Sale
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 159 | 169 | +6.3% |
Summary: The Berkeley real estate market had 169 homes for sale in May 2024, a 6.3% increase compared to April 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 12 | 13 | +8.3% |
| 2 Bedrooms | 51 | 45 | -11.8% |
| 3 Bedrooms | 46 | 53 | +15.2% |
| 4 Bedrooms | 30 | 44 | +46.7% |
| 5+ Bedrooms | 20 | 14 | -30.0% |
Summary: The Berkeley housing inventory by bedroom type for May 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 8.3%, 2 bedroom homes decreased by 11.8%, 3 bedroom homes increased by 15.2%, 4 bedroom homes increased by 46.7%, and 5+ bedroom homes decreased by 30%.
Number of Homes Sold
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 61 | 63 | +3.3% |
Asking Price vs. Sold Price
6 Homes Were Sold
Under Asking
2 Homes Were Sold
At Asking
53 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Berkeley, you could pay more than the asking price. 86.9% of homes here sold above asking price last month.
Summary: A total of 63 homes were sold or pending in Berkeley in May 2024, up by 3.3% month-over-month. Of the 61 sold homes, 10% were sold under asking, 3% were sold at asking, and 87% were sold over asking.
Days on Market for Berkeley, CA
How long does it take to sell a home in Berkeley, CA?
Average Sale Time
| May 2023 | May 2024 | CHANGE |
|---|---|---|
| 19 Days | 19 Days | -1.9% |
Summary: Homes in Berkeley had an average of 19 days on market in May 2024, down by 1.9% compared to last year.
Breakdown of Home Sale Times
51 Homes Were Sold
Under 30 Days
9 Homes Were Sold
In 30 - 90 Days
1 Home Was Sold
Over 90 Days
Key Takeaway
Many homes in Berkeley are selling fast, if you're buying plan to act quickly.
Summary: During May 2024, 63 homes were sold in Berkeley; 81% of homes were sold within 30 days, 14% of homes were sold within 30 to 90 days, and 2% of homes were sold over 90 days.
Based on information from California Regional Multiple Listing Service, Inc. and /or other sources. All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy. The data contained herein is copyrighted by CRMLS and is protected by all applicable copyright laws. Any dissemination of this information is in violation of copyright laws and is strictly prohibited. 
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